RedHill Biopharma (NASDAQ:RDHL) Now Covered by StockNews.com

Equities research analysts at StockNews.com began coverage on shares of RedHill Biopharma (NASDAQ:RDHL) in a research note issued to investors on Tuesday. The firm set a “hold” rating on the biotechnology company’s stock.

RedHill Biopharma Price Performance

Shares of NASDAQ:RDHL opened at $0.31 on Tuesday. The company’s 50-day moving average price is $0.55 and its two-hundred day moving average price is $1.23. RedHill Biopharma has a one year low of $0.26 and a one year high of $24.01.

RedHill Biopharma (NASDAQ:RDHL) last issued its quarterly earnings results on Thursday, August 17th. The biotechnology company reported $36.00 EPS for the quarter. RedHill Biopharma had a net margin of 354.95% and a negative return on equity of 328.99%. The firm had revenue of $1.80 million for the quarter.

Institutional Investors Weigh In On RedHill Biopharma

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cowen AND Company LLC bought a new stake in RedHill Biopharma during the 2nd quarter worth about $346,000. Armistice Capital LLC bought a new stake in shares of RedHill Biopharma in the 1st quarter valued at about $1,063,000. Morgan Stanley raised its holdings in shares of RedHill Biopharma by 15.0% in the 4th quarter. Morgan Stanley now owns 445,309 shares of the biotechnology company’s stock valued at $62,000 after purchasing an additional 58,128 shares during the period. Renaissance Technologies LLC bought a new stake in shares of RedHill Biopharma in the 4th quarter valued at about $49,000. Finally, Millennium Management LLC bought a new stake in shares of RedHill Biopharma in the 2nd quarter valued at about $324,000. 6.85% of the stock is owned by institutional investors.

RedHill Biopharma Company Profile

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.