Gemphire Therapeutics (NASDAQ:GEMP) Stock Passes Below 50 Day Moving Average of $1.03

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Gemphire Therapeutics Inc (NASDAQ:GEMP) passed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $1.03 and traded as low as $0.92. Gemphire Therapeutics shares last traded at $0.94, with a volume of 4,629 shares changing hands.

A number of research firms have commented on GEMP. Zacks Investment Research downgraded shares of Gemphire Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday, April 11th. ValuEngine downgraded shares of Gemphire Therapeutics from a “hold” rating to a “sell” rating in a research report on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $14.90.

The stock has a market cap of $13.23 million, a P/E ratio of -0.56 and a beta of 3.20.

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About Gemphire Therapeutics (NASDAQ:GEMP)

Gemphire Therapeutics Inc, a clinical-stage biopharmaceutical company, focuses on developing and commercializing therapies for the treatment of dyslipidemia and nonalcoholic fatty liver disease (NAFLD/NASH). The company is developing gemcabene, a novel, once-daily, and oral therapy for dyslipidemia conditions where patients are unable to reach their lipid lowering goals, including patients already receiving maximally tolerated statin therapy.

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