Jefferies Releases a Buy Rating on Gemphire Therapeutics

By Ryan Adsit

In a report released today, Matthew Andrews from Jefferies reiterated a Buy rating on Gemphire Therapeutics (NASDAQ: GEMP), with a price target of $17. The company’s shares closed yesterday at $9.25.

According to TipRanks.com, Andrews is a 3-star analyst with an average return of 7.0% and a 45.7% success rate. Andrews covers the Healthcare sector, focusing on stocks such as Aevi Genomic Medicine Inc, Spectrum Pharmaceuticals, and Anthera Pharmaceuticals.

Gemphire Therapeutics has an analyst consensus of Moderate Buy, with a price target consensus of $17.

The company has a one year high of $13.98 and a one year low of $7.25. Currently, Gemphire Therapeutics has an average volume of 9,670.

Based on the recent corporate insider activity of 13 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of GEMP in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Gemphire Therapeutics, Inc. is a clinical-stage biopharmaceutical company, which engages in the development and commercialization of therapies for the treatment of dyslipidemia. Its product under the Gemcabene name is used an adjunctive therapy to reduce low-density lipoprotein cholesterol, high-sensitivity C-reactive protein, and triglycerides. The company was founded by Charles L. Bisgaier and David Lowenschuss on October 30, 2014 and is headquartered in Northville, MI.