StockNews.com Initiates Coverage on RedHill Biopharma (NASDAQ:RDHL)

Posted by Maddie Sorensen on Jun 15th, 2024

Research analysts at StockNews.com initiated coverage on shares of RedHill Biopharma (NASDAQ:RDHL – Get Free Report) in a research report issued on Thursday. The firm set a “hold” rating on the biotechnology company’s stock.

RedHill Biopharma Stock Performance

Shares of RedHill Biopharma stock opened at $0.39 on Thursday. The business has a 50-day moving average of $0.45 and a 200-day moving average of $0.75. RedHill Biopharma has a 1-year low of $0.26 and a 1-year high of $3.28.

Hedge Funds Weigh In On RedHill Biopharma

Several large investors have recently modified their holdings of RDHL. Armistice Capital LLC bought a new position in shares of RedHill Biopharma during the third quarter worth about $369,000. Sabby Management LLC bought a new position in shares of RedHill Biopharma during the third quarter worth about $324,000. Finally, Gagnon Securities LLC lifted its position in shares of RedHill Biopharma by 32.1% during the first quarter. Gagnon Securities LLC now owns 118,360 shares of the biotechnology company’s stock worth $63,000 after purchasing an additional 28,771 shares during the last quarter. Institutional investors own 7.20% of the company’s stock.

About RedHill Biopharma

(Get Free Report)

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.