Zacks: Brokerages Anticipate RedHill Biopharma Ltd – (RDHL) Will Announce Quarterly Sales of $1.89 Million
Analysts forecast that RedHill Biopharma Ltd – (NASDAQ:RDHL) will announce sales of $1.89 million for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for RedHill Biopharma’s earnings, with the highest sales estimate coming in at $1.98 million and the lowest estimate coming in at $1.80 million. RedHill Biopharma posted sales of $100,000.00 during the same quarter last year, which would indicate a positive year over year growth rate of 1,790%. The business is expected to announce its next quarterly earnings results on Thursday, February 22nd.
On average, analysts expect that RedHill Biopharma will report full-year sales of $1.89 million for the current financial year, with estimates ranging from $3.81 million to $3.98 million. For the next year, analysts anticipate that the firm will report sales of $45.40 million per share, with estimates ranging from $8.80 million to $113.90 million. Zacks’ sales averages are a mean average based on a survey of analysts that cover RedHill Biopharma.
Several equities analysts have weighed in on the company. Zacks Investment Research raised RedHill Biopharma from a “sell” rating to a “hold” rating in a research report on Wednesday, September 27th. HC Wainwright reissued a “buy” rating and set a $36.00 price target (up previously from $33.00) on shares of RedHill Biopharma in a research report on Wednesday, October 4th. Roth Capital reissued a “buy” rating and set a $27.00 price target on shares of RedHill Biopharma in a research report on Wednesday, October 4th. Seaport Global Securities assumed coverage on RedHill Biopharma in a research report on Friday, October 6th. They set a “buy” rating and a $19.00 price target for the company. Finally, UBS began coverage on RedHill Biopharma in a research report on Wednesday, September 13th. They set a “reduce” rating for the company. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $21.10.
Several large investors have recently made changes to their positions in the company. Bank of New York Mellon Corp grew its position in shares of RedHill Biopharma by 13.6% in the second quarter. Bank of New York Mellon Corp now owns 12,005 shares of the biotechnology company’s stock valued at $103,000 after purchasing an additional 1,440 shares during the period. Oppenheimer & Co. Inc. boosted its holdings in RedHill Biopharma by 10.8% in the second quarter. Oppenheimer & Co. Inc. now owns 25,569 shares of the biotechnology company’s stock valued at $220,000 after acquiring an additional 2,500 shares during the last quarter. D.A. Davidson & CO. boosted its holdings in RedHill Biopharma by 10.0% in the second quarter. D.A. Davidson & CO. now owns 44,000 shares of the biotechnology company’s stock valued at $379,000 after acquiring an additional 4,000 shares during the last quarter. Family Management Corp boosted its holdings in RedHill Biopharma by 51.5% in the second quarter. Family Management Corp now owns 25,750 shares of the biotechnology company’s stock valued at $222,000 after acquiring an additional 8,750 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in RedHill Biopharma by 144.1% in the first quarter. Renaissance Technologies LLC now owns 62,000 shares of the biotechnology company’s stock valued at $595,000 after acquiring an additional 36,600 shares during the last quarter. 8.47% of the stock is owned by institutional investors and hedge funds.
RedHill Biopharma (NASDAQ RDHL) opened at $4.75 on Thursday. RedHill Biopharma has a 1 year low of $4.30 and a 1 year high of $11.99.
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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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