RedHill Biopharma (NASDAQ:RDHL) Receives New Coverage from Analysts at StockNews.com

StockNews.com began coverage on shares of RedHill Biopharma (NASDAQ:RDHL) in a research note issued to investors on Saturday. The brokerage issued a hold rating on the biotechnology company’s stock.

RedHill Biopharma Stock Up 1.5 %

NASDAQ RDHL opened at $0.46 on Friday. RedHill Biopharma has a 1-year low of $0.26 and a 1-year high of $3.28. The stock has a 50-day moving average of $0.49 and a two-hundred day moving average of $0.75.

Institutional Investors Weigh In On RedHill Biopharma

An institutional investor recently bought a new position in RedHill Biopharma stock. Armistice Capital LLC bought a new position in shares of RedHill Biopharma Ltd. (NASDAQ:RDHL) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 722,894 shares of the biotechnology company’s stock, valued at approximately $369,000. Armistice Capital LLC owned 6.53% of RedHill Biopharma as of its most recent filing with the Securities and Exchange Commission (SEC). 7.20% of the stock is currently owned by hedge funds and other institutional investors.

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.