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

Equities research analysts at StockNews.com initiated coverage on shares of RedHill Biopharma (NASDAQ:RDHL) in a report released on Friday. The brokerage set a “hold” rating on the biotechnology company’s stock.

RedHill Biopharma Stock Performance

RDHL stock opened at $0.42 on Friday. The firm has a 50 day simple moving average of $0.51 and a 200 day simple moving average of $0.75. RedHill Biopharma has a 52 week low of $0.26 and a 52 week high of $3.28.

Institutional Trading of RedHill Biopharma

An institutional investor recently bought a new position in RedHill Biopharma stock. Armistice Capital LLC bought a new stake in RedHill Biopharma Ltd. (NASDAQ:RDHL) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 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 and hedge funds own 7.20% of the company’s stock.

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.