RedHill Biopharma (NASDAQ:RDHL) Downgraded by StockNews.com

Posted by on Jun 23rd, 2023

RedHill Biopharma (NASDAQ:RDHL – Get Rating) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Friday.

RedHill Biopharma Price Performance

Shares of NASDAQ:RDHL opened at $1.71 on Friday. The company’s fifty day moving average price is $2.25 and its 200-day moving average price is $5.42. RedHill Biopharma has a one year low of $1.71 and a one year high of $49.20.

RedHill Biopharma (NASDAQ:RDHL – Get Rating) last issued its quarterly earnings results on Monday, June 12th. The biotechnology company reported $5.87 EPS for the quarter. The company had revenue of $3.60 million during the quarter. Equities research analysts predict that RedHill Biopharma will post -0.8 EPS for the current fiscal year.

Hedge Funds Weigh In On RedHill Biopharma

Institutional investors and hedge funds have recently made changes to their positions in the business. Virtu Financial LLC bought a new position in shares of RedHill Biopharma during the 1st quarter valued at $68,000. CLARET ASSET MANAGEMENT Corp boosted its position in RedHill Biopharma by 139.4% during the 4th quarter. CLARET ASSET MANAGEMENT Corp now owns 228,430 shares of the biotechnology company’s stock valued at $32,000 after buying an additional 133,000 shares during the period. Armistice Capital LLC purchased a new stake in RedHill Biopharma during the 1st quarter valued at $1,063,000. Renaissance Technologies LLC purchased a new stake in RedHill Biopharma during the 4th quarter valued at $49,000. Finally, BlackRock Inc. boosted its position in RedHill Biopharma by 18.6% during the 1st quarter. BlackRock Inc. now owns 357,493 shares of the biotechnology company’s stock valued at $901,000 after buying an additional 56,178 shares during the period. Institutional investors own 7.35% of the company’s stock.

RedHill Biopharma Company Profile

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RedHill Biopharma Ltd., a specialty biopharmaceutical company, primarily focuses on gastrointestinal and infectious diseases. The company promotes gastrointestinal drugs, including Movantik for opioid-induced constipation in adults with chronic non-cancer pain; Talicia for the treatment of Helicobacter pylori infection in adults; and Aemcolo for the treatment of travelers' diarrhea in adults.

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