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.
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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