RedHill Biopharma (NASDAQ:RDHL) Share Price Crosses Below 200-Day Moving Average of $2.50

Shares of RedHill Biopharma Ltd. (NASDAQ:RDHLGet Rating) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $2.50 and traded as low as $1.00. RedHill Biopharma shares last traded at $1.03, with a volume of 322,854 shares trading hands.

Several research analysts have recently commented on the company. StockNews.com assumed coverage on RedHill Biopharma in a report on Thursday, March 31st. They set a “hold” rating on the stock. Zacks Investment Research lowered RedHill Biopharma from a “buy” rating to a “hold” rating in a report on Wednesday, May 4th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, RedHill Biopharma has an average rating of “Buy” and an average target price of $14.25.

The company has a market capitalization of $54.26 million, a price-to-earnings ratio of -0.49 and a beta of 1.90. The company has a debt-to-equity ratio of 9.42, a quick ratio of 0.91 and a current ratio of 1.09. The firm has a 50-day simple moving average of $1.97 and a two-hundred day simple moving average of $2.48.

RedHill Biopharma (NASDAQ:RDHLGet Rating) last released its earnings results on Thursday, March 17th. The biotechnology company reported ($0.50) earnings per share for the quarter, missing the consensus estimate of ($0.40) by ($0.10). The firm had revenue of $22.07 million during the quarter, compared to analyst estimates of $22.99 million. RedHill Biopharma had a negative net margin of 113.98% and a negative return on equity of 379.42%. During the same period in the prior year, the firm earned ($0.70) earnings per share. As a group, equities analysts forecast that RedHill Biopharma Ltd. will post -0.96 EPS for the current fiscal year.

Institutional investors have recently made changes to their positions in the company. Virtu Financial LLC acquired a new position in RedHill Biopharma in the first quarter valued at approximately $68,000. Disciplined Growth Investors Inc. MN boosted its holdings in RedHill Biopharma by 0.7% in the first quarter. Disciplined Growth Investors Inc. MN now owns 1,950,002 shares of the biotechnology company’s stock valued at $4,914,000 after purchasing an additional 14,413 shares in the last quarter. BlackRock Inc. boosted its holdings in RedHill Biopharma by 18.6% in the first quarter. BlackRock Inc. now owns 357,493 shares of the biotechnology company’s stock valued at $901,000 after purchasing an additional 56,178 shares in the last quarter. Gagnon Securities LLC boosted its holdings in RedHill Biopharma by 15.4% in the first quarter. Gagnon Securities LLC now owns 367,346 shares of the biotechnology company’s stock valued at $926,000 after purchasing an additional 49,023 shares in the last quarter. Finally, ARK Investment Management LLC acquired a new position in RedHill Biopharma in the first quarter valued at approximately $2,172,000. 11.08% of the stock is owned by institutional investors and hedge funds.

About RedHill Biopharma (NASDAQ:RDHL)

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.

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