H.C. Wainwright Keeps Their Buy Rating on RedHill Biopharma

H.C. Wainwright analyst Swayampakula Ramakanth reiterated a Buy rating on RedHill Biopharma (NASDAQ: RDHL) today and set a price target of $36. The company’s shares opened today at $8.50.

Ramakanth observed:

“We are maintaining our Buy rating on RedHill and our 12- month price target of $36.00 per ADS based on the average of two valuation methods: 1) price-sales multiple using 7x 2025 sales estimate discounted at 14%; and 2) price-earnings multiple analysis applying a 15x multiple to our 2025 estimated earnings also discounted at 14%.”

According to TipRanks.com, Ramakanth is a 4-star analyst with an average return of 7.2% and a 38.3% success rate. Ramakanth covers the Healthcare sector, focusing on stocks such as Diffusion Pharmaceuticals Inc, IntelGenx Technologies, and Leap Therapeutics Inc.

Currently, the analyst consensus on RedHill Biopharma is a Moderate Buy with an average price target of $28, which is a 229.4% upside from current levels. In a report issued on June 25, Ladenburg also initiated coverage with a Buy rating on the stock with a $20 price target.

.

See today’s analyst top recommended stocks >>

The company has a one-year high of $11.25 and a one-year low of $4.30. Currently, RedHill Biopharma has an average volume of 96.48K.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

RedHill Biopharma Ltd. is a specialty biopharmaceutical company primarily focused on the development and commercialization of late clinical-stage, proprietary drugs for the treatment of gastrointestinal diseases. RedHill’s pipeline includes several drug candidates in advanced clinical development stages, including three Phase III-stage programs.