Redhill Biopharma Ltd. (RDHL) Upgraded to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Redhill Biopharma Ltd. (NASDAQ:RDHL) from a hold rating to a buy rating in a report issued on Friday morning. Zacks Investment Research currently has $5.50 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). “

RDHL has been the topic of a number of other reports. HC Wainwright set a $33.00 price target on Redhill Biopharma and gave the stock a buy rating in a research note on Wednesday, July 26th. UBS AG started coverage on Redhill Biopharma in a research report on Wednesday, September 13th. They set a reduce rating on the stock. Roth Capital lowered their target price on Redhill Biopharma from $27.00 to $20.00 and set a buy rating on the stock in a research report on Tuesday. Finally, Seaport Global Securities started coverage on Redhill Biopharma in a research report on Friday, October 6th. They set a buy rating and a $19.00 target price on the stock. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. Redhill Biopharma has an average rating of Buy and a consensus target price of $21.10.

Redhill Biopharma (RDHL) traded up $0.07 during mid-day trading on Friday, hitting $5.19. The stock had a trading volume of 127,023 shares, compared to its average volume of 93,492. Redhill Biopharma has a 52-week low of $4.82 and a 52-week high of $12.09.

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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC lifted its position in shares of Redhill Biopharma by 144.1% in the first quarter. Renaissance Technologies LLC now owns 62,000 shares of the biotechnology company’s stock valued at $595,000 after acquiring an additional 36,600 shares in the last quarter. D.A. Davidson & CO. lifted its position in shares of Redhill Biopharma by 10.0% in the second quarter. D.A. Davidson & CO. now owns 44,000 shares of the biotechnology company’s stock valued at $379,000 after acquiring an additional 4,000 shares in the last quarter. Family Management Corp lifted its position in shares of Redhill Biopharma by 46.6% in the third quarter. Family Management Corp now owns 37,750 shares of the biotechnology company’s stock valued at $408,000 after acquiring an additional 12,000 shares in the last quarter. Oppenheimer & Co. Inc. lifted its position in shares of Redhill Biopharma by 10.8% in the second quarter. Oppenheimer & Co. Inc. now owns 25,569 shares of the biotechnology company’s stock valued at $220,000 after acquiring an additional 2,500 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Redhill Biopharma by 13.6% in the second quarter. Bank of New York Mellon Corp now owns 12,005 shares of the biotechnology company’s stock valued at $103,000 after acquiring an additional 1,440 shares in the last quarter. Institutional investors own 10.74% 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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