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.
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.
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