Jefferies analyst Matthew Andrews downgraded Gemphire Therapeutics to Hold and lowered his price target for the shares to $2 from $12. With the termination of the company’s Phase 2a clinical trial of gemcabene in pediatric patients with non-alcoholic fatty liver disease, and the timing of data unclear from the ongoing familial partial lipodystrophy study, the analyst prefers to step to the sidelines. He estimates Gemphire has $1.30 of cash per share.
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