REDHILL BIOPHAR/S (NASDAQ:RDHL) rose 11.4% on Friday . The stock traded as high as $7.68 and last traded at $7.40, approximately 374,495 shares changed hands during mid-day trading. An increase of 396% from the average daily volume of 75,521 shares. The stock had previously closed at $6.64.
RDHL has been the topic of several recent research reports. Ascendiant Capital Markets set a $23.00 price target on REDHILL BIOPHAR/S and gave the stock a “buy” rating in a research report on Monday, July 8th. WBB Securities upgraded REDHILL BIOPHAR/S from a “buy” rating to a “strong-buy” rating and set a $17.00 price objective on the stock in a report on Friday. ValuEngine downgraded Zumiez from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Finally, Zacks Investment Research downgraded Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Saturday, May 11th. One equities research analyst has rated the stock with a sell rating, four have given a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $17.75.
The company has a debt-to-equity ratio of 0.06, a current ratio of 4.09 and a quick ratio of 3.99. The stock’s 50-day simple moving average is $7.05.
REDHILL BIOPHAR/S (NASDAQ:RDHL) last released its quarterly earnings results on Tuesday, May 7th. The biotechnology company reported ($0.35) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.39) by $0.04. REDHILL BIOPHAR/S had a negative return on equity of 97.62% and a negative net margin of 506.47%. The company had revenue of $1.74 million during the quarter, compared to the consensus estimate of $2.98 million. As a group, equities research analysts anticipate that REDHILL BIOPHAR/S will post -1.3 EPS for the current fiscal year.
Institutional investors and hedge funds have recently modified their holdings of the company. Van ECK Associates Corp grew its holdings in shares of REDHILL BIOPHAR/S by 42.1% during the fourth quarter. Van ECK Associates Corp now owns 10,787 shares of the biotechnology company’s stock worth $60,000 after buying an additional 3,195 shares in the last quarter. Geode Capital Management LLC acquired a new stake in shares of REDHILL BIOPHAR/S during the fourth quarter worth about $73,000. Menta Capital LLC lifted its position in shares of REDHILL BIOPHAR/S by 9.4% during the fourth quarter. Menta Capital LLC now owns 93,872 shares of the biotechnology company’s stock worth $521,000 after purchasing an additional 8,087 shares in the last quarter. D. E. Shaw & Co. Inc. acquired a new stake in shares of REDHILL BIOPHAR/S during the fourth quarter worth about $186,000. Finally, Millennium Management LLC lifted its position in shares of REDHILL BIOPHAR/S by 69.9% during the fourth quarter. Millennium Management LLC now owns 301,693 shares of the biotechnology company’s stock worth $1,674,000 after purchasing an additional 124,072 shares in the last quarter. 35.48% of the stock is owned by institutional investors and hedge funds.
About REDHILL BIOPHAR/S (NASDAQ:RDHL)
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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