Zacks Investment Research upgraded shares of REDHILL BIOPHAR/S (NASDAQ:RDHL) from a hold rating to a strong-buy rating in a report issued on Wednesday morning. The brokerage currently has $9.25 target price on the biotechnology company’s stock.
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). “
Several other brokerages have also recently weighed in on RDHL. ValuEngine raised shares of REDHILL BIOPHAR/S from a sell rating to a hold rating in a research report on Wednesday, October 3rd. HC Wainwright reaffirmed a buy rating on shares of REDHILL BIOPHAR/S in a research report on Tuesday, July 31st. One research analyst has rated the stock with a sell rating, four have issued a buy rating and one has given a strong buy rating to the stock. REDHILL BIOPHAR/S has a consensus rating of Buy and a consensus target price of $20.65.
REDHILL BIOPHAR/S (NASDAQ:RDHL) last announced its quarterly earnings results on Thursday, August 30th. The biotechnology company reported ($0.52) earnings per share for the quarter, missing the consensus estimate of ($0.47) by ($0.05). REDHILL BIOPHAR/S had a negative return on equity of 133.07% and a negative net margin of 564.71%. The business had revenue of $2.35 million during the quarter, compared to analysts’ expectations of $2.77 million. On average, equities analysts expect that REDHILL BIOPHAR/S will post -1.69 earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently made changes to their positions in the company. Clear Harbor Asset Management LLC bought a new position in shares of REDHILL BIOPHAR/S during the 3rd quarter worth approximately $323,000. JPMorgan Chase & Co. raised its stake in shares of REDHILL BIOPHAR/S by 61.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 73,878 shares of the biotechnology company’s stock worth $652,000 after acquiring an additional 28,102 shares in the last quarter. ARK Investment Management LLC raised its stake in shares of REDHILL BIOPHAR/S by 8.6% during the 2nd quarter. ARK Investment Management LLC now owns 112,648 shares of the biotechnology company’s stock worth $961,000 after acquiring an additional 8,894 shares in the last quarter. Creative Planning raised its stake in shares of REDHILL BIOPHAR/S by 16.1% during the 3rd quarter. Creative Planning now owns 162,950 shares of the biotechnology company’s stock worth $1,439,000 after acquiring an additional 22,561 shares in the last quarter. Finally, 683 Capital Management LLC raised its stake in shares of REDHILL BIOPHAR/S by 22.8% during the 2nd quarter. 683 Capital Management LLC now owns 2,042,654 shares of the biotechnology company’s stock worth $17,424,000 after acquiring an additional 378,751 shares in the last quarter. 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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