Equities researchers at UBS AG began coverage on shares of Redhill Biopharma Ltd. (NASDAQ:RDHL) in a research report issued to clients and investors on Wednesday. The brokerage set a “reduce” rating on the biotechnology company’s stock.
A number of other brokerages have also recently issued reports on RDHL. HC Wainwright set a $33.00 price target on shares of Redhill Biopharma and gave the stock a “buy” rating in a research note on Wednesday, July 26th. Roth Capital set a $27.00 price target on shares of Redhill Biopharma and gave the stock a “buy” rating in a research note on Monday, July 31st. Zacks Investment Research upgraded shares of Redhill Biopharma from a “sell” rating to a “hold” rating in a research note on Tuesday, August 29th. Finally, FBR & Co reiterated a “buy” rating on shares of Redhill Biopharma in a research note on Friday, June 16th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $23.69.
Redhill Biopharma (NASDAQ:RDHL) opened at 8.42 on Wednesday. The company’s market capitalization is $144.51 million. The firm has a 50 day moving average of $8.89 and a 200-day moving average of $9.41. Redhill Biopharma has a 1-year low of $8.16 and a 1-year high of $15.35.
Redhill Biopharma (NASDAQ:RDHL) last released its earnings results on Tuesday, July 25th. The biotechnology company reported ($0.60) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.58) by ($0.02). The firm had revenue of $0.48 million for the quarter, compared to analysts’ expectations of $0.34 million. On average, equities research analysts anticipate that Redhill Biopharma will post ($2.36) earnings per share for the current fiscal year.
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A number of institutional investors have recently made changes to their positions in the stock. Family Management Corp boosted its stake in Redhill Biopharma by 51.5% in the 2nd quarter. Family Management Corp now owns 25,750 shares of the biotechnology company’s stock worth $222,000 after purchasing an additional 8,750 shares in the last quarter. D.A. Davidson & CO. boosted its stake in Redhill Biopharma by 10.0% in the 2nd quarter. D.A. Davidson & CO. now owns 44,000 shares of the biotechnology company’s stock worth $379,000 after purchasing an additional 4,000 shares in the last quarter. Oppenheimer & Co. Inc. boosted its stake in Redhill Biopharma by 10.8% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 25,569 shares of the biotechnology company’s stock worth $220,000 after purchasing an additional 2,500 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Redhill Biopharma by 13.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 12,005 shares of the biotechnology company’s stock worth $103,000 after purchasing an additional 1,440 shares in the last quarter. Finally, Jane Street Group LLC bought a new position in Redhill Biopharma in the 1st quarter worth about $276,000. Institutional investors own 10.99% of the company’s stock.
About Redhill Biopharma
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.
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