Analysts Anticipate RedHill Biopharma Ltd (RDHL) Will Post Quarterly Sales of $2.14 Million

Equities research analysts expect RedHill Biopharma Ltd (NASDAQ:RDHL) to post sales of $2.14 million for the current fiscal quarter, according to Zacks. Two analysts have made estimates for RedHill Biopharma’s earnings, with estimates ranging from $1.89 million to $2.40 million. The firm is scheduled to issue its next quarterly earnings report on Wednesday, May 2nd.

On average, analysts expect that RedHill Biopharma will report full year sales of $44.75 million for the current year, with estimates ranging from $9.42 million to $113.90 million. For the next financial year, analysts expect that the firm will report sales of $59.16 million per share, with estimates ranging from $15.00 million to $141.40 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover RedHill Biopharma.

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RedHill Biopharma (NASDAQ:RDHL) last posted its quarterly earnings results on Thursday, February 22nd. The biotechnology company reported ($0.50) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.65) by $0.15. The company had revenue of $2.00 million for the quarter, compared to the consensus estimate of $1.89 million.

Separately, Nomura initiated coverage on shares of RedHill Biopharma in a report on Friday, January 26th. They set a “buy” rating and a $18.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company’s stock. RedHill Biopharma presently has an average rating of “Buy” and an average price target of $19.70.

NASDAQ RDHL traded down $0.04 during trading on Thursday, hitting $4.85. 162,262 shares of the company’s stock traded hands, compared to its average volume of 87,360. The company has a market cap of $107.22, a PE ratio of -1.87 and a beta of 0.67. RedHill Biopharma has a 12-month low of $4.30 and a 12-month high of $11.25.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sabby Management LLC purchased a new stake in RedHill Biopharma during the fourth quarter valued at about $110,000. ARK Investment Management LLC purchased a new stake in RedHill Biopharma during the fourth quarter valued at about $149,000. Citadel Advisors LLC purchased a new stake in RedHill Biopharma during the fourth quarter valued at about $170,000. Meitav Dash Investments Ltd. purchased a new stake in RedHill Biopharma during the fourth quarter valued at about $244,000. Finally, Virtu Financial LLC purchased a new stake in RedHill Biopharma during the fourth quarter valued at about $312,000. 16.23% of the stock is currently owned by institutional investors and hedge funds.

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About RedHill Biopharma

RedHill Biopharma Ltd., a specialty biopharmaceutical company, primarily focuses on the development and commercialization of late clinical-stage, proprietary, and in-licensed/acquired drugs for the treatment of gastrointestinal and inflammatory diseases, and cancer. The company commercializes three gastrointestinal products in the United States, such as Donnatal, a prescription oral adjunctive drug used in the treatment of irritable bowel syndrome (IBS), and acute enterocolitis and duodenal ulcers; EnteraGam, a prescription medical food intended for the dietary management, under medical supervision, of chronic diarrhea and loose stools; and Esomeprazole Strontium Delayed-Release Capsules 49.3 mg, a prescription proton pump inhibitor drug product indicated for adults for the treatment of GERD, risk reduction of NSAID-associated gastric ulcer, Helicobacter pylori eradication to reduce the risk of duodenal ulcer recurrence, and for pathological hypersecretory conditions.

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