Ascendiant Capital Markets set a $23.00 price objective on REDHILL BIOPHAR/S (NASDAQ:RDHL) in a report published on Monday, Stock Target Advisor reports. The brokerage currently has a buy rating on the biotechnology company’s stock.

Several other brokerages have also issued reports on RDHL. Zacks Investment Research lowered Zynerba Pharmaceuticals from a buy rating to a hold rating in a research report on Saturday, May 11th. ValuEngine lowered Zumiez from a hold rating to a sell rating in a research report on Tuesday, July 2nd. Finally, WBB Securities raised REDHILL BIOPHAR/S from a speculative buy rating to a buy rating and set a $17.00 target price for the company in a research report on Tuesday, March 12th. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. REDHILL BIOPHAR/S currently has a consensus rating of Buy and an average price target of $17.75.

RDHL opened at $6.64 on Monday. The firm’s 50 day simple moving average is $7.05. The company has a market cap of $147.99 million, a price-to-earnings ratio of -3.91 and a beta of 1.40. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.09 and a quick ratio of 3.99. REDHILL BIOPHAR/S has a one year low of $5.13 and a one year high of $11.49.

REDHILL BIOPHAR/S (NASDAQ:RDHL) last released its quarterly earnings results on Tuesday, May 7th. The biotechnology company reported ($0.35) EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $1.74 million during the quarter, compared to analyst estimates of $2.98 million. On average, analysts anticipate that REDHILL BIOPHAR/S will post -1.3 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of RDHL. Sanders Morris Harris LLC acquired a new stake in shares of REDHILL BIOPHAR/S during the second quarter worth $330,000. ARK Investment Management LLC lifted its holdings in shares of REDHILL BIOPHAR/S by 8.5% during the first quarter. ARK Investment Management LLC now owns 65,918 shares of the biotechnology company’s stock worth $548,000 after buying an additional 5,177 shares in the last quarter. Ibex Investors LLC lifted its holdings in shares of REDHILL BIOPHAR/S by 3.9% during the first quarter. Ibex Investors LLC now owns 975,928 shares of the biotechnology company’s stock worth $8,110,000 after buying an additional 36,914 shares in the last quarter. FMR LLC acquired a new stake in shares of REDHILL BIOPHAR/S during the fourth quarter worth $1,110,000. Finally, 683 Capital Management LLC lifted its holdings in shares of REDHILL BIOPHAR/S by 1.7% during the fourth quarter. 683 Capital Management LLC now owns 3,693,840 shares of the biotechnology company’s stock worth $20,501,000 after buying an additional 62,821 shares in the last quarter. Institutional investors and hedge funds own 35.48% 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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