RedHill Biopharma Ltd. (NASDAQ:RDHL) was the recipient of a large drop in short interest during the month of April. As of April 15th, there was short interest totalling 2,010,000 shares, a drop of 27.2% from the March 31st total of 2,760,000 shares. Based on an average daily volume of 537,100 shares, the days-to-cover ratio is presently 3.7 days.

Separately, Zacks Investment Research raised RedHill Biopharma from a “sell” rating to a “hold” rating in a research report on Friday, February 26th.

RDHL traded down $0.35 during trading hours on Tuesday, hitting $6.34. The stock had a trading volume of 5,231 shares, compared to its average volume of 509,264. The company’s fifty day simple moving average is $7.22 and its 200 day simple moving average is $8.35. RedHill Biopharma has a 1 year low of $6.06 and a 1 year high of $11.52. The stock has a market cap of $294.14 million, a PE ratio of -3.84 and a beta of 1.71. The company has a quick ratio of 1.64, a current ratio of 1.80 and a debt-to-equity ratio of 2.79.

RedHill Biopharma (NASDAQ:RDHL) last announced its quarterly earnings data on Wednesday, March 17th. The biotechnology company reported ($0.70) earnings per share for the quarter, missing the consensus estimate of ($0.36) by ($0.34). RedHill Biopharma had a negative return on equity of 152.19% and a negative net margin of 142.81%. The firm had revenue of $21.46 million during the quarter, compared to analysts’ expectations of $26.72 million. As a group, equities analysts expect that RedHill Biopharma will post -1.66 EPS for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Steward Partners Investment Advisory LLC bought a new position in RedHill Biopharma in the 4th quarter worth about $40,000. Aperio Group LLC bought a new position in RedHill Biopharma in the 4th quarter worth about $149,000. Virtu Financial LLC bought a new position in RedHill Biopharma in the 3rd quarter worth about $181,000. Morgan Stanley boosted its stake in RedHill Biopharma by 505.0% in the 3rd quarter. Morgan Stanley now owns 19,276 shares of the biotechnology company’s stock worth $197,000 after purchasing an additional 16,090 shares during the period. Finally, D.A. Davidson & CO. boosted its stake in RedHill Biopharma by 54.4% in the 4th quarter. D.A. Davidson & CO. now owns 29,800 shares of the biotechnology company’s stock worth $241,000 after purchasing an additional 10,500 shares during the period. 20.36% of the stock is owned by institutional investors.

RedHill Biopharma Company Profile

RedHill Biopharma Ltd., a specialty biopharmaceutical company, primarily focused 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.

See Also: How does inflation affect different investments?

Receive News & Ratings for RedHill Biopharma Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RedHill Biopharma and related companies with MarketBeat.com's FREE daily email newsletter.