Zacks Investment Research cut shares of REDHILL BIOPHAR/S (NASDAQ:RDHL) from a buy rating to a hold rating in a research report report published on Tuesday morning.
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). “
A number of other equities analysts have also weighed in on the stock. HC Wainwright set a $36.00 price target on shares of REDHILL BIOPHAR/S and gave the stock a buy rating in a research report on Tuesday, October 23rd. ValuEngine lowered shares of REDHILL BIOPHAR/S from a hold rating to a sell rating in a research report on Thursday, October 11th. One investment analyst has rated the stock with a sell rating, four have given a buy rating and one has assigned a strong buy rating to the company. REDHILL BIOPHAR/S currently has a consensus rating of Buy and a consensus price target of $20.65.
REDHILL BIOPHAR/S (NASDAQ:RDHL) last posted its quarterly earnings results on Thursday, August 30th. The biotechnology company reported ($0.52) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.05). The business had revenue of $2.35 million for the quarter, compared to analyst estimates of $2.77 million. REDHILL BIOPHAR/S had a negative return on equity of 133.07% and a negative net margin of 564.71%. Equities analysts anticipate that REDHILL BIOPHAR/S will post -1.69 EPS for the current year.
A number of large investors have recently bought and sold shares of RDHL. 683 Capital Management LLC boosted its holdings in REDHILL BIOPHAR/S by 22.8% in the 2nd quarter. 683 Capital Management LLC now owns 2,042,654 shares of the biotechnology company’s stock valued at $17,424,000 after purchasing an additional 378,751 shares during the last quarter. Clear Harbor Asset Management LLC acquired a new position in shares of REDHILL BIOPHAR/S in the 3rd quarter worth approximately $323,000. JPMorgan Chase & Co. lifted its holdings in shares of REDHILL BIOPHAR/S by 61.4% in 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 during the last quarter. Creative Planning lifted its holdings in shares of REDHILL BIOPHAR/S by 16.1% in 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 during the last quarter. Finally, ARK Investment Management LLC lifted its holdings in shares of REDHILL BIOPHAR/S by 8.6% in 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 during the last quarter. Institutional investors own 22.80% of the company’s stock.
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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