WBB Securities upgraded shares of REDHILL BIOPHAR/S (NASDAQ:RDHL) from a buy rating to a strong-buy rating in a research report sent to investors on Friday, Benzinga reports. They currently have $17.00 price objective on the biotechnology company’s stock.

Several other equities analysts also recently issued reports on the stock. Ascendiant Capital Markets set a $23.00 price target on shares of REDHILL BIOPHAR/S and gave the company a buy rating in a report on Monday, July 8th. ValuEngine downgraded shares of Zumiez from a hold rating to a sell rating in a report on Tuesday, July 2nd. Finally, Zacks Investment Research downgraded shares of Zynerba Pharmaceuticals from a buy rating to a hold rating in a report on Saturday, May 11th. One analyst has rated the stock with a sell rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and an average target price of $17.75.

Shares of REDHILL BIOPHAR/S stock opened at $7.40 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.99 and a current ratio of 4.09. The company’s 50-day simple moving average is $7.05. REDHILL BIOPHAR/S has a twelve month low of $5.13 and a twelve month high of $11.49. The firm has a market cap of $162.33 million, a price-to-earnings ratio of -4.35 and a beta of 1.40.

REDHILL BIOPHAR/S (NASDAQ:RDHL) last issued its earnings results on Tuesday, May 7th. The biotechnology company reported ($0.35) earnings per share for the quarter, beating the consensus estimate of ($0.39) by $0.04. REDHILL BIOPHAR/S had a negative net margin of 506.47% and a negative return on equity of 97.62%. The business had revenue of $1.74 million for the quarter, compared to analyst estimates of $2.98 million. Sell-side analysts predict that REDHILL BIOPHAR/S will post -1.3 earnings per share for the current year.

Hedge funds have recently made changes to their positions in the stock. Van ECK Associates Corp lifted its holdings in REDHILL BIOPHAR/S by 42.1% during the 4th quarter. Van ECK Associates Corp now owns 10,787 shares of the biotechnology company’s stock valued at $60,000 after purchasing an additional 3,195 shares during the last quarter. Geode Capital Management LLC bought a new position in REDHILL BIOPHAR/S during the 4th quarter valued at about $73,000. D. E. Shaw & Co. Inc. bought a new position in REDHILL BIOPHAR/S during the 4th quarter valued at about $186,000. Sanders Morris Harris LLC bought a new position in REDHILL BIOPHAR/S during the 2nd quarter valued at about $330,000. Finally, ARK Investment Management LLC lifted its holdings in REDHILL BIOPHAR/S by 8.5% during the 1st quarter. ARK Investment Management LLC now owns 65,918 shares of the biotechnology company’s stock valued at $548,000 after purchasing an additional 5,177 shares during the last quarter. 35.48% of the stock is owned by hedge funds and other institutional investors.

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 in the United States. It operates through two segments, Commercial Operations and Research & Development. The company's clinical-stage development programs comprise TALICIA, a drug that is in Phase III clinical trial for the helicobacter pylori infection; RHB-104 that is in Phase III clinical trials for crohn's disease, as well as that has completed Phase II clinical trial for multiple sclerosis; RHB-204 for pulmonary nontuberculous mycobacteria infections; BEKINDA 24 mg that has completed Phase III clinical trial for acute gastroenteritis and gastritis; BEKINDA 12 mg that has completed Phase II clinical trial for irritable bowel syndrome with diarrhea; RHB-106 for bowel preparation; and RHB-107 that has completed Phase II clinical trial for gastrointestinal and other solid tumors.

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