Gemphire Therapeutics Inc. (NASDAQ:GEMP) – Equities researchers at Jefferies Group lowered their FY2017 EPS estimates for shares of Gemphire Therapeutics in a report issued on Monday. Jefferies Group analyst M. Andrews now expects that the company will earn ($2.98) per share for the year, down from their prior estimate of ($2.78). Jefferies Group has a “Buy” rating and a $18.00 price objective on the stock. Jefferies Group also issued estimates for Gemphire Therapeutics’ FY2018 earnings at ($1.93) EPS, FY2019 earnings at ($2.01) EPS, FY2020 earnings at ($1.49) EPS and FY2021 earnings at ($1.32) EPS.
Gemphire Therapeutics (NASDAQ:GEMP) last posted its earnings results on Monday, August 14th. The company reported ($0.99) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.71) by $0.28. COPYRIGHT VIOLATION WARNING: “FY2017 EPS Estimates for Gemphire Therapeutics Inc. (GEMP) Reduced by Jefferies Group” was first posted by BNB Daily and is owned by of BNB Daily. If you are reading this news story on another website, it was illegally copied and reposted in violation of international copyright & trademark laws. The original version of this news story can be read at https://www.baseball-news-blog.com/2017/08/19/fy2017-eps-estimates-for-gemphire-therapeutics-inc-gemp-reduced-by-jefferies-group.html.
Other equities research analysts also recently issued research reports about the company. Zacks Investment Research upgraded Gemphire Therapeutics from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a report on Wednesday, July 19th. Canaccord Genuity set a $31.00 price target on Gemphire Therapeutics and gave the stock a “buy” rating in a report on Monday, August 14th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Gemphire Therapeutics currently has an average rating of “Buy” and a consensus price target of $24.33.
Shares of Gemphire Therapeutics (NASDAQ:GEMP) opened at 8.24 on Thursday. The company’s market capitalization is $87.56 million. Gemphire Therapeutics has a 1-year low of $7.20 and a 1-year high of $21.59. The firm has a 50-day moving average price of $14.43 and a 200-day moving average price of $11.57.
Several hedge funds and other institutional investors have recently bought and sold shares of GEMP. Norris Perne & French LLP MI purchased a new position in Gemphire Therapeutics during the first quarter worth about $110,000. Advisory Services Network LLC purchased a new position in Gemphire Therapeutics during the second quarter worth about $139,000. Renaissance Technologies LLC purchased a new position in Gemphire Therapeutics during the first quarter worth about $184,000. Vanguard Group Inc. increased its position in Gemphire Therapeutics by 137.6% in the second quarter. Vanguard Group Inc. now owns 30,898 shares of the company’s stock worth $399,000 after buying an additional 17,892 shares during the last quarter. Finally, GM Advisory Group Inc. purchased a new position in Gemphire Therapeutics during the second quarter worth about $457,000. Institutional investors and hedge funds own 28.18% of the company’s stock.
Gemphire Therapeutics Company Profile
Gemphire Therapeutics Inc is a clinical-stage biopharmaceutical company. The Company is engaged in the development and commercialization of therapeutics to treat cardiovascular and metabolic diseases. It is developing its product candidate, gemcabene (CI-1027), which is a once-daily, oral therapy for patients who are unable to achieve normal levels of low-density lipoprotein cholesterol (LDL-C) or triglycerides with approved therapies, primarily statin therapy.
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