Zacks Investment Research upgraded shares of REDHILL BIOPHAR/S (NASDAQ:RDHL) from a hold rating to a buy rating in a research note issued to investors on Friday, Zacks.com reports. They currently have $8.00 price target 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). “
Other research analysts also recently issued research reports about the company. ValuEngine raised REDHILL BIOPHAR/S from a sell rating to a hold rating in a research note on Monday, July 22nd. WBB Securities raised REDHILL BIOPHAR/S from a buy rating to a strong-buy rating and set a $17.00 price target for the company in a research note on Friday, July 12th. Finally, Ascendiant Capital Markets set a $23.00 price target on REDHILL BIOPHAR/S and gave the company a buy rating in a research note on Monday, July 8th. One analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. REDHILL BIOPHAR/S presently has a consensus rating of Buy and a consensus target price of $17.60.
REDHILL BIOPHAR/S (NASDAQ:RDHL) last posted its quarterly earnings results on Tuesday, July 23rd. The biotechnology company reported ($0.38) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.32) by ($0.06). The company had revenue of $1.56 million during the quarter, compared to analyst estimates of $2.23 million. REDHILL BIOPHAR/S had a negative net margin of 561.47% and a negative return on equity of 93.55%. Equities analysts predict that REDHILL BIOPHAR/S will post -1.45 earnings per share for the current year.
Hedge funds have recently bought and sold shares of the stock. ETF Managers Group LLC raised its stake in REDHILL BIOPHAR/S by 10.7% in the second quarter. ETF Managers Group LLC now owns 46,255 shares of the biotechnology company’s stock valued at $299,000 after purchasing an additional 4,453 shares in the last quarter. Sanders Morris Harris LLC acquired a new position in REDHILL BIOPHAR/S during the second quarter worth about $330,000. Jane Street Group LLC acquired a new position in REDHILL BIOPHAR/S during the second quarter worth about $384,000. Finally, Ibex Investors LLC raised its stake in REDHILL BIOPHAR/S by 91.3% during the second quarter. Ibex Investors LLC now owns 1,867,000 shares of the biotechnology company’s stock worth $12,136,000 after acquiring an additional 891,072 shares in the last quarter. 37.69% 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 in the United States. It operates through two segments, Commercial Operations and Research & Development. The company's clinical-stage development programs comprise TALICIA, a drug that is in Phase III clinical trial for the helicobacter pylori infection; RHB-104 that is in Phase III clinical trials for crohn's disease, as well as that has completed Phase II clinical trial for multiple sclerosis; RHB-204 for pulmonary nontuberculous mycobacteria infections; BEKINDA 24 mg that has completed Phase III clinical trial for acute gastroenteritis and gastritis; BEKINDA 12 mg that has completed Phase II clinical trial for irritable bowel syndrome with diarrhea; RHB-106 for bowel preparation; and RHB-107 that has completed Phase II clinical trial for gastrointestinal and other solid tumors.
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