RBC Capital Markets Reaffirms Outperform Rating for Gemphire Therapeutics Inc (GEMP)

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Gemphire Therapeutics Inc (NASDAQ:GEMP)‘s stock had its “outperform” rating reissued by equities researchers at RBC Capital Markets in a report issued on Friday. They currently have a $25.00 target price on the stock. RBC Capital Markets’ target price would indicate a potential upside of 145.34% from the company’s previous close.
GEMP has been the subject of several other research reports. Jefferies Group started coverage on shares of Gemphire Therapeutics in a research report on Tuesday, August 30th. They issued a “buy” rating and a $15.00 price objective for the company. Canaccord Genuity started coverage on shares of Gemphire Therapeutics in a research report on Tuesday, August 30th. They issued a “buy” rating and a $17.00 price objective for the company. Laidlaw started coverage on shares of Gemphire Therapeutics in a research report on Tuesday, September 6th. They issued a “buy” rating and a $20.00 price objective for the company. Finally, Royal Bank Of Canada started coverage on shares of Gemphire Therapeutics in a research report on Tuesday, August 30th. They issued an “outperform” rating and a $25.00 price objective for the company. Five equities research analysts have rated the stock with a buy rating, The company currently has a consensus rating of “Buy” and a consensus price target of $20.40.
Shares of Gemphire Therapeutics (NASDAQ:GEMP) traded up 4.61% during trading on Friday, hitting $10.66. The stock had a trading volume of 14,502 shares. The stock’s market capitalization is $38.65 million. Gemphire Therapeutics has a 52 week low of $8.80 and a 52 week high of $13.98. The stock’s 50 day moving average is $10.85 and its 200 day moving average is $10.85.

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In other Gemphire Therapeutics news, insider David Lowenschuss bought 11,120 shares of the company’s stock in a transaction on Wednesday, August 10th. The stock was bought at an average price of $10.00 per share, for a total transaction of $111,200.00. Following the transaction, the insider now owns 806,247 shares of the company’s stock, valued at approximately $8,062,470. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Jeffrey S. Mathiesen bought 4,000 shares of the company’s stock in a transaction on Wednesday, August 10th. The shares were acquired at an average price of $10.00 per share, with a total value of $40,000.00. Following the transaction, the chief financial officer now directly owns 3,927 shares in the company, valued at approximately $39,270. The disclosure for this purchase can be found here.
Gemphire Therapeutics Company Profile
Gemphire Therapeutics Inc is a clinical-stage biopharmaceutical company. The Company is focused on developing and commercializing therapies for the treatment of dyslipidemia. It is developing its product candidate Gemcabene (CI-1027), 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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