.jpg "RedHill Biopharma (NASDAQ: RDHL)")
H.C. Wainwright analyst Swayampakula Ramakanth reiterated a Buy rating on RedHill Biopharma (RDHL) today and set a price target of $36. The company’s shares closed yesterday at $9.35.
Ramakanth noted:
“We have updated our model to reflect the reported 3Q18 financials. Currently, we project revenues of $10.4M and a net loss of $0.18 per share for 2018. The company also reported approximately $43M in cash and cash equivalents at the end of 3Q18, which we believe is sufficient to fund operations into 2Q19.”
According to TipRanks.com, Ramakanth is a 1-star analyst with an average return of -0.5% and a 34.0% success rate. Ramakanth covers the Healthcare sector, focusing on stocks such as Diffusion Pharmaceuticals Inc, IntelGenx Technologies, and Leap Therapeutics Inc.
RedHill Biopharma has an analyst consensus of Moderate Buy, with a price target consensus of $36.
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The company has a one-year high of $11.49 and a one-year low of $4.30. Currently, RedHill Biopharma has an average volume of 102.6K.
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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.
