Analysts Set Expectations for RedHill Biopharma Ltd.’s FY2023 Earnings (NASDAQ:RDHL)

Posted by on Jun 9th, 2022

RedHill Biopharma Ltd. (NASDAQ:RDHL – Get Rating) – Equities research analysts at Cantor Fitzgerald issued their FY2023 EPS estimates for RedHill Biopharma in a research note issued on Monday, June 6th. Cantor Fitzgerald analyst B. Folkes anticipates that the biotechnology company will post earnings of $0.30 per share for the year.

RedHill Biopharma (NASDAQ:RDHL – Get Rating) last posted 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 company had revenue of $22.07 million for the quarter, compared to the consensus estimate 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 quarter last year, the business earned ($0.70) earnings per share.

RDHL has been the subject of a number of other reports. StockNews.com started coverage on shares of RedHill Biopharma in a report on Thursday, March 31st. They set a “hold” rating for the company. Zacks Investment Research cut shares of RedHill Biopharma from a “buy” rating to a “hold” rating in a report on Wednesday, May 4th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $13.81.

Shares of NASDAQ:RDHL opened at $1.03 on Thursday. RedHill Biopharma has a 12-month low of $0.90 and a 12-month high of $11.18. 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 company’s 50 day moving average price is $1.58 and its two-hundred day moving average price is $2.17.

Several hedge funds have recently modified their holdings of RDHL. Advisor Group Holdings Inc. boosted its holdings in shares of RedHill Biopharma by 288.7% during the third quarter. Advisor Group Holdings Inc. now owns 24,101 shares of the biotechnology company’s stock worth $110,000 after purchasing an additional 17,901 shares during the last quarter. CLARET ASSET MANAGEMENT Corp raised its position in shares of RedHill Biopharma by 14.1% during the 3rd quarter. CLARET ASSET MANAGEMENT Corp now owns 62,730 shares of the biotechnology company’s stock valued at $287,000 after acquiring an additional 7,758 shares in the last quarter. Ancora Advisors LLC acquired a new stake in RedHill Biopharma in the third quarter worth $172,000. BlackRock Inc. increased its holdings in shares of RedHill Biopharma by 8.2% during the third quarter. BlackRock Inc. now owns 312,139 shares of the biotechnology company’s stock valued at $1,430,000 after purchasing an additional 23,776 shares during the period. Finally, GSA Capital Partners LLP increased its holdings in shares of RedHill Biopharma by 28.1% during the third quarter. GSA Capital Partners LLP now owns 104,754 shares of the biotechnology company’s stock valued at $480,000 after purchasing an additional 22,976 shares during the period. 11.08% of the stock is owned by institutional investors and hedge funds.

RedHill Biopharma Company Profile (Get Rating)

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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