Zacks Investment Research downgraded shares of REDHILL BIOPHAR/S (NASDAQ:RDHL) from a hold rating to a strong sell rating in a research report sent to investors on Wednesday morning, Zacks.com reports.
According to Zacks, “RedHill Biopharma Ltd. is a specialty biopharmaceutical company, primarily focused on the commercialization and development of proprietary drugs for the treatment of gastrointestinal diseases. RedHill promotes the gastrointestinal drug Aemcolo(TM) in the U.S. and is planning to launch Talicia(TM) in the U.S. for the treatment of Helicobacter pylori (H. pylori) infection in adults. RedHill’s key clinical late-stage development programs include: RHB-104, with positive results from a first Phase 3 study for Crohn’s disease; RHB-204, with a planned pivotal Phase 3 study for pulmonary nontuberculous mycobacteria (NTM) infections; RHB-102 (Bekinda(TM)), for acute gastroenteritis and gastritis and positive results from a Phase 2 study for IBS-D; ABC294640 (Yeliva(TM)), a first-in-class SK2 selective inhibitor, targeting multiple oncology, inflammatory and gastrointestinal indications, with an ongoing Phase 2a study for cholangiocarcinoma; RHB-106, an encapsulated bowel preparation, and RHB-107. “
Separately, BidaskClub upgraded shares of REDHILL BIOPHAR/S from a sell rating to a hold rating in a research report on Saturday, June 27th.
REDHILL BIOPHAR/S (NASDAQ:RDHL) last announced its quarterly earnings results on Wednesday, May 27th. The biotechnology company reported ($0.50) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.12). The firm had revenue of $1.06 million during the quarter, compared to analyst estimates of $3.79 million. REDHILL BIOPHAR/S had a negative net margin of 883.97% and a negative return on equity of 125.23%. Research analysts forecast that REDHILL BIOPHAR/S will post -0.68 EPS for the current year.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. D.A. Davidson & CO. bought a new stake in REDHILL BIOPHAR/S during the 1st quarter worth approximately $50,000. Meitav Dash Investments Ltd. bought a new stake in REDHILL BIOPHAR/S during the 1st quarter worth approximately $57,000. Jane Street Group LLC bought a new stake in REDHILL BIOPHAR/S during the 1st quarter worth approximately $95,000. Schonfeld Strategic Advisors LLC bought a new stake in REDHILL BIOPHAR/S during the 4th quarter worth approximately $104,000. Finally, Parametric Portfolio Associates LLC increased its stake in REDHILL BIOPHAR/S by 121.2% during the 1st quarter. Parametric Portfolio Associates LLC now owns 24,904 shares of the biotechnology company’s stock worth $113,000 after purchasing an additional 13,647 shares in the last quarter. 17.55% of the stock is owned by institutional investors and hedge funds.
About REDHILL BIOPHAR/S
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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