Gemphire Therapeutics Inc. (NASDAQ:GEMP) Takes Off in Trading Today – Up $1.05

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(NASDAQ:GEMP) is now up by 10.91% percent from yesterday’s close giving it a place as a top gainer in the market today. More than 223,302 shares have changed hands.

Company shares are trading at $10.70 significantly higher than $9.25, the stock’s 50 day moving average and a great deal higher than the 200 day moving average of $9.25. The 50 day moving average went up by +15.7103% and the 200 day average moved up $1.45.

Investors are a little more bearish of late as indicated by the motion in short interest. The firm recorded a rise in short interest between August 15, 2017 and August 31, 2017 of 52.92%. Short shares grew 148,494 over that timeframe. Days to cover increased 6.0 to 7.0 and the percentage of shorted shares is 0.04% as of August 31.

H.C. Wainwright starting coverage on the stock by announcing an initial rating of “Buy”.

In the last earnings report the EPS was $-3.22 and is projected to be $-3.18 for the current year with 10,626,000 shares now outstanding. Next quarter’s EPS is forecasted at $-0.57 and the next full year EPS is anticipated to be $-2.52.