Redhill Biopharma Ltd. (NASDAQ:RDHL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday.

According to Zacks, “RedHill Biopharma focuses on the development and commercialization of late clinical-stage, proprietary, orally-administered, small molecule drugs for gastrointestinal and inflammatory diseases, including cancer. RedHill’s proprietary pipeline includes: RHB-105 – a combination therapy for H.pylori infection; RHB-104 – a combination therapy for Crohn’s disease and multiple sclerosis; BEKINDA – a once-daily oral formulation of ondansetron for acute gastroenteritis and IBS-D; RHB-106 – an encapsulated formulation for bowel preparation licensed to Salix Pharmaceuticals; YELIVA – an orally-administered first-in-class SK2 selective inhibitor targeting oncology, inflammatory and gastrointestinal indications; MESUPRON – a uPA inhibitor targeting gastrointestinal and other solid tumors; RP101 – currently subject to an option-to-acquire, Hsp27 inhibitor targeting gastrointestinal cancers; RIZAPORT – an oral thin film formulation of rizatriptan for acute migraines. “

RDHL has been the subject of several other research reports. FBR & Co reaffirmed a “buy” rating on shares of Redhill Biopharma in a research report on Wednesday, April 5th. Roth Capital set a $26.00 price target on Redhill Biopharma and gave the stock a “buy” rating in a research report on Thursday, May 4th. Finally, HC Wainwright set a $33.00 price target on Redhill Biopharma and gave the stock a “buy” rating in a research report on Thursday, May 4th.

Redhill Biopharma (NASDAQ:RDHL) traded up 0.84% on Wednesday, hitting $8.36. 31,018 shares of the company were exchanged. The company’s market capitalization is $142.18 million. The stock has a 50 day moving average of $9.43 and a 200 day moving average of $9.89. Redhill Biopharma has a 52 week low of $8.20 and a 52 week high of $16.54.

Redhill Biopharma (NASDAQ:RDHL) last posted its quarterly earnings results on Wednesday, May 3rd. The biotechnology company reported ($0.50) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.64) by $0.14. Analysts predict that Redhill Biopharma will post ($2.19) EPS for the current fiscal year.

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Several institutional investors have recently bought and sold shares of the company. Migdal Insurance & Financial Holdings Ltd. bought a new position in Redhill Biopharma during the fourth quarter valued at about $4,087,000. Renaissance Technologies LLC bought a new position in Redhill Biopharma during the fourth quarter valued at about $266,000. Family Management Corp bought a new position in Redhill Biopharma during the first quarter valued at about $163,000. Penserra Capital Management LLC raised its position in Redhill Biopharma by 75.0% in the first quarter. Penserra Capital Management LLC now owns 17,843 shares of the biotechnology company’s stock valued at $171,000 after buying an additional 7,647 shares in the last quarter. Finally, Jane Street Group LLC bought a new position in Redhill Biopharma during the first quarter valued at about $276,000. 12.31% of the stock is owned by hedge funds and other institutional investors.

About Redhill Biopharma

RedHill Biopharma Ltd. is a biopharmaceutical company. The Company is focused on the development and commercialization of clinical-stage, orally-administered, small molecule drugs for the treatment of gastrointestinal (GI) and inflammatory diseases and cancer. Its seven clinical-stage therapeutic candidates include RHB-105, RHB-104, BEKINDA, RHB-106, YELIVA, MESUPRON and RIZAPORT and related research and development programs.

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