Gemphire Therapeutics (GEMP) Upgraded to “Buy” at Zacks Investment Research

Gemphire Therapeutics (NASDAQ:GEMP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday. The brokerage currently has a $1.75 price target on the stock. Zacks Investment Research‘s price objective would suggest a potential upside of 12.90% from the stock’s current price.

According to Zacks, “Gemphire Therapeutics Inc. is a biopharmaceutical company. It focused on developing and commercializing therapies for the treatment of dyslipidemia. The company’s product candidate is gemcabene (CI-1027), an oral therapy for patients who are unable to achieve normal levels of LDL-C or triglycerides with currently approved therapies. Gemphire Therapeutics Inc. is headquartered in Northville, Michigan. “

A number of other research firms have also recently commented on GEMP. ValuEngine raised Gemphire Therapeutics from a “sell” rating to a “hold” rating in a research note on Monday, May 7th. Raymond James initiated coverage on Gemphire Therapeutics in a research note on Wednesday, May 16th. They set an “outperform” rating and a $22.00 target price on the stock. Roth Capital upped their target price on Gemphire Therapeutics from $30.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, July 27th. Jefferies Financial Group cut Gemphire Therapeutics from a “buy” rating to a “hold” rating and set a $15.00 target price on the stock. in a research note on Monday. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $6.00 target price on shares of Gemphire Therapeutics in a research note on Monday. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Gemphire Therapeutics has an average rating of “Buy” and an average target price of $17.82.



NASDAQ GEMP traded down $0.11 during trading hours on Tuesday, hitting $1.55. 1,410,300 shares of the company were exchanged, compared to its average volume of 385,800. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.57 and a quick ratio of 5.57. Gemphire Therapeutics has a 52 week low of $0.83 and a 52 week high of $11.43. The stock has a market capitalization of $25.62 million, a P/E ratio of -0.48 and a beta of 2.91.

Gemphire Therapeutics (NASDAQ:GEMP) last issued its quarterly earnings data on Monday, August 13th. The company reported ($0.47) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.52) by $0.05. equities research analysts anticipate that Gemphire Therapeutics will post -2.44 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Northern Trust Corp grew its stake in shares of Gemphire Therapeutics by 63.7% during the first quarter. Northern Trust Corp now owns 30,080 shares of the company’s stock valued at $196,000 after buying an additional 11,708 shares during the last quarter. Segall Bryant & Hamill LLC boosted its holdings in shares of Gemphire Therapeutics by 100.0% in the first quarter. Segall Bryant & Hamill LLC now owns 30,000 shares of the company’s stock valued at $195,000 after purchasing an additional 15,000 shares during the period. JBF Capital Inc. purchased a new stake in shares of Gemphire Therapeutics in the second quarter valued at approximately $204,000. Acadian Asset Management LLC purchased a new stake in shares of Gemphire Therapeutics in the second quarter valued at approximately $286,000. Finally, DAFNA Capital Management LLC purchased a new stake in shares of Gemphire Therapeutics in the first quarter valued at approximately $651,000. 33.72% of the stock is currently owned by hedge funds and other institutional investors.

About Gemphire Therapeutics

Gemphire Therapeutics Inc, a clinical-stage biopharmaceutical company, focuses on developing and commercializing therapies for the treatment of dyslipidemia and non-alcoholic steatohepatitis (NASH). It is developing gemcabene, a novel, once-daily, oral therapy, for high risk cardiovascular patients who are unable to achieve normal levels of LDL-C or triglycerides with currently approved therapies, primarily statin therapy, and for those patients who present with NASH.

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