Zacks Investment Research Lowers REDHILL BIOPHAR/S (NASDAQ:RDHL) to Sell

Zacks Investment Research cut shares of REDHILL BIOPHAR/S (NASDAQ:RDHL) from a hold rating to a sell rating in a research note published on Wednesday morning, Zacks.com reports.

According to Zacks, “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. Its clinical-stage pipeline includes: TALICIA (RHB-105), an oral combination therapy for the treatment of Helicobacter pylori infection; RHB-104, an oral combination therapy for the treatment of Crohn’s disease; BEKINDA (RHB-102), a once-daily oral pill formulation of ondansetron; RHB-106; YELIVA (ABC294640); MESUPRON, and RIZAPORT (RHB-103). “

Other equities research analysts also recently issued research reports about the company. Ascendiant Capital Markets set a $23.00 price target on REDHILL BIOPHAR/S and gave the stock a buy rating in a report on Monday, July 8th. ValuEngine upgraded REDHILL BIOPHAR/S from a sell rating to a hold rating in a report on Monday, July 22nd. Finally, WBB Securities upgraded REDHILL BIOPHAR/S from a buy rating to a strong-buy rating and set a $17.00 price target on the stock in a report on Friday, July 12th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. REDHILL BIOPHAR/S currently has a consensus rating of Buy and an average target price of $17.85.

RDHL stock opened at $6.80 on Wednesday. The company has a current ratio of 2.84, a quick ratio of 2.71 and a debt-to-equity ratio of 0.10. REDHILL BIOPHAR/S has a 12-month low of $5.13 and a 12-month high of $9.57. The company has a fifty day moving average price of $7.05.

REDHILL BIOPHAR/S (NASDAQ:RDHL) last posted its quarterly earnings data on Tuesday, May 7th. The biotechnology company reported ($0.35) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.39) by $0.04. REDHILL BIOPHAR/S had a negative return on equity of 93.55% and a negative net margin of 561.47%. The firm had revenue of $1.74 million for the quarter, compared to the consensus estimate of $2.98 million. On average, research analysts expect that REDHILL BIOPHAR/S will post -1.45 EPS for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of RDHL. Ibex Investors LLC boosted its holdings in REDHILL BIOPHAR/S by 91.3% in the 2nd quarter. Ibex Investors LLC now owns 1,867,000 shares of the biotechnology company’s stock valued at $12,136,000 after purchasing an additional 891,072 shares during the period. Sanders Morris Harris LLC acquired a new stake in REDHILL BIOPHAR/S in the second quarter worth about $330,000. ARK Investment Management LLC boosted its holdings in REDHILL BIOPHAR/S by 8.5% in the first quarter. ARK Investment Management LLC now owns 65,918 shares of the biotechnology company’s stock worth $548,000 after acquiring an additional 5,177 shares in the last quarter. FMR LLC acquired a new stake in REDHILL BIOPHAR/S in the fourth quarter worth about $1,110,000. Finally, Millennium Management LLC boosted its holdings in REDHILL BIOPHAR/S by 69.9% in the fourth quarter. Millennium Management LLC now owns 301,693 shares of the biotechnology company’s stock worth $1,674,000 after acquiring an additional 124,072 shares in the last quarter. Institutional investors own 35.63% of the company’s stock.

REDHILL BIOPHAR/S Company Profile

RedHill Biopharma Ltd., a specialty biopharmaceutical company, focuses on the development and commercialization of late clinical-stage drugs for the treatment of gastrointestinal diseases in the United States. It operates through two segments, Commercial Operations and Research & Development. The company's clinical-stage development programs comprise TALICIA, a drug that is in Phase III clinical trial for the helicobacter pylori infection; RHB-104 that is in Phase III clinical trials for crohn's disease, as well as that has completed Phase II clinical trial for multiple sclerosis; RHB-204 for pulmonary nontuberculous mycobacteria infections; BEKINDA 24 mg that has completed Phase III clinical trial for acute gastroenteritis and gastritis; BEKINDA 12 mg that has completed Phase II clinical trial for irritable bowel syndrome with diarrhea; RHB-106 for bowel preparation; and RHB-107 that has completed Phase II clinical trial for gastrointestinal and other solid tumors.

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