Zacks Investment Research lowered shares of REDHILL BIOPHAR/S (NASDAQ:RDHL) from a hold rating to a sell rating in a research report released on Friday 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). “
Several other analysts also recently issued reports on RDHL. ValuEngine upgraded REDHILL BIOPHAR/S from a sell rating to a hold rating in a research note on Wednesday, October 3rd. LADENBURG THALM/SH SH set a $24.00 price target on REDHILL BIOPHAR/S and gave the stock a buy rating in a research note on Wednesday, December 12th. WBB Securities began coverage on REDHILL BIOPHAR/S in a research note on Monday, December 31st. They set a buy rating and a $5.36 price target for the company. Finally, HC Wainwright set a $36.00 price target on REDHILL BIOPHAR/S and gave the stock a buy rating in a research note on Wednesday, November 14th. Two equities research analysts have rated the stock with a sell rating and four have issued a buy rating to the stock. REDHILL BIOPHAR/S currently has a consensus rating of Hold and a consensus price target of $18.52.
REDHILL BIOPHAR/S (NASDAQ:RDHL) last issued its earnings results on Tuesday, November 13th. The biotechnology company reported ($0.40) EPS for the quarter, meeting analysts’ consensus estimates of ($0.40). The firm had revenue of $2.21 million for the quarter, compared to the consensus estimate of $2.54 million. REDHILL BIOPHAR/S had a negative return on equity of 112.99% and a negative net margin of 461.55%. Research analysts predict that REDHILL BIOPHAR/S will post -1.75 EPS for the current year.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Creative Planning lifted its position 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 purchasing an additional 22,561 shares during the last quarter. Ibex Investors LLC lifted its position in shares of REDHILL BIOPHAR/S by 5.4% during the 3rd quarter. Ibex Investors LLC now owns 527,000 shares of the biotechnology company’s stock worth $4,653,000 after purchasing an additional 27,000 shares during the last quarter. JPMorgan Chase & Co. lifted its position 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 purchasing an additional 28,102 shares during the last quarter. Disciplined Growth Investors Inc. MN acquired a new position in shares of REDHILL BIOPHAR/S during the 3rd quarter worth about $295,000. Finally, Clear Harbor Asset Management LLC acquired a new position in shares of REDHILL BIOPHAR/S during the 3rd quarter worth about $323,000. 31.24% of the stock is owned by institutional investors and hedge funds.
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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