Separately, Zacks Investment Research lowered shares of RedHill Biopharma from a hold rating to a sell rating in a report on Friday, July 29th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. RedHill Biopharma presently has a consensus rating of Buy and an average price target of $26.20.
Shares of RedHill Biopharma (NASDAQ:RDHL) traded down 1.89% during midday trading on Thursday, reaching $13.53. 27,935 shares of the company traded hands. RedHill Biopharma has a 12-month low of $8.10 and a 12-month high of $16.54. The company has a 50-day moving average of $14.75 and a 200 day moving average of $12.75. The firm’s market capitalization is $172.29 million.
RedHill Biopharma (NASDAQ:RDHL) last released its earnings results on Wednesday, July 27th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.58) by $0.52. On average, equities analysts forecast that RedHill Biopharma will post ($2.06) earnings per share for the current year.
Institutional investors have recently made changes to their positions in the stock. Van ECK Associates Corp raised its position in shares of RedHill Biopharma by 1.5% in the second quarter. Van ECK Associates Corp now owns 9,623 shares of the company’s stock valued at $105,000 after buying an additional 138 shares in the last quarter. Oppenheimer & Co. Inc. bought a new position in shares of RedHill Biopharma during the second quarter valued at $142,000. Royal Bank of Canada raised its position in shares of RedHill Biopharma by 0.9% in the first quarter. Royal Bank of Canada now owns 21,167 shares of the company’s stock valued at $259,000 after buying an additional 191 shares in the last quarter. Finally, Ingalls & Snyder LLC bought a new position in shares of RedHill Biopharma during the second quarter valued at $451,000. Hedge funds and other institutional investors own 15.30% of the company’s stock.
About RedHill Biopharma
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