Analysts Expect REDHILL BIOPHAR/S (NASDAQ:RDHL) Will Post Quarterly Sales of $2.23 Million

Analysts expect REDHILL BIOPHAR/S (NASDAQ:RDHL) to post sales of $2.23 million for the current quarter, according to Zacks. Two analysts have made estimates for REDHILL BIOPHAR/S’s earnings, with the lowest sales estimate coming in at $2.06 million and the highest estimate coming in at $2.40 million. REDHILL BIOPHAR/S reported sales of $2.35 million during the same quarter last year, which would suggest a negative year over year growth rate of 5.1%. The company is scheduled to announce its next earnings results on Thursday, August 29th.

On average, analysts expect that REDHILL BIOPHAR/S will report full-year sales of $11.53 million for the current year, with estimates ranging from $8.39 million to $16.20 million. For the next year, analysts forecast that the company will report sales of $31.84 million, with estimates ranging from $13.00 million to $49.41 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for REDHILL BIOPHAR/S.

REDHILL BIOPHAR/S (NASDAQ:RDHL) last released its quarterly earnings results on Tuesday, May 7th. The biotechnology company reported ($0.35) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.39) by $0.04. The company had revenue of $1.74 million during the quarter, compared to analyst estimates of $2.98 million. REDHILL BIOPHAR/S had a negative return on equity of 97.62% and a negative net margin of 506.47%.

Several research analysts recently commented on the company. Zacks Investment Research upgraded REDHILL BIOPHAR/S from a “hold” rating to a “buy” rating and set a $9.75 price target for the company in a research report on Thursday, March 21st. WBB Securities raised shares of REDHILL BIOPHAR/S from a “speculative buy” rating to a “buy” rating and set a $17.00 price objective for the company in a research note on Tuesday, March 12th. Finally, HC Wainwright reissued a “buy” rating and issued a $16.00 price objective on shares of REDHILL BIOPHAR/S in a research note on Wednesday, February 27th. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $16.44.

RDHL traded up $0.21 on Friday, hitting $7.33. The company had a trading volume of 57,300 shares, compared to its average volume of 64,384. The firm has a market cap of $153.55 million, a P/E ratio of -4.31 and a beta of 1.59. REDHILL BIOPHAR/S has a 12-month low of $5.13 and a 12-month high of $11.49. The company has a current ratio of 4.09, a quick ratio of 3.99 and a debt-to-equity ratio of 0.06.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Van ECK Associates Corp lifted its stake in REDHILL BIOPHAR/S by 42.1% in the fourth quarter. Van ECK Associates Corp now owns 10,787 shares of the biotechnology company’s stock worth $60,000 after purchasing an additional 3,195 shares during the last quarter. Geode Capital Management LLC bought a new stake in REDHILL BIOPHAR/S in the fourth quarter worth about $73,000. D. E. Shaw & Co. Inc. bought a new stake in REDHILL BIOPHAR/S in the fourth quarter worth about $186,000. ETF Managers Group LLC lifted its stake in REDHILL BIOPHAR/S by 37.3% in the fourth quarter. ETF Managers Group LLC now owns 46,782 shares of the biotechnology company’s stock worth $260,000 after purchasing an additional 12,706 shares during the last quarter. Finally, CLARET ASSET MANAGEMENT Corp lifted its stake in REDHILL BIOPHAR/S by 42.1% in the fourth quarter. CLARET ASSET MANAGEMENT Corp now owns 67,522 shares of the biotechnology company’s stock worth $375,000 after purchasing an additional 20,000 shares during the last quarter. 36.03% of the stock is owned by institutional investors and hedge funds.

REDHILL BIOPHAR/S Company Profile

RedHill Biopharma Ltd., a specialty biopharmaceutical company, focuses on the development and commercialization of late clinical-stage drugs for the treatment of gastrointestinal diseases in the United States. It operates through two segments, Commercial Operations and Research & Development. The company's clinical-stage development programs comprise TALICIA, a drug that is in Phase III clinical trial for the helicobacter pylori infection; RHB-104 that is in Phase III clinical trials for crohn's disease, as well as that has completed Phase II clinical trial for multiple sclerosis; RHB-204 for pulmonary nontuberculous mycobacteria infections; BEKINDA 24 mg that has completed Phase III clinical trial for acute gastroenteritis and gastritis; BEKINDA 12 mg that has completed Phase II clinical trial for irritable bowel syndrome with diarrhea; RHB-106 for bowel preparation; and RHB-107 that has completed Phase II clinical trial for gastrointestinal and other solid tumors.

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