Zacks Investment Research upgraded shares of REDHILL BIOPHAR/S (NASDAQ:RDHL) from a hold rating to a buy rating in a research report sent to investors on Tuesday, Zacks.com reports. The brokerage currently has $9.75 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). “
A number of other equities research analysts also recently issued reports on the company. HC Wainwright set a $36.00 price objective on REDHILL BIOPHAR/S and gave the stock a buy rating in a research report on Monday, January 14th. WBB Securities started coverage on REDHILL BIOPHAR/S in a research report on Monday, December 31st. They set a buy rating and a $5.36 price target on the stock. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. The company currently has an average rating of Buy and an average target price of $16.69.
Shares of NASDAQ RDHL opened at $8.50 on Tuesday. REDHILL BIOPHAR/S has a 1-year low of $4.40 and a 1-year high of $11.49. The firm has a market cap of $186.14 million, a price-to-earnings ratio of -5.00 and a beta of 1.75.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. 683 Capital Management LLC grew its position in REDHILL BIOPHAR/S by 1.7% in the 4th quarter. 683 Capital Management LLC now owns 3,693,840 shares of the biotechnology company’s stock worth $20,501,000 after purchasing an additional 62,821 shares during the period. Ibex Investors LLC boosted its holdings in REDHILL BIOPHAR/S by 78.2% in the 4th quarter. Ibex Investors LLC now owns 939,014 shares of the biotechnology company’s stock worth $5,212,000 after buying an additional 412,014 shares during the period. Millennium Management LLC boosted its holdings in REDHILL BIOPHAR/S by 69.9% in the 4th quarter. Millennium Management LLC now owns 301,693 shares of the biotechnology company’s stock worth $1,674,000 after buying an additional 124,072 shares during the period. Creative Planning boosted its holdings in REDHILL BIOPHAR/S by 73.9% in the 4th quarter. Creative Planning now owns 283,350 shares of the biotechnology company’s stock worth $1,573,000 after buying an additional 120,400 shares during the period. Finally, FMR LLC bought a new position in REDHILL BIOPHAR/S in the 4th quarter worth $1,110,000. Institutional investors own 38.70% of the company’s stock.
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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