Gemphire Therapeutics Inc (GEMP) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of Gemphire Therapeutics Inc (NASDAQ:GEMP) from a hold rating to a sell rating in a research report report published on Wednesday.

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 equities analysts have also issued research reports about the company. Canaccord Genuity set a $17.00 price objective on Gemphire Therapeutics and gave the stock a buy rating in a research note on Thursday, March 16th. Jefferies Group LLC reissued a buy rating and issued a $17.00 price objective on shares of Gemphire Therapeutics in a research note on Thursday, March 16th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. Gemphire Therapeutics currently has a consensus rating of Buy and an average price target of $19.75.

Gemphire Therapeutics (NASDAQ:GEMP) opened at 11.9347 on Wednesday. Gemphire Therapeutics has a 12-month low of $7.25 and a 12-month high of $13.98. The firm’s market capitalization is $110.66 million. The company’s 50-day moving average price is $9.93 and its 200-day moving average price is $9.91.

Gemphire Therapeutics (NASDAQ:GEMP) last announced its quarterly earnings results on Wednesday, March 15th. The company reported ($0.78) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.54) by $0.24. Equities analysts expect that Gemphire Therapeutics will post ($2.18) EPS for the current fiscal year.

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In other news, Director Andy Sassine bought 21,119 shares of the company’s stock in a transaction dated Friday, March 10th. The stock was bought at an average price of $9.47 per share, for a total transaction of $199,996.93. Following the completion of the transaction, the director now directly owns 136,264 shares in the company, valued at approximately $1,290,420.08. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Several large investors have recently added to or reduced their stakes in the company. Blue Clay Capital Management LLC purchased a new stake in Gemphire Therapeutics during the third quarter worth $131,000. Monashee Investment Management LLC bought a new stake in Gemphire Therapeutics during the third quarter worth approximately $144,000. Spark Investment Management LLC bought a new stake in Gemphire Therapeutics during the third quarter worth approximately $198,000. Finally, Adage Capital Partners GP L.L.C. bought a new stake in Gemphire Therapeutics during the third quarter worth approximately $3,976,000. Institutional investors own 14.85% 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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