Brokerages forecast that REDHILL BIOPHAR/S (NASDAQ:RDHL) will announce earnings of ($0.40) per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for REDHILL BIOPHAR/S’s earnings. The highest EPS estimate is ($0.39) and the lowest is ($0.40). REDHILL BIOPHAR/S reported earnings per share of ($0.90) during the same quarter last year, which would suggest a positive year-over-year growth rate of 55.6%. The company is expected to issue its next quarterly earnings report before the market opens on Tuesday, November 13th.
According to Zacks, analysts expect that REDHILL BIOPHAR/S will report full-year earnings of ($1.69) per share for the current year, with EPS estimates ranging from ($1.70) to ($1.67). For the next year, analysts anticipate that the business will report earnings of ($1.34) per share, with EPS estimates ranging from ($1.80) to ($1.00). Zacks’ earnings per share averages are an average based on a survey of research analysts that cover REDHILL BIOPHAR/S.
REDHILL BIOPHAR/S (NASDAQ:RDHL) last issued its quarterly earnings results on Thursday, August 30th. The biotechnology company reported ($0.52) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.47) by ($0.05). The firm had revenue of $2.35 million for the quarter, compared to the consensus estimate of $2.77 million. REDHILL BIOPHAR/S had a negative net margin of 564.71% and a negative return on equity of 133.07%.
A number of research firms have recently issued reports on RDHL. Zacks Investment Research raised shares of REDHILL BIOPHAR/S from a “hold” rating to a “strong-buy” rating and set a $9.25 price objective on the stock in a research report on Wednesday. HC Wainwright set a $36.00 price objective on shares of REDHILL BIOPHAR/S and gave the stock a “buy” rating in a research report on Tuesday, October 23rd. Finally, ValuEngine cut shares of REDHILL BIOPHAR/S from a “hold” rating to a “sell” rating in a research report on Thursday, October 11th. One analyst has rated the stock with a sell rating, four have given a buy rating and one has issued a strong buy rating to the stock. REDHILL BIOPHAR/S presently has a consensus rating of “Buy” and a consensus target price of $20.65.
Several hedge funds have recently added to or reduced their stakes in RDHL. 683 Capital Management LLC boosted its position in shares of REDHILL BIOPHAR/S by 22.8% during the 2nd quarter. 683 Capital Management LLC now owns 2,042,654 shares of the biotechnology company’s stock worth $17,424,000 after purchasing an additional 378,751 shares in the last quarter. Clear Harbor Asset Management LLC bought a new position in shares of REDHILL BIOPHAR/S during the 3rd quarter worth about $323,000. JPMorgan Chase & Co. boosted its position in shares of REDHILL BIOPHAR/S by 61.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 73,878 shares of the biotechnology company’s stock worth $652,000 after purchasing an additional 28,102 shares in the last quarter. Creative Planning boosted its position in shares of REDHILL BIOPHAR/S by 16.1% during the 3rd quarter. Creative Planning now owns 162,950 shares of the biotechnology company’s stock worth $1,439,000 after purchasing an additional 22,561 shares in the last quarter. Finally, ARK Investment Management LLC raised its holdings in shares of REDHILL BIOPHAR/S by 8.6% in the 2nd quarter. ARK Investment Management LLC now owns 112,648 shares of the biotechnology company’s stock worth $961,000 after acquiring an additional 8,894 shares during the last quarter. 22.80% of the stock is currently owned by institutional investors.
RDHL traded down $0.38 during trading on Friday, reaching $8.56. 81,337 shares of the stock traded hands, compared to its average volume of 72,157. The stock has a market capitalization of $176.57 million, a P/E ratio of -3.29 and a beta of 0.84. REDHILL BIOPHAR/S has a 12 month low of $4.30 and a 12 month high of $11.49.
About REDHILL BIOPHAR/S
RedHill Biopharma Ltd., a specialty biopharmaceutical company, focuses on the development and commercialization of late clinical-stage drugs for the treatment of gastrointestinal diseases. It commercializes and promotes gastrointestinal products in the United States. The company's pipeline includes various drug candidates that are in advanced clinical development stages, including three Phase III-stage programs.
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