HC Wainwright Reiterates “Buy” Rating for RedHill Biopharma (NASDAQ:RDHL)

RedHill Biopharma (NASDAQ:RDHL)‘s stock had its “buy” rating reaffirmed by HC Wainwright in a note issued to investors on Friday, Price Targets.com reports. They currently have a $21.00 price target on the biotechnology company’s stock. HC Wainwright’s target price suggests a potential upside of 320.84% from the company’s previous close.

A number of other research analysts also recently weighed in on RDHL. BTIG Research lowered their price objective on shares of RedHill Biopharma from $24.00 to $16.00 and set a “buy” rating on the stock in a research report on Wednesday, September 15th. Cantor Fitzgerald started coverage on shares of RedHill Biopharma in a research report on Tuesday, August 31st. They issued an “overweight” rating and a $22.00 price target on the stock. Roth Capital reiterated a “buy” rating on shares of RedHill Biopharma in a research report on Tuesday, June 1st. Zacks Investment Research downgraded shares of RedHill Biopharma from a “hold” rating to a “sell” rating in a research report on Wednesday, September 1st. Finally, WBB Securities downgraded shares of RedHill Biopharma from a “strong-buy” rating to a “buy” rating and decreased their price target for the stock from $17.00 to $16.00 in a research report on Friday, May 28th. One research analyst has rated the stock with a sell rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $18.17.

Shares of RedHill Biopharma stock opened at $4.99 on Friday. The company has a market cap of $232.87 million, a price-to-earnings ratio of -2.12 and a beta of 1.47. The company’s 50 day moving average is $7.06 and its 200 day moving average is $7.00. RedHill Biopharma has a twelve month low of $4.48 and a twelve month high of $11.52. The company has a quick ratio of 1.13, a current ratio of 1.24 and a debt-to-equity ratio of 2.81.

RedHill Biopharma (NASDAQ:RDHL) last issued its quarterly earnings data on Wednesday, August 25th. The biotechnology company reported ($0.60) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.40) by ($0.20). The company had revenue of $21.50 million for the quarter, compared to the consensus estimate of $23.15 million. RedHill Biopharma had a negative net margin of 112.40% and a negative return on equity of 303.29%. Sell-side analysts expect that RedHill Biopharma will post -2.01 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Sowell Financial Services LLC increased its stake in shares of RedHill Biopharma by 5.9% in the first quarter. Sowell Financial Services LLC now owns 92,733 shares of the biotechnology company’s stock worth $568,000 after purchasing an additional 5,159 shares in the last quarter. Bank of Montreal Can increased its stake in shares of RedHill Biopharma by 626.7% in the first quarter. Bank of Montreal Can now owns 4,549 shares of the biotechnology company’s stock worth $30,000 after purchasing an additional 3,923 shares in the last quarter. Psagot Investment House Ltd. purchased a new stake in shares of RedHill Biopharma in the first quarter worth $1,402,000. JPMorgan Chase & Co. increased its stake in shares of RedHill Biopharma by 493,558.3% in the first quarter. JPMorgan Chase & Co. now owns 59,239 shares of the biotechnology company’s stock worth $434,000 after purchasing an additional 59,227 shares in the last quarter. Finally, ARK Investment Management LLC increased its stake in shares of RedHill Biopharma by 365.2% in the first quarter. ARK Investment Management LLC now owns 775,698 shares of the biotechnology company’s stock worth $5,678,000 after purchasing an additional 608,949 shares in the last quarter. 15.29% of the stock is owned by hedge funds and other institutional investors.

RedHill Biopharma Company Profile

RedHill Biopharma Ltd., a specialty biopharmaceutical company, primarily focused on gastrointestinal and infectious diseases. The company promotes gastrointestinal drugs, including Movantik for opioid-induced constipation in adults with chronic non-cancer pain; Talicia for the treatment of Helicobacter pylori infection in adults; and Aemcolo for the treatment of travelers' diarrhea in adults.

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Analyst Recommendations for RedHill Biopharma (NASDAQ:RDHL)

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