Zacks Investment Research upgraded shares of Redhill Biopharma Ltd. (NASDAQ:RDHL) from a sell rating to a hold rating in a report issued on Tuesday.

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). “

A number of other analysts have also recently commented on the company. Roth Capital set a $26.00 price target on Redhill Biopharma and gave the stock a buy rating in a research report on Thursday, May 4th. HC Wainwright set a $33.00 price objective on Redhill Biopharma and gave the company a buy rating in a research report on Thursday, May 4th. Finally, FBR & Co reaffirmed a buy rating on shares of Redhill Biopharma in a research report on Friday, June 16th.

Shares of Redhill Biopharma (NASDAQ RDHL) opened at 8.62 on Tuesday. Redhill Biopharma has a 12 month low of $8.16 and a 12 month high of $15.52. The company’s 50 day moving average price is $9.01 and its 200-day moving average price is $9.46. The stock’s market capitalization is $147.95 million.

Redhill Biopharma (NASDAQ:RDHL) last issued its quarterly earnings results on Tuesday, July 25th. The biotechnology company reported ($0.60) EPS for the quarter, missing analysts’ consensus estimates of ($0.58) by $0.02. The firm had revenue of $0.48 million during the quarter, compared to analysts’ expectations of $0.34 million. Equities analysts predict that Redhill Biopharma will post ($2.36) earnings per share for the current year.

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A number of institutional investors have recently added to or reduced their stakes in RDHL. Renaissance Technologies LLC acquired a new position in Redhill Biopharma during the fourth quarter valued at about $266,000. Bank of New York Mellon Corp acquired a new position in Redhill Biopharma during the first quarter valued at about $101,000. Penserra Capital Management LLC boosted 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 valued at $171,000 after buying an additional 7,647 shares during the period. Oppenheimer & Co. Inc. boosted 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 valued at $221,000 after buying an additional 6,172 shares during the period. Finally, Jane Street Group LLC acquired a new position in Redhill Biopharma during the first quarter valued at about $276,000. 10.99% of the stock is currently 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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