$1.27 Million in Sales Expected for Redhill Biopharma Ltd. (NASDAQ:RDHL) This Quarter
Brokerages expect that Redhill Biopharma Ltd. (NASDAQ:RDHL) will post sales of $1.27 million for the current quarter, according to Zacks. Two analysts have made estimates for Redhill Biopharma’s earnings, with estimates ranging from $900,000.00 to $1.64 million. The business is expected to issue its next quarterly earnings results on Monday, November 13th.
On average, analysts expect that Redhill Biopharma will report full-year sales of $1.27 million for the current year, with estimates ranging from $2.78 million to $4.69 million. For the next financial year, analysts forecast that the business will post sales of $47.25 million per share, with estimates ranging from $11.01 million to $113.90 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Redhill Biopharma.
Redhill Biopharma (NASDAQ:RDHL) last released its quarterly earnings data on Tuesday, July 25th. The biotechnology company reported ($0.60) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.58) by $0.02. The company had revenue of $0.48 million during the quarter, compared to the consensus estimate of $0.34 million.
Several equities analysts recently weighed in on RDHL shares. Roth Capital set a $26.00 target price on Redhill Biopharma and gave the company a “buy” rating in a research report on Thursday, May 4th. HC Wainwright set a $33.00 target price on Redhill Biopharma and gave the company a “buy” rating in a research report on Thursday, May 4th. Zacks Investment Research upgraded Redhill Biopharma from a “hold” rating to a “buy” rating and set a $9.75 target price on the stock in a research report on Tuesday, July 4th. Finally, FBR & Co reiterated a “buy” rating on shares of Redhill Biopharma in a research report on Friday, June 16th.
A number of institutional investors have recently added to or reduced their stakes in RDHL. Renaissance Technologies LLC increased its position in Redhill Biopharma by 144.1% in the first quarter. Renaissance Technologies LLC now owns 62,000 shares of the biotechnology company’s stock valued at $595,000 after buying an additional 36,600 shares during the period. Jane Street Group LLC bought a new position in Redhill Biopharma during the first quarter valued at $276,000. Family Management Corp bought a new position in Redhill Biopharma during the first quarter valued at $163,000. Bank of New York Mellon Corp bought a new position in Redhill Biopharma during the first quarter valued at $101,000. Finally, 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 valued at $171,000 after buying an additional 7,647 shares during the period. Institutional investors own 12.31% of the company’s stock.
Shares of Redhill Biopharma (NASDAQ:RDHL) opened at 9.03 on Friday. The company’s market capitalization is $154.98 million. Redhill Biopharma has a 1-year low of $8.16 and a 1-year high of $16.54. The company’s 50 day moving average price is $9.06 and its 200-day moving average price is $9.64.
About Redhill Biopharma
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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