RedHill Biopharma (NASDAQ:RDHL) Receives New Coverage from Analysts at StockNews.com

StockNews.com began coverage on shares of RedHill Biopharma (NASDAQ:RDHL) in a report issued on Thursday morning. The brokerage issued a hold rating on the biotechnology company’s stock.

RedHill Biopharma Stock Down 2.7 %

RDHL opened at $0.39 on Thursday. The business’s 50 day moving average is $0.45 and its 200-day moving average is $0.73. RedHill Biopharma has a twelve month low of $0.26 and a twelve month high of $3.28.

Institutional Investors Weigh In On RedHill Biopharma

A number of institutional investors have recently modified their holdings of RDHL. Gagnon Securities LLC increased its holdings in shares of RedHill Biopharma by 32.1% during the 1st quarter. Gagnon Securities LLC now owns 118,360 shares of the biotechnology company’s stock worth $63,000 after purchasing an additional 28,771 shares during the period. Sabby Management LLC bought a new position in shares of RedHill Biopharma during the 3rd quarter worth about $324,000. Finally, Armistice Capital LLC bought a new position in shares of RedHill Biopharma during the 3rd quarter worth about $369,000. Institutional investors and hedge funds own 7.20% of the company’s stock.

RedHill Biopharma Company Profile

RedHill Biopharma Ltd., a specialty biopharmaceutical company, primarily focuses on gastrointestinal and infectious diseases. The company develops and commercializes Talicia for the treatment of H. pylori infection in adults; and Aemcolo for the treatment of travelers' diarrhea in adults. Its pipeline consists of five therapeutic candidates, which are in clinical development include opaganib for treating patients hospitalized with SARS-CoV-2 severe COVID-19 pneumonia, advanced unresectable cholangiocarcinoma, prostate cancer, and nuclear radiation protection; RHB-107 (upamostat) for treating outpatients infected with SARS-CoV-2 (COVID-19 disease) and advanced unresectable cholangiocarcinoma; RHB-104 for Crohn's disease; RHB-102 (Bekinda) for the treatment of acute gastroenteritis and gastritis, irritable bowel syndrome with diarrhea, and oncology support anti-emetic; and RHB-204 for pulmonary nontuberculous mycobacteria infections caused by mycobacterium avium complex.