Redhill Biopharma’s (NASDAQ:RDHL) Buy Rating Reiterated at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Redhill Biopharma (NASDAQ:RDHL) in a report released on Tuesday, November 21st. They currently have a $36.00 price target on the biotechnology company’s stock.

RDHL has been the subject of a number of other research reports. Zacks Investment Research upgraded Redhill Biopharma from a sell rating to a hold rating in a report on Tuesday, August 29th. UBS started coverage on Redhill Biopharma in a research report on Wednesday, September 13th. They issued a reduce rating on the stock. Roth Capital cut their target price on Redhill Biopharma from $27.00 to $20.00 and set a buy rating on the stock in a research report on Tuesday, November 14th. Finally, Seaport Global Securities started coverage on Redhill Biopharma in a research report on Friday, October 6th. They issued a buy rating and a $19.00 target price on the stock. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of Buy and an average target price of $21.10.

Shares of Redhill Biopharma (RDHL) traded up $0.35 during trading hours on Tuesday, hitting $4.95. The company’s stock had a trading volume of 240,159 shares, compared to its average volume of 97,728. Redhill Biopharma has a fifty-two week low of $4.30 and a fifty-two week high of $11.99.

Several hedge funds have recently bought and sold shares of RDHL. Bank of New York Mellon Corp purchased a new stake in shares of Redhill Biopharma during the 1st quarter worth about $101,000. Renaissance Technologies LLC boosted its stake in shares of Redhill Biopharma by 144.1% during the 1st quarter. Renaissance Technologies LLC now owns 62,000 shares of the biotechnology company’s stock worth $595,000 after acquiring an additional 36,600 shares in the last quarter. Oppenheimer & Co. Inc. boosted its stake in shares of Redhill Biopharma by 10.8% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 25,569 shares of the biotechnology company’s stock worth $220,000 after acquiring an additional 2,500 shares in the last quarter. D.A. Davidson & CO. boosted its stake in shares of Redhill Biopharma by 10.0% during the 2nd quarter. D.A. Davidson & CO. now owns 44,000 shares of the biotechnology company’s stock worth $379,000 after acquiring an additional 4,000 shares in the last quarter. Finally, Family Management Corp lifted its stake in Redhill Biopharma by 51.5% in the 2nd quarter. Family Management Corp now owns 25,750 shares of the biotechnology company’s stock valued at $222,000 after buying an additional 8,750 shares in the last quarter. 8.47% of the stock is currently owned by institutional investors and hedge funds.

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Redhill Biopharma Company Profile

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.

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