REDHILL BIOPHAR/S (NASDAQ:RDHL) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report released on Wednesday. The firm currently has a $9.25 target price on the biotechnology company’s stock. Zacks Investment Research‘s price target indicates a potential upside of 6.57% from the company’s current price.
According to Zacks, “Redhill Biopharma Ltd, is an Israel-based specialty biopharmaceutical company. The Company focuses on the development and commercialization of late clinical-stage, proprietary, orally-administered, small molecule drugs for the treatment of gastrointestinal and inflammatory diseases and cancer. It offers the following gastrointestinal products in the United States: Donnatal, a prescription oral adjunctive drug used in the treatment of Irritable Bowel Syndrome (IBS) and acute enterocolitis, as well as EnteraGam, a medical food intended for the dietary management, under medical supervision, of chronic diarrhea and loose stools. Its clinical-stage pipeline includes: TALICIA (RHB-105), an oral combination therapy for the treatment of Helicobacter pylori infection; RHB-104, an oral combination therapy for the treatment of Crohn’s disease; BEKINDA (RHB-102), a once-daily oral pill formulation of ondansetron; RHB-106; YELIVA (ABC294640); MESUPRON, and RIZAPORT (RHB-103). “
A number of other analysts have also recently commented on the stock. ValuEngine cut shares of REDHILL BIOPHAR/S from a “hold” rating to a “sell” rating in a research report on Monday, July 30th. HC Wainwright set a $36.00 price objective on shares of REDHILL BIOPHAR/S and gave the company a “buy” rating in a research report on Tuesday, October 23rd. One equities research analyst has rated the stock with a sell rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. REDHILL BIOPHAR/S presently has an average rating of “Buy” and a consensus target price of $20.65.
REDHILL BIOPHAR/S (NASDAQ:RDHL) last released its quarterly earnings data on Thursday, August 30th. The biotechnology company reported ($0.52) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.47) by ($0.05). REDHILL BIOPHAR/S had a negative net margin of 564.71% and a negative return on equity of 133.07%. The firm had revenue of $2.35 million during the quarter, compared to the consensus estimate of $2.77 million. On average, research analysts predict that REDHILL BIOPHAR/S will post -1.69 earnings per share for the current year.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Clear Harbor Asset Management LLC acquired a new position in REDHILL BIOPHAR/S in the 3rd quarter worth $323,000. JPMorgan Chase & Co. boosted its stake in REDHILL BIOPHAR/S by 61.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 73,878 shares of the biotechnology company’s stock worth $652,000 after purchasing an additional 28,102 shares during the period. ARK Investment Management LLC boosted its stake in REDHILL BIOPHAR/S by 8.6% in the 2nd quarter. ARK Investment Management LLC now owns 112,648 shares of the biotechnology company’s stock worth $961,000 after purchasing an additional 8,894 shares during the period. Creative Planning boosted its stake in REDHILL BIOPHAR/S by 16.1% in the 3rd quarter. Creative Planning now owns 162,950 shares of the biotechnology company’s stock worth $1,439,000 after purchasing an additional 22,561 shares during the period. Finally, 683 Capital Management LLC boosted its stake in REDHILL BIOPHAR/S by 22.8% in the 2nd quarter. 683 Capital Management LLC now owns 2,042,654 shares of the biotechnology company’s stock worth $17,424,000 after purchasing an additional 378,751 shares during the period. 22.80% of the stock is owned by hedge funds and other institutional investors.
About REDHILL BIOPHAR/S
RedHill Biopharma Ltd., a specialty biopharmaceutical company, focuses on the development and commercialization of late clinical-stage drugs for the treatment of gastrointestinal diseases. It commercializes and promotes gastrointestinal products in the United States. The company's pipeline includes various drug candidates that are in advanced clinical development stages, including three Phase III-stage programs.
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