RedHill Biopharma (NASDAQ:RDHL) Price Target Cut to $21.00

RedHill Biopharma (NASDAQ:RDHL) had its price objective lowered by equities researchers at HC Wainwright from $23.00 to $21.00 in a report released on Tuesday, Analyst Ratings Network reports. The firm currently has a “buy” rating on the biotechnology company’s stock. HC Wainwright’s price objective would suggest a potential upside of 320.00% from the company’s previous close.

A number of other research firms have also recently commented on RDHL. BTIG Research reissued a “buy” rating and set a $26.00 price target on shares of RedHill Biopharma in a report on Monday, May 31st. Zacks Investment Research cut RedHill Biopharma from a “hold” rating to a “sell” rating in a report on Wednesday, September 1st. Cantor Fitzgerald started coverage on RedHill Biopharma in a report on Tuesday, August 31st. They issued an “overweight” rating and a $22.00 target price on the stock. WBB Securities cut RedHill Biopharma from a “strong-buy” rating to a “buy” rating and reduced their target price for the stock from $17.00 to $16.00 in a report on Friday, May 28th. Finally, Roth Capital reaffirmed a “buy” rating on shares of RedHill Biopharma in a report on Tuesday, June 1st. One equities research analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. According to data from MarketBeat, RedHill Biopharma currently has a consensus rating of “Buy” and an average price target of $18.50.

NASDAQ RDHL traded up $0.03 on Tuesday, hitting $5.00. 18,342 shares of the company traded hands, compared to its average volume of 552,351. The company has a market capitalization of $233.34 million, a price-to-earnings ratio of -2.11 and a beta of 1.47. The company has a current ratio of 1.24, a quick ratio of 1.13 and a debt-to-equity ratio of 2.81. The business’s 50 day moving average price is $7.30 and its 200-day moving average price is $7.17. RedHill Biopharma has a 52-week low of $4.65 and a 52-week high of $11.52.

RedHill Biopharma (NASDAQ:RDHL) last released its earnings results on Wednesday, August 25th. The biotechnology company reported ($0.60) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.40) by ($0.20). RedHill Biopharma had a negative net margin of 112.40% and a negative return on equity of 303.29%. As a group, sell-side analysts predict that RedHill Biopharma will post -2.01 earnings per share for the current year.

Several large investors have recently made changes to their positions in the business. Bank of Montreal Can boosted its holdings in shares of RedHill Biopharma by 626.7% in the first quarter. Bank of Montreal Can now owns 4,549 shares of the biotechnology company’s stock valued at $30,000 after purchasing an additional 3,923 shares during the period. CIBC World Markets Inc. purchased a new stake in shares of RedHill Biopharma in the second quarter valued at approximately $76,000. Cubist Systematic Strategies LLC purchased a new stake in shares of RedHill Biopharma in the first quarter valued at approximately $98,000. Jump Financial LLC purchased a new stake in shares of RedHill Biopharma in the second quarter valued at approximately $101,000. Finally, HRT Financial LP purchased a new stake in shares of RedHill Biopharma in the first quarter valued at approximately $118,000. Institutional investors and hedge funds own 15.29% of the company’s stock.

About RedHill Biopharma

RedHill Biopharma Ltd., a specialty biopharmaceutical company, primarily focused on gastrointestinal and infectious diseases. The company promotes gastrointestinal drugs, including Movantik for opioid-induced constipation in adults with chronic non-cancer pain; Talicia for the treatment of Helicobacter pylori infection in adults; and Aemcolo for the treatment of travelers' diarrhea in adults.

Further Reading: What are popular green investing opportunities?

Analyst Recommendations for RedHill Biopharma (NASDAQ:RDHL)

Receive News & Ratings for RedHill Biopharma Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RedHill Biopharma and related companies with MarketBeat.com's FREE daily email newsletter.