$340,000.00 in Sales Expected for Redhill Biopharma Ltd. (RDHL) This Quarter
Analysts expect Redhill Biopharma Ltd. (NASDAQ:RDHL) to announce $340,000.00 in sales for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Redhill Biopharma’s earnings. The lowest sales estimate is $170,000.00 and the highest is $500,000.00. The firm is scheduled to issue its next quarterly earnings results on Tuesday, July 25th.
On average, analysts expect that Redhill Biopharma will report full-year sales of $340,000.00 for the current financial year, with estimates ranging from $1.12 million to $3.75 million. For the next fiscal year, analysts anticipate that the business will report sales of $45.54 million per share, with estimates ranging from $11.01 million to $113.90 million. Zacks’ sales averages are an average based on a survey of research firms that cover Redhill Biopharma.
Redhill Biopharma (NASDAQ:RDHL) last posted its earnings results on Wednesday, May 3rd. The biotechnology company reported ($0.50) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.64) by $0.14.
A number of brokerages have recently issued reports on RDHL. FBR & Co restated a “buy” rating on shares of Redhill Biopharma in a research report on Wednesday, April 5th. HC Wainwright set a $33.00 price target on shares of Redhill Biopharma and gave the stock a “buy” rating in a research report on Thursday, May 4th. Roth Capital set a $26.00 price target on shares of Redhill Biopharma and gave the stock a “buy” rating in a research report on Thursday, May 4th. Finally, Zacks Investment Research upgraded shares of Redhill Biopharma from a “hold” rating to a “buy” rating and set a $9.75 price target on the stock in a research report on Tuesday, July 4th.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in RDHL. Oppenheimer & Co. Inc. increased its position in Redhill Biopharma by 36.5% in the first quarter. Oppenheimer & Co. Inc. now owns 23,069 shares of the biotechnology company’s stock worth $221,000 after buying an additional 6,172 shares during the last quarter. Penserra Capital Management LLC increased 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 worth $171,000 after buying an additional 7,647 shares during the last quarter. Bank of New York Mellon Corp bought a new position in Redhill Biopharma during the first quarter worth about $101,000. Family Management Corp bought a new position in Redhill Biopharma during the first quarter worth about $163,000. Finally, Renaissance Technologies LLC bought a new position in Redhill Biopharma during the fourth quarter worth about $266,000. Institutional investors own 12.31% of the company’s stock.
Redhill Biopharma (NASDAQ RDHL) traded up 1.99% during mid-day trading on Friday, reaching $8.70. 21,087 shares of the company were exchanged. The stock’s market capitalization is $147.96 million. The company’s 50 day moving average price is $9.43 and its 200-day moving average price is $9.89. Redhill Biopharma has a 12-month low of $8.20 and a 12-month high of $16.54.
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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