Gemphire Therapeutics upgraded to Buy from Hold at Laidlaw
Laidlaw analyst Francois Brisebois upgraded Gemphire Therapeutics to Buy from Hold after the company recently announced topline results based on their preliminary review of the limited dataset from their investigator-led Phase 2a study of adult patients with FPLD, a rare genetic disorder that remains a very difficult patient population with no other alternative. He was encouraged that gemcabene showed reduction in TG in some patients at 12 weeks and "particularly impressed" with gemcabene's safety profile, Brisebois tells investors. The analyst, who noted that Gemphire won't start any of its Phase 3 studies before resolution of their clinical hold, said he believes the believes the selloff in the stock has been overdone since the FDA requested data from a sub-chronic toxicology study for additional information to remove their partial clinical hold. He keeps a $2 price target on the stock.