RedHill Biopharma (NASDAQ:RDHL) Shares Gap Down to $8.71


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RedHill Biopharma Ltd. (NASDAQ:RDHL)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $8.71, but opened at $7.95. RedHill Biopharma shares last traded at $7.10, with a volume of 83,878 shares changing hands.

Several research firms have recently issued reports on RDHL. ValuEngine cut shares of RedHill Biopharma from a “buy” rating to a “hold” rating in a research report on Thursday, December 17th. Zacks Investment Research cut shares of RedHill Biopharma from a “hold” rating to a “sell” rating in a research report on Wednesday. Roth Capital reduced their price target on shares of RedHill Biopharma from $16.00 to $12.00 and set a “buy” rating on the stock in a research report on Thursday, November 12th. Ascendiant Capital Markets restated a “buy” rating and issued a $22.00 price target on shares of RedHill Biopharma in a research report on Tuesday, October 13th. Finally, BidaskClub cut shares of RedHill Biopharma from a “buy” rating to a “hold” rating in a research report on Friday, October 9th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. RedHill Biopharma has a consensus rating of “Hold” and a consensus price target of $15.75.

The company has a debt-to-equity ratio of 2.29, a current ratio of 1.70 and a quick ratio of 1.57. The stock has a market cap of $282.44 million, a price-to-earnings ratio of -4.90 and a beta of 1.61. The company’s fifty day moving average price is $8.64 and its 200-day moving average price is $8.54.

RedHill Biopharma (NASDAQ:RDHL) last issued its earnings results on Tuesday, November 17th. The biotechnology company reported ($0.50) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.22) by ($0.28). The firm had revenue of $20.94 million during the quarter, compared to analysts’ expectations of $23.57 million. RedHill Biopharma had a negative net margin of 219.39% and a negative return on equity of 135.90%. On average, sell-side analysts forecast that RedHill Biopharma Ltd. will post -0.77 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Ibex Investors LLC boosted its position in RedHill Biopharma by 0.3% in the third quarter. Ibex Investors LLC now owns 1,875,601 shares of the biotechnology company’s stock valued at $19,169,000 after buying an additional 5,601 shares during the last quarter. Creative Planning boosted its position in RedHill Biopharma by 2.4% in the 3rd quarter. Creative Planning now owns 800,097 shares of the biotechnology company’s stock worth $8,177,000 after purchasing an additional 18,535 shares in the last quarter. Gagnon Securities LLC boosted its position in RedHill Biopharma by 13.3% in the 3rd quarter. Gagnon Securities LLC now owns 237,991 shares of the biotechnology company’s stock worth $2,432,000 after purchasing an additional 28,013 shares in the last quarter. Schonfeld Strategic Advisors LLC boosted its position in RedHill Biopharma by 55.2% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 155,400 shares of the biotechnology company’s stock worth $1,588,000 after purchasing an additional 55,300 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its position in RedHill Biopharma by 9,884.7% in the 3rd quarter. Wells Fargo & Company MN now owns 137,290 shares of the biotechnology company’s stock worth $1,403,000 after purchasing an additional 135,915 shares in the last quarter. Hedge funds and other institutional investors own 19.71% of the company’s stock.

About RedHill Biopharma (NASDAQ:RDHL)

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 non-cancer pain; Talicia for the treatment of Helicobacter pylori infection in adults; and Aemcolo for the treatment of travelers' diarrhea in adults.

See Also: Gross Domestic Product (GDP)

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