683 Capital Management LLC raised its position in REDHILL BIOPHAR/S (NASDAQ:RDHL) by 22.8% in the 2nd quarter, HoldingsChannel reports. The firm owned 2,042,654 shares of the biotechnology company’s stock after buying an additional 378,751 shares during the period. REDHILL BIOPHAR/S accounts for approximately 1.2% of 683 Capital Management LLC’s investment portfolio, making the stock its 13th biggest holding. 683 Capital Management LLC owned about 0.10% of REDHILL BIOPHAR/S worth $17,424,000 as of its most recent SEC filing.

Separately, ARK Investment Management LLC increased its position in shares of REDHILL BIOPHAR/S by 8.6% during the second quarter. ARK Investment Management LLC now owns 112,648 shares of the biotechnology company’s stock worth $961,000 after acquiring an additional 8,894 shares in the last quarter. 22.50% of the stock is currently owned by institutional investors.

Several equities research analysts have recently issued reports on the stock. ValuEngine raised shares of REDHILL BIOPHAR/S from a “sell” rating to a “hold” rating in a research report on Friday, June 29th. Zacks Investment Research raised shares of REDHILL BIOPHAR/S from a “hold” rating to a “buy” rating and set a $8.50 price objective for the company in a research report on Thursday, September 6th. HC Wainwright reissued a “buy” rating and set a $36.00 price objective on shares of REDHILL BIOPHAR/S in a research report on Monday, July 2nd. Finally, LADENBURG THALM/SH SH assumed coverage on shares of REDHILL BIOPHAR/S in a research report on Monday, June 25th. They set a “buy” rating and a $20.00 price objective for the company. One analyst has rated the stock with a sell rating and six have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $20.25.

Shares of RDHL opened at $7.86 on Tuesday. REDHILL BIOPHAR/S has a 12 month low of $4.30 and a 12 month high of $11.49. The firm has a market cap of $158.70 million, a P/E ratio of -3.02 and a beta of 0.76.

REDHILL BIOPHAR/S (NASDAQ:RDHL) last announced its earnings results on Thursday, August 30th. The biotechnology company reported ($0.52) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.47) by ($0.05). REDHILL BIOPHAR/S had a negative return on equity of 133.07% and a negative net margin of 564.71%. The business had revenue of $2.35 million for the quarter, compared to analyst estimates of $2.77 million. analysts forecast that REDHILL BIOPHAR/S will post -1.73 EPS for the current fiscal year.

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. It commercializes and promotes gastrointestinal products in the United States. The company's pipeline includes various drug candidates that are in advanced clinical development stages, including three Phase III-stage programs.

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Institutional Ownership by Quarter for REDHILL BIOPHAR/S (NASDAQ:RDHL)

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