Gemphire Therapeutics Inc (NASDAQ: GEMP) Stock Coverage Initiated at Laidlaw

Analysts at Laidlaw initiated coverage on Gemphire Therapeutics Inc (NASDAQ: GEMP) stock, starting the company at Buy and a price target of $20.00. As a means of comparison, a number of other analysts have commented on the stock recently, and the company has earned a consensus one-year price target of $19.00, $13.49. Gemphire Therapeutics Incstock has a 52-week high of $13.98.

U.S. stocks finished August with its second consecutive day of losses, albeit moderately. Volume for the day was less than stellar as traders readied themselves for a long holiday weekend.

The Dow Jones Industrial Average fell 53 points, or 0.29 percent, to 18,401.

The S&P 500 shed a little more than 5 points, or 0.24 percent, to close at 2,171.

The Nasdaq lost 10 points, or 0.19 percent, to finish at 5,213.
Stock prices often move to the upside on recommendations and new price targets of professional analysts.

Shares of Gemphire Therapeutics Inc (NASDAQ: GEMP) opened at $13.49 and traded in a range between, $13.25 and $13.50 yesterday, and last traded at $13.40, which represents a change of $ 0.17 over the previous closing price.

Gemphire Therapeutics Inc (NASDAQ: GEMP) currently has a market cap of 50.36M

The stocks average daily volume is 67,063 shares out of a total float 1,439,000 of and some 18,385 shares crossed the trading desk yesterday, 58 percent lower than normal. Look for trading volume to pick up in the coming days as momentum traders often use upticks in trading volume to identify heavy volume accumulation or distribution by institutional investors.

While increased trading for one day will not mean much, conversely, a trend of heavy trading volume on the buy side over a period of days or weeks sends a positive signal to market traders that institutions may be moving in, so institutional sponsorship is very important.

Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.

These instituitional investors have teams of analysts researching thousands of stocks, so it is good confirmation to see them buying a stock you are researching.

By identifying trends, moving averages allow investors to make those trends work in their favor and increase the number of successful trades.

With that in mind Gemphire Therapeutics Inc (NASDAQ: GEMP) now has a 50-day MA is $10.24 and 200-day MA is $10.24, and it has traded in a 52-week range between $8.80 – 13.98 and today’s last price is -4.15 percent off the 52 week high.

Indeed, earnings growth is among the most important things to look in regards to stock investing and, accordingly, investors seek companies who have been successful at growing their earnings by at least 25 percent over a 3 year period.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of BNB Daily News. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please see our terms and conditions page.

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