RedHill Biopharma (NASDAQ:RDHL) Receives New Coverage from Analysts at StockNews.com

StockNews.com initiated coverage on shares of RedHill Biopharma (NASDAQ:RDHL) in a research note released on Wednesday morning. The brokerage issued a hold rating on the biotechnology company’s stock.

RedHill Biopharma Stock Down 16.0 %

RedHill Biopharma stock opened at $0.64 on Wednesday. RedHill Biopharma has a fifty-two week low of $0.26 and a fifty-two week high of $3.28. The firm’s fifty day moving average price is $0.41 and its 200-day moving average price is $0.50.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in RedHill Biopharma stock. Gagnon Securities LLC increased its stake in RedHill Biopharma Ltd. (NASDAQ:RDHL) by 32.1% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 118,360 shares of the biotechnology company’s stock after acquiring an additional 28,771 shares during the period. Gagnon Securities LLC owned about 0.40% of RedHill Biopharma worth $63,000 as of its most recent SEC filing. Institutional investors and hedge funds own 7.20% of the company’s stock.

About RedHill Biopharma

RedHill Biopharma Ltd., a specialty biopharmaceutical company, primarily focuses on gastrointestinal and infectious diseases. The company develops and commercializes Talicia for the treatment of H. pylori infection in adults; and Aemcolo for the treatment of travelers' diarrhea in adults. Its pipeline consists of five therapeutic candidates, which are in clinical development include opaganib for treating patients hospitalized with SARS-CoV-2 severe COVID-19 pneumonia, advanced unresectable cholangiocarcinoma, prostate cancer, and nuclear radiation protection; RHB-107 (upamostat) for treating outpatients infected with SARS-CoV-2 (COVID-19 disease) and advanced unresectable cholangiocarcinoma; RHB-104 for Crohn's disease; RHB-102 (Bekinda) for the treatment of acute gastroenteritis and gastritis, irritable bowel syndrome with diarrhea, and oncology support anti-emetic; and RHB-204 for pulmonary nontuberculous mycobacteria infections caused by mycobacterium avium complex.