Gemphire Therapeutics (GEMP) Downgraded to “Hold” at Zacks Investment Research

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Gemphire Therapeutics (NASDAQ:GEMP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Monday.

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. “

Other analysts also recently issued research reports about the stock. Canaccord Genuity reissued a “buy” rating and set a $6.00 target price on shares of Gemphire Therapeutics in a research report on Monday, August 13th. Roth Capital lifted their price objective on shares of Gemphire Therapeutics from $30.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, July 27th. ValuEngine upgraded shares of Gemphire Therapeutics from a “hold” rating to a “buy” rating in a research note on Thursday. Jefferies Financial Group cut shares of Gemphire Therapeutics from a “buy” rating to a “hold” rating and set a $15.00 price objective for the company. in a research note on Monday, August 13th. Finally, Raymond James cut shares of Gemphire Therapeutics from an “outperform” rating to a “market perform” rating and set a $22.00 price objective for the company. in a research note on Tuesday, August 7th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Gemphire Therapeutics presently has a consensus rating of “Hold” and a consensus target price of $17.08.

NASDAQ:GEMP traded up $0.05 during trading hours on Monday, hitting $1.40. 250,926 shares of the company were exchanged, compared to its average volume of 460,480. The company has a market cap of $19.26 million, a PE ratio of -0.43 and a beta of 2.48. Gemphire Therapeutics has a 52-week low of $0.83 and a 52-week high of $11.43. 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, topping the consensus estimate of ($0.52) by $0.05. As a group, analysts expect that Gemphire Therapeutics will post -1.88 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Nomura Holdings Inc. acquired a new stake in Gemphire Therapeutics during the 2nd quarter valued at approximately $556,000. Millennium Management LLC acquired a new stake in Gemphire Therapeutics during the 2nd quarter valued at approximately $1,981,000. JBF Capital Inc. acquired a new stake in Gemphire Therapeutics during the 2nd quarter valued at approximately $204,000. Acadian Asset Management LLC acquired a new stake in Gemphire Therapeutics during the 2nd quarter valued at approximately $286,000. Finally, Northern Trust Corp lifted its stake in Gemphire Therapeutics by 63.7% during the 1st quarter. Northern Trust Corp now owns 30,080 shares of the company’s stock valued at $196,000 after acquiring an additional 11,708 shares during the period. Institutional investors and hedge funds own 31.13% of the company’s stock.

Gemphire Therapeutics Company Profile

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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