Gemphire Therapeutics (GEMP): Raising PT To $17 On Stronger Data - Jefferies
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Jefferies analyst, Matthew Andrews, reiterated his Buy rating on shares of Gemphire Therapeutics (NASDAQ: GEMP) and raised his price target to $17 from $15 after the Phase II(b) gemcabene program appears to be on track with dosing of first HoFH patient, two other Ph. II(b)’s to start by late Q4 2016/Q1 2017, and interim HoFH data in early 2017.
The analyst stated "we see ESPR's amended ETC-1002 strategy of also pursuing the high-dose statin HeFH/ASCVD markets as validation of GEMP's clinical/ regulatory strategy".
Shares of Gemphire Therapeutics closed at $10.11 yesterday.
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