Zacks Investment Research downgraded shares of REDHILL BIOPHAR/S (NASDAQ:RDHL) from a hold rating to a sell rating in a report released on Wednesday.
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 equities analysts have also recently issued reports about the stock. HC Wainwright set a $36.00 price objective on shares of REDHILL BIOPHAR/S and gave the company a buy rating in a research note on Wednesday, November 14th. ValuEngine raised shares of REDHILL BIOPHAR/S from a sell rating to a hold rating in a research note on Wednesday, October 3rd. Two investment analysts have rated the stock with a sell rating and three have issued a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $20.81.
REDHILL BIOPHAR/S (NASDAQ:RDHL) last announced its quarterly earnings data on Tuesday, November 13th. The biotechnology company reported ($0.40) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.40). The company had revenue of $2.21 million for the quarter, compared to analysts’ expectations of $2.54 million. REDHILL BIOPHAR/S had a negative net margin of 461.55% and a negative return on equity of 112.99%. Sell-side analysts expect that REDHILL BIOPHAR/S will post -1.76 EPS for the current year.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. 683 Capital Management LLC increased its stake 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 buying an additional 378,751 shares during the period. Ibex Investors LLC grew its stake 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 period. Creative Planning grew its stake 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 period. Renaissance Technologies LLC acquired a new position in shares of REDHILL BIOPHAR/S during the 3rd quarter worth $1,226,000. Finally, ARK Investment Management LLC grew its stake in shares of REDHILL BIOPHAR/S by 8.6% during the 2nd quarter. ARK Investment Management LLC now owns 112,648 shares of the biotechnology company’s stock worth $961,000 after purchasing an additional 8,894 shares during the period. 32.27% of the stock is currently owned by institutional investors.
REDHILL BIOPHAR/S Company Profile
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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