Redhill Biopharma Ltd. (RDHL) Research Coverage Started at UBS AG

UBS AG assumed coverage on shares of Redhill Biopharma Ltd. (NASDAQ:RDHL) in a research report released on Wednesday morning, The Fly reports. The firm issued a reduce rating on the biotechnology company’s stock.

A number of other analysts have also issued reports on RDHL. HC Wainwright set a $33.00 price target on Redhill Biopharma and gave the company a buy rating in a report on Wednesday, July 26th. Roth Capital set a $27.00 price target on Redhill Biopharma and gave the company a buy rating in a report on Monday, July 31st. Zacks Investment Research lowered Redhill Biopharma from a hold rating to a sell rating in a report on Saturday, July 29th. Finally, FBR & Co reiterated a buy rating on shares of Redhill Biopharma in a report on Friday, June 16th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. Redhill Biopharma has a consensus rating of Hold and an average price target of $23.69.

Redhill Biopharma (NASDAQ RDHL) traded up 2.46% during midday trading on Wednesday, reaching $8.76. The company’s stock had a trading volume of 49,649 shares. The company’s 50-day moving average is $8.71 and its 200 day moving average is $9.38. Redhill Biopharma has a 12-month low of $8.16 and a 12-month high of $15.27. The firm’s market cap is $150.35 million.

Redhill Biopharma (NASDAQ:RDHL) last announced its quarterly earnings results 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 analysts’ expectations of $0.34 million. Equities analysts forecast that Redhill Biopharma will post ($2.36) earnings per share for the current year.

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A number of institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp lifted its holdings in Redhill Biopharma by 13.6% during the second quarter. Bank of New York Mellon Corp now owns 12,005 shares of the biotechnology company’s stock worth $103,000 after buying an additional 1,440 shares during the period. Oppenheimer & Co. Inc. lifted its holdings in Redhill Biopharma by 10.8% during the second quarter. Oppenheimer & Co. Inc. now owns 25,569 shares of the biotechnology company’s stock worth $220,000 after buying an additional 2,500 shares during the period. D.A. Davidson & CO. lifted its holdings in Redhill Biopharma by 10.0% during the second quarter. D.A. Davidson & CO. now owns 44,000 shares of the biotechnology company’s stock worth $379,000 after buying an additional 4,000 shares during the period. Penserra Capital Management LLC lifted its holdings in Redhill Biopharma by 75.0% during 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 period. Finally, Family Management Corp lifted its holdings in Redhill Biopharma by 51.5% during the second quarter. Family Management Corp now owns 25,750 shares of the biotechnology company’s stock worth $222,000 after buying an additional 8,750 shares during the period. Institutional investors own 10.99% of the company’s stock.

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.

The Fly

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