RedHill Biopharma Ltd (NASDAQ:RDHL) has received an average rating of “Buy” from the seven brokerages that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $23.25.
Separately, Nomura assumed coverage on RedHill Biopharma in a report on Friday, January 26th. They set a “buy” rating and a $18.00 price target on the stock.
A number of large investors have recently made changes to their positions in the stock. 683 Capital Management LLC bought a new stake in RedHill Biopharma during the fourth quarter worth approximately $5,136,000. Creative Planning bought a new stake in RedHill Biopharma during the fourth quarter worth approximately $722,000. Virtu Financial LLC bought a new stake in RedHill Biopharma during the fourth quarter worth approximately $312,000. Meitav Dash Investments Ltd. bought a new stake in RedHill Biopharma during the fourth quarter worth approximately $244,000. Finally, Family Management Corp raised its holdings in RedHill Biopharma by 46.6% during the third quarter. Family Management Corp now owns 37,750 shares of the biotechnology company’s stock worth $408,000 after purchasing an additional 12,000 shares in the last quarter. 16.03% of the stock is currently owned by hedge funds and other institutional investors.
RedHill Biopharma (NASDAQ:RDHL) last released its quarterly earnings results on Thursday, February 22nd. The biotechnology company reported ($0.50) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.65) by $0.15. The business had revenue of $2.00 million for the quarter, compared to the consensus estimate of $1.89 million. equities analysts forecast that RedHill Biopharma will post -1.95 earnings per share for the current fiscal year.
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About RedHill Biopharma
RedHill Biopharma Ltd., a specialty biopharmaceutical company, primarily focuses on the development and commercialization of late clinical-stage, proprietary, and in-licensed/acquired drugs for the treatment of gastrointestinal and inflammatory diseases, and cancer. The company commercializes three gastrointestinal products in the United States, such as Donnatal, a prescription oral adjunctive drug used in the treatment of irritable bowel syndrome (IBS), and acute enterocolitis and duodenal ulcers; EnteraGam, a prescription medical food intended for the dietary management, under medical supervision, of chronic diarrhea and loose stools; and Esomeprazole Strontium Delayed-Release Capsules 49.3 mg, a prescription proton pump inhibitor drug product indicated for adults for the treatment of GERD, risk reduction of NSAID-associated gastric ulcer, Helicobacter pylori eradication to reduce the risk of duodenal ulcer recurrence, and for pathological hypersecretory conditions.
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