Gemphire Therapeutics Inc (NASDAQ:GEMP) dropped 9.9% on Friday . The stock traded as low as $1.90 and last traded at $2.01. Approximately 8,373,297 shares were traded during mid-day trading, an increase of 1,690% from the average daily volume of 467,814 shares. The stock had previously closed at $2.23.
A number of brokerages recently commented on GEMP. Zacks Investment Research upgraded shares of Gemphire Therapeutics from a “hold” rating to a “buy” rating and set a $1.75 price objective on the stock in a report on Tuesday, August 14th. Canaccord Genuity restated a “buy” rating and set a $6.00 price objective on shares of Gemphire Therapeutics in a report on Monday, August 13th. Roth Capital raised their price objective on shares of Gemphire Therapeutics from $30.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, July 27th. Raymond James began coverage on shares of Gemphire Therapeutics in a report on Wednesday, May 16th. They set an “outperform” rating and a $22.00 price objective on the stock. Finally, Jefferies Financial Group lowered shares of Gemphire Therapeutics from a “buy” rating to a “hold” rating and set a $15.00 price objective on the stock. in a report on Monday, August 13th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $17.82.
The stock has a market cap of $22.40 million, a price-to-earnings ratio of -0.64 and a beta of 1.35. The company has a current ratio of 4.64, a quick ratio of 4.64 and a debt-to-equity ratio of 0.50.
Gemphire Therapeutics (NASDAQ:GEMP) last released its earnings results on Monday, August 13th. The company reported ($0.47) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.52) by $0.05. equities analysts predict that Gemphire Therapeutics Inc will post -1.99 earnings per share for the current fiscal year.
A number of institutional investors have recently added to or reduced their stakes in the stock. Northern Trust Corp grew its position in Gemphire Therapeutics by 63.7% in the first quarter. Northern Trust Corp now owns 30,080 shares of the company’s stock valued at $196,000 after purchasing an additional 11,708 shares in the last quarter. Segall Bryant & Hamill LLC grew its position in 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 in the last quarter. JBF Capital Inc. bought a new position in Gemphire Therapeutics in the second quarter valued at $204,000. Acadian Asset Management LLC bought a new position in Gemphire Therapeutics in the second quarter valued at $286,000. Finally, Nomura Holdings Inc. bought a new position in Gemphire Therapeutics in the second quarter valued at $556,000. 32.60% of the stock is owned by institutional investors and hedge funds.
About Gemphire Therapeutics (NASDAQ:GEMP)
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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