Brokerages predict that RedHill Biopharma Ltd – (NASDAQ:RDHL) will post $1.89 million in sales for the current quarter, according to Zacks. Three analysts have provided estimates for RedHill Biopharma’s earnings. The lowest sales estimate is $1.80 million and the highest is $1.98 million. RedHill Biopharma reported sales of $100,000.00 during the same quarter last year, which would suggest a positive year over year growth rate of 1,790%. The business is expected to issue its next earnings report before the market opens on Thursday, February 22nd.
On average, analysts expect that RedHill Biopharma will report full year sales of $1.89 million for the current year, with estimates ranging from $3.81 million to $3.98 million. For the next fiscal year, analysts anticipate that the company will post sales of $45.40 million per share, with estimates ranging from $8.80 million to $113.90 million. Zacks’ sales averages are a mean average based on a survey of research analysts that follow RedHill Biopharma.
Several research firms have issued reports on RDHL. Nomura began coverage on shares of RedHill Biopharma in a research report on Friday, January 26th. They set a “buy” rating and a $18.00 price target on the stock. Zacks Investment Research lowered shares of RedHill Biopharma from a “buy” rating to a “hold” rating in a research report on Friday, November 24th. HC Wainwright reaffirmed a “buy” rating and set a $36.00 price target on shares of RedHill Biopharma in a research report on Tuesday, November 21st. Finally, Roth Capital dropped their price target on shares of RedHill Biopharma from $27.00 to $20.00 and set a “buy” rating on the stock in a research report on Tuesday, November 14th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $20.58.
Large investors have recently added to or reduced their stakes in the business. Creative Planning acquired a new position in shares of RedHill Biopharma in the fourth quarter valued at $722,000. Bank of New York Mellon Corp increased its holdings in shares of RedHill Biopharma by 13.6% in the second quarter. Bank of New York Mellon Corp now owns 12,005 shares of the biotechnology company’s stock valued at $103,000 after purchasing an additional 1,440 shares during the last quarter. Family Management Corp increased its holdings in shares of RedHill Biopharma by 46.6% in the third quarter. Family Management Corp now owns 37,750 shares of the biotechnology company’s stock valued at $408,000 after purchasing an additional 12,000 shares during the last quarter. Meitav Dash Investments Ltd. acquired a new position in shares of RedHill Biopharma in the fourth quarter valued at $244,000. Finally, 683 Capital Management LLC acquired a new position in shares of RedHill Biopharma in the fourth quarter valued at $5,136,000. Hedge funds and other institutional investors own 8.82% of the company’s stock.
Shares of RedHill Biopharma (NASDAQ RDHL) opened at $6.12 on Tuesday. RedHill Biopharma has a 1 year low of $4.30 and a 1 year high of $11.25. The stock has a market cap of $130.19, a price-to-earnings ratio of -2.27 and a beta of 0.59.
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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.
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