RedHill Biopharma (NASDAQ:RDHL) Price Target Cut to $16.00

RedHill Biopharma (NASDAQ:RDHL) had its price target cut by investment analysts at BTIG Research from $24.00 to $16.00 in a report released on Wednesday, The Fly reports. The firm presently has a “buy” rating on the biotechnology company’s stock. BTIG Research’s price objective would indicate a potential upside of 221.93% from the company’s previous close.

Several other equities research analysts have also commented on the stock. HC Wainwright reissued a “buy” rating and issued a $23.00 price target on shares of RedHill Biopharma in a report on Tuesday. WBB Securities cut shares of RedHill Biopharma from a “strong-buy” rating to a “buy” rating and cut their target price for the stock from $17.00 to $16.00 in a research note on Friday, May 28th. Zacks Investment Research lowered shares of RedHill Biopharma from a “hold” rating to a “sell” rating in a research note on Wednesday, September 1st. Cantor Fitzgerald began coverage on RedHill Biopharma in a research note on Tuesday, August 31st. They set an “overweight” rating and a $22.00 price objective for the company. Finally, Roth Capital reissued a “buy” rating on shares of RedHill Biopharma in a report on Tuesday, June 1st. One analyst has rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, RedHill Biopharma currently has a consensus rating of “Buy” and an average target price of $18.50.

RDHL opened at $4.97 on Wednesday. The company has a fifty day moving average of $7.30 and a two-hundred day moving average of $7.17. The company has a debt-to-equity ratio of 2.81, a quick ratio of 1.13 and a current ratio of 1.24. RedHill Biopharma has a fifty-two week low of $4.65 and a fifty-two week high of $11.52. The stock has a market capitalization of $231.93 million, a price-to-earnings ratio of -2.11 and a beta of 1.47.

RedHill Biopharma (NASDAQ:RDHL) last issued its quarterly earnings results on Wednesday, August 25th. The biotechnology company reported ($0.60) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.20). RedHill Biopharma had a negative return on equity of 303.29% and a negative net margin of 112.40%. On average, equities research analysts forecast that RedHill Biopharma will post -2.01 earnings per share for the current year.

Institutional investors and hedge funds have recently modified their holdings of the business. Bank of Montreal Can boosted its position in shares of RedHill Biopharma by 626.7% during the 1st quarter. Bank of Montreal Can now owns 4,549 shares of the biotechnology company’s stock valued at $30,000 after acquiring an additional 3,923 shares during the last quarter. CIBC World Markets Inc. purchased a new position in RedHill Biopharma during the second quarter worth about $76,000. Cubist Systematic Strategies LLC acquired a new position in RedHill Biopharma in the 1st quarter valued at about $98,000. Jump Financial LLC purchased a new stake in shares of RedHill Biopharma in the 2nd quarter valued at approximately $101,000. Finally, HRT Financial LP purchased a new stake in shares of RedHill Biopharma during the 1st quarter valued at approximately $118,000. 15.29% of the stock is owned by institutional investors and hedge funds.

RedHill Biopharma Company Profile

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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