Redhill Biopharma Ltd. (RDHL) Expected to Announce Quarterly Sales of $1.27 Million
Equities analysts expect Redhill Biopharma Ltd. (NASDAQ:RDHL) to post $1.27 million in sales for the current quarter, Zacks reports. Two analysts have issued estimates for Redhill Biopharma’s earnings, with the lowest sales estimate coming in at $900,000.00 and the highest estimate coming in at $1.64 million. The company is expected to announce its next quarterly earnings results on Monday, November 13th.
According to Zacks, analysts expect that Redhill Biopharma will report full-year sales of $1.27 million for the current year, with estimates ranging from $2.78 million to $4.69 million. For the next fiscal year, analysts anticipate that the firm will post sales of $47.25 million per share, with estimates ranging from $11.01 million to $113.90 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Redhill Biopharma.
Redhill Biopharma (NASDAQ:RDHL) last announced its quarterly earnings results on Tuesday, July 25th. The biotechnology company reported ($0.60) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.58) by $0.02. The company had revenue of $0.48 million during the quarter, compared to the consensus estimate of $0.34 million.
A number of brokerages have recently commented on RDHL. HC Wainwright set a $33.00 target price on shares of Redhill Biopharma and gave the stock a “buy” rating in a research report on Wednesday, July 26th. Zacks Investment Research lowered shares of Redhill Biopharma from a “buy” rating to a “hold” rating in a research report on Wednesday, July 5th. Roth Capital set a $26.00 target price on shares of Redhill Biopharma and gave the stock a “buy” rating in a research report on Thursday, May 4th. Finally, FBR & Co reaffirmed a “buy” rating on shares of Redhill Biopharma in a research report on Friday, June 16th.
Shares of Redhill Biopharma (RDHL) traded down 1.93% on Friday, reaching $8.64. The company had a trading volume of 36,282 shares. The firm’s market capitalization is $148.29 million. The stock’s 50 day moving average is $9.03 and its 200 day moving average is $9.63. Redhill Biopharma has a 52 week low of $8.16 and a 52 week high of $15.99.
Several institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp bought a new position in shares of Redhill Biopharma during the first quarter worth approximately $101,000. Family Management Corp bought a new position in shares of Redhill Biopharma during the first quarter worth approximately $163,000. Penserra Capital Management LLC raised its position in shares of Redhill Biopharma by 75.0% in the first quarter. Penserra Capital Management LLC now owns 17,843 shares of the biotechnology company’s stock worth $171,000 after buying an additional 7,647 shares during the period. Oppenheimer & Co. Inc. raised its position in shares of Redhill Biopharma by 36.5% in the first quarter. Oppenheimer & Co. Inc. now owns 23,069 shares of the biotechnology company’s stock worth $221,000 after buying an additional 6,172 shares during the period. Finally, Renaissance Technologies LLC bought a new position in shares of Redhill Biopharma during the fourth quarter worth approximately $266,000. 12.31% of the stock is currently owned by institutional investors and hedge funds.
Redhill Biopharma Company Profile
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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