WBB Securities analyst Stephen Brozak maintained a Buy rating on RedHill Biopharma (RDHL) today and set a price target of $17. The company’s shares closed yesterday at $6.64.
Brozak said:
“We are predicting that the FDA will approve TALICIA based on a standard-of-care designation. Standard-of-care is the treatment that is accepted by medical experts as proper for a given disease and that is widely used by healthcare professionals. It also is called best practice, standard medical care, and standard therapy. In a lawsuit, the plaintiff must demonstrate that standard-of-care was not applied. With that ability to supplant all other therapy alternatives, TALICIA becomes the proverbial go to drug for the treatment of H. pylori. We are therefore upgrading RDHL from a Buy rating to a Strong Buy rating with a 12-month price target of $17.00 TALICIA will enter a lucrative market, estimated at $1.4 billion in the U.S. and $4.8 billion globally.”
According to TipRanks.com, Brozak is ranked #829 out of 5238 analysts.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for RedHill Biopharma with a $18.67 average price target, which is a 181.2% upside from current levels. In a report issued on July 8, Ascendiant also maintained a Buy rating on the stock with a $23 price target.
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Based on RedHill Biopharma’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $9.91 million. In comparison, last year the company had a GAAP net loss of $11.03 million.
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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. It operates through two segments: Commercial Operations and Research & Development.
