Jefferies Group LLC Increases Gemphire Therapeutics Inc. (NASDAQ:GEMP) Price Target to $32.00

Gemphire Therapeutics Inc. (NASDAQ:GEMP) had its price target raised by Jefferies Group LLC to $32.00 in a research note issued to investors on Tuesday, August 1st, MarketBeat reports. The brokerage currently has a buy rating on the stock. Jefferies Group also issued estimates for Gemphire Therapeutics’ FY2018 earnings at ($1.87) EPS, FY2019 earnings at ($1.90) EPS, FY2020 earnings at ($1.38) EPS and FY2021 earnings at ($1.07) EPS.

Other research analysts have also issued research reports about the company. Zacks Investment Research upgraded Gemphire Therapeutics from a sell rating to a hold rating in a research report on Thursday, May 11th. Canaccord Genuity set a $31.00 target price on Gemphire Therapeutics and gave the stock a buy rating in a research note on Wednesday, July 26th. Finally, Piper Jaffray Companies initiated coverage on Gemphire Therapeutics in a research note on Monday, April 10th. They issued an overweight rating and a $30.00 target price for the company. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Gemphire Therapeutics presently has a consensus rating of Buy and an average target price of $24.33.

Gemphire Therapeutics (NASDAQ:GEMP) opened at 8.24 on Tuesday. The company’s market capitalization is $87.56 million. The firm has a 50-day moving average of $14.43 and a 200 day moving average of $11.57. Gemphire Therapeutics has a 12-month low of $7.20 and a 12-month high of $21.59.

Gemphire Therapeutics (NASDAQ:GEMP) last issued its quarterly earnings results on Monday, August 14th. The company reported ($0.99) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.71) by $0.28. Analysts forecast that Gemphire Therapeutics will post ($2.98) EPS for the current fiscal year.

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A number of large investors have recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. boosted its stake in Gemphire Therapeutics by 1.7% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 153,064 shares of the company’s stock valued at $1,959,000 after buying an additional 2,500 shares during the last quarter. Norris Perne & French LLP MI purchased a new position in Gemphire Therapeutics during the first quarter valued at approximately $110,000. Advisory Services Network LLC purchased a new position in Gemphire Therapeutics during the second quarter valued at approximately $139,000. Renaissance Technologies LLC purchased a new position in Gemphire Therapeutics during the first quarter valued at approximately $184,000. Finally, Vanguard Group Inc. raised 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 valued at $399,000 after buying an additional 17,892 shares during the period. Hedge funds and other institutional investors 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.

Analyst Recommendations for Gemphire Therapeutics (NASDAQ:GEMP)

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