StockNews.com Begins Coverage on RedHill Biopharma (NASDAQ:RDHL)

StockNews.com assumed coverage on shares of RedHill Biopharma (NASDAQ:RDHL) in a report issued on Friday. The brokerage issued a hold rating on the biotechnology company’s stock.

RedHill Biopharma Price Performance

Shares of NASDAQ:RDHL opened at $0.43 on Friday. RedHill Biopharma has a 12 month low of $0.26 and a 12 month high of $3.28. The company’s 50-day moving average price is $0.51 and its two-hundred day moving average price is $0.75.

Institutional Investors Weigh In On RedHill Biopharma

A hedge fund recently bought a new stake in RedHill Biopharma stock. Armistice Capital LLC purchased a new stake in RedHill Biopharma Ltd. (NASDAQ:RDHL) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 722,894 shares of the biotechnology company’s stock, valued at approximately $369,000. Armistice Capital LLC owned about 6.53% of RedHill Biopharma as of its most recent SEC filing. Institutional investors own 7.20% of the company’s stock.

About RedHill Biopharma

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.