Zacks Investment Research downgraded shares of Redhill Biopharma Ltd. (NASDAQ:RDHL) from a hold rating to a sell rating in a report released on Saturday.

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). “

RDHL has been the subject of several other reports. FBR & Co restated a buy rating on shares of Redhill Biopharma in a report on Wednesday, April 5th. Roth Capital set a $26.00 target price on Redhill Biopharma and gave the company a buy rating in a report on Thursday, May 4th. Finally, HC Wainwright set a $33.00 target price on Redhill Biopharma and gave the company a buy rating in a report on Thursday, May 4th.

Redhill Biopharma (NASDAQ:RDHL) opened at 9.30 on Friday. Redhill Biopharma has a 12 month low of $8.16 and a 12 month high of $16.54. The stock’s 50 day moving average price is $9.06 and its 200-day moving average price is $9.64. The company’s market capitalization is $159.62 million.

Redhill Biopharma (NASDAQ:RDHL) last issued its earnings results on Tuesday, July 25th. The biotechnology company reported ($0.60) earnings per share for the quarter, missing the consensus estimate of ($0.58) by $0.02. The company had revenue of $0.48 million during the quarter, compared to the consensus estimate of $0.34 million. On average, equities research analysts predict that Redhill Biopharma will post ($2.34) EPS for the current fiscal year.

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Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC acquired a new position in Redhill Biopharma during the fourth quarter worth approximately $266,000. Family Management Corp acquired a new position in Redhill Biopharma during the first quarter worth approximately $163,000. Oppenheimer & Co. Inc. raised its position in Redhill Biopharma by 36.5% in the first quarter. Oppenheimer & Co. Inc. now owns 23,069 shares of the biotechnology company’s stock worth $221,000 after buying an additional 6,172 shares during the last quarter. Penserra Capital Management LLC raised its position in Redhill Biopharma by 75.0% in the first quarter. Penserra Capital Management LLC now owns 17,843 shares of the biotechnology company’s stock worth $171,000 after buying an additional 7,647 shares during the last quarter. Finally, Jane Street Group LLC acquired a new position in Redhill Biopharma during the first quarter worth approximately $276,000. 12.31% of the stock is owned by institutional investors and hedge funds.

About Redhill Biopharma

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.

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