REDHILL BIOPHAR/S (NASDAQ:RDHL) has been given a $36.00 target price by HC Wainwright in a note issued to investors on Wednesday. The brokerage currently has a “buy” rating on the biotechnology company’s stock. HC Wainwright’s target price indicates a potential upside of 296.48% from the stock’s previous close.
The analysts wrote, “We have updated our model to reflect the reported 3Q18 financials. Currently, we project revenues of $10.4M and a net loss of $0.18 per share for 2018. The company also reported approximately $43M in cash and cash equivalents at the end of 3Q18, which we believe is sufficient to fund operations into 2Q19.””
RDHL has been the topic of several other research reports. Zacks Investment Research lowered shares of REDHILL BIOPHAR/S from a “buy” rating to a “hold” rating in a report on Tuesday, November 6th. ValuEngine lowered shares of REDHILL BIOPHAR/S from a “hold” rating to a “sell” rating in a report on Thursday, October 11th. One research analyst has rated the stock with a sell rating, four have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $20.65.
Shares of NASDAQ:RDHL traded down $0.27 during midday trading on Wednesday, hitting $9.08. 1,391 shares of the company’s stock traded hands, compared to its average volume of 72,051. The firm has a market capitalization of $186.78 million, a price-to-earnings ratio of -3.61 and a beta of 0.84. REDHILL BIOPHAR/S has a twelve month low of $4.30 and a twelve month high of $11.49.
REDHILL BIOPHAR/S (NASDAQ:RDHL) last posted its earnings results on Thursday, August 30th. The biotechnology company reported ($0.52) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate 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 net margin of 564.71% and a negative return on equity of 133.07%. Equities research analysts forecast that REDHILL BIOPHAR/S will post -1.69 EPS for the current year.
Hedge funds have recently modified their holdings of the business. Clear Harbor Asset Management LLC acquired a new position in REDHILL BIOPHAR/S in the 3rd quarter worth $323,000. JPMorgan Chase & Co. lifted its holdings in 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 buying an additional 28,102 shares in the last quarter. ARK Investment Management LLC lifted its holdings in 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 buying an additional 8,894 shares in the last quarter. Renaissance Technologies LLC acquired a new position in REDHILL BIOPHAR/S in the 3rd quarter worth $1,226,000. Finally, Creative Planning lifted its holdings in 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 buying an additional 22,561 shares in the last quarter. Hedge funds and other institutional investors own 22.83% of the company’s stock.
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.
See Also: What are no-load funds?
Receive News & Ratings for REDHILL BIOPHAR/S Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for REDHILL BIOPHAR/S and related companies with MarketBeat.com's FREE daily email newsletter.