RedHill’s Enterprise Value Of ~$100 Million Underestimates The Breadth Of Its Pipeline, Says Roth Capital


In a research report issued today, Roth Capital analyst Scott Henry maintained a Buy rating on RedHill Biopharma (NASDAQ:RDHL), with a price target of $25. The report follows multiple positive pipeline announcements for the company’s candidates RHB-102 and RHB-105.

Henry observed, “RDHL has made multiple announcements in recent weeks that demonstrate the advancement of its new drug pipeline. This includes 1) identifying its next indication for RHB-102 as acute gastroenteritis, 2) increasing the # of patients in the pivotal RHB-105 trial to treat H. pylori, and 3) broadening a potential label indication for RHB-105.”. The analyst added, “We highlight these advancements within this note with updated EPS and pipeline models. We reiterate our Buy rating with an increased price target of $25/share. We continue to believe that RDHL’s enterprise value of ~$100 million underestimates the breadth of the company’s pipeline.”

According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Scott Henry has a total average return of 23.4% and a 59.6% success rate. Henry has a -3.5% average return when recommending RDHL, and is ranked #145 out of 3255 analysts.

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