Cowen & Co. LLC recently announced the acquisition of new stake in RedHill Biopharma Ltd. (NASDAQ:RDHL). This fresh investment now brings its stake to 4.92% valued currently at $0.25 million. In addition, Citadel Securities LLC raised its holdings by 15729.0 to 15729.0 shares.
With over 10.05 million RedHill Biopharma Ltd. (RDHL) shares trading Monday and a closing price of $0.81 on the day, the dollar volume was approximately $8.14 million. The shares have shown a negative half year performance of -85.12% and its price on 09/18/23 lost nearly -4.59%. Currently, there are 5.85M common shares owned by the public and among those 2.93M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 1 analysts who have offered their price forecasts for RDHL have a consensus price objective of $40.00. The analysts have set the share’s price value over the next 12 months at a high of $40.00 and a low of $40.00. But an upside of 97.97% will see the stock hit the forecast high price target while median target price for the stock is $40.00.
The top 3 mutual fund holders in RedHill Biopharma Ltd. are Fidelity Nasdaq Composite Index F, Yorkville Health Care Opportuniti, and Kivun Gemisha. Fidelity Nasdaq Composite Index F owns 1040.0 shares of the company’s stock, all valued at over $913.0. Yorkville Health Care Opportuniti sold 1.0 shares to see its total holdings shrink to 359.0 shares valued at over $315.0 and representing 0.01% of the shares outstanding. Kivun Gemisha now owns shares totaling to 0.01% of the shares outstanding.
Shares of RedHill Biopharma Ltd. (NASDAQ: RDHL) opened at $0.97, up $0.12 from a prior closing price of $0.85. However, the script later moved the day high at 1.0200, down -4.59%. The company’s stock has a 5-day price change of -3.40% and -59.25% over the past three months. RDHL shares are trading -85.55% year to date (YTD), with the 12-month market performance down to -97.45% lower. It has a 12-month low price of $0.79 and touched a high of $38.40 over the same period. RDHL has an average intraday trading volume of 223.06K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -8.90%, -26.68%, and -81.23% respectively.
Institutional ownership of RedHill Biopharma Ltd. (NASDAQ: RDHL) shares accounts for 7.30% of the company’s 5.85M shares outstanding. Mutual fund holders own 0.04%, while other institutional holders and individual stakeholders account for 5.87% and — respectively.
It has a market capitalization of $4.67M and a beta (3y monthly) value of 2.00. The earnings-per-share (ttm) stands at -$4.18. Price movements for the stock have been influenced by the stock’s volatility, which stands at 10.90% over the week and 7.37% over the month.
Analysts forecast that RedHill Biopharma Ltd. (RDHL) will achieve an EPS of $0 for the current quarter, $0 for the next quarter and $0 for 2023. The lowest estimate earnings-per-share for the quarter is $0 while analysts give the company a high EPS estimate of $0. Comparatively, EPS for the current quarter was -$0.5 a year ago.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 1 brokerage firm advisors rate RedHill Biopharma Ltd. (RDHL) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 0 of the 1 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the RDHL, a number of firms have released research notes about the stock. Cantor Fitzgerald stated their Overweight rating for the stock in a research note on August 31, 2021, with the firm’s price target at $22.