UPDATE: RBC Capital Starts Gemphire Therapeutics (GEMP) at Outperform
- Top 10 News for 10/17 - 10/21: Merger Rumors Abound; CEOs Depart; Tesla Kicks Autopilot Up A Notch
- Wall Street ends little changed; Microsoft hits record
- AT&T (T) in Advanced Talks to Acquire Time Warner (TWX) - DJ
- Rockwell Automation (ROK) Said to Attract Takeover Interest from Schneider Electric - Source
- British American Tobacco Offers to Acquire Remaining Shares of Reynolds American (RAI) for $56.50/Share
News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.
(Updated - August 30, 2016 7:41 AM EDT)
RBC Capital initiated coverage on Gemphire Therapeutics (NASDAQ: GEMP) with an Outperform rating and a price target of $25. Analyst Adnan Butt sees potential for significant upside.
"We initiate coverage with an Outperform rating and $25 price target. Gemcabene is differentiated and lowers both cholesterol and triglyceride levels to address cardiovascular diseases affecting 16M patients in the U.S. alone. Phase 2b trials are ongoing and could have data in 2017. GEMP has development flexibility, multiple paths to maximize gemcabene opportunity, owns all rights, and there is scarcity value for cardiovascular assets," said Butt.
Shares of Gemphire Therapeutics closed at $10.15 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- RBC Capital Raises Price Target on Danaher (DHR) Following 'Clean' 3Q Report
- SunTrust Raises Price Target on E*TRADE Financial (ETFC) to $31 Following Solid 3Q
- RBC Capital Remains Bullish on Panera Bread (PNRA) Ahead of 3Q Release
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS View, New Coverage
Related EntitiesRBC Capital
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!