Wall Street Analyst Initiated RedHill Biopharma Ltd. [RDHL]. What else is Wall St. saying

RedHill Biopharma Ltd. [NASDAQ: RDHL] stock went on an upward path that rose over 0.56% on Thursday, amounting to a one-week price decrease of less than -13.13%. The company report on March 16, 2023 that RedHill Biopharma Announces Plan to Implement ADS Ratio Change.

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RedHill Biopharma Ltd. (Nasdaq: RDHL) (“RedHill” or the “Company”), a specialty biopharmaceutical company, today announced that it plans to implement a ratio change of the Company’s American Depositary Shares (ADSs) to its non-traded ordinary shares from the current ratio of one (1) ADS representing ten (10) ordinary shares to a new ratio of one (1) ADS representing four hundred (400) ordinary shares. The anticipated first date of the ratio change is on or about March 23, 2023, and the Company’s ADSs will continue to be traded on the Nasdaq Global Market (“Nasdaq”) under the symbol “RDHL” with a new CUSIP Number 757468202.

For ADS holders, the ratio change will have the same effect as a one-for-forty reverse ADS split. No new ADSs will be issued in connection with the change in the ADS ratio. ADS holders will not be required to take any action and, on the effective date, the Bank of New York Mellon, the depositary bank for RedHill’s ADS program, will arrange for the exchange of every forty (40) existing ADSs held for one (1) new ADS..

Over the last 12 months, RDHL stock dropped by -89.09%. The one-year RedHill Biopharma Ltd. stock forecast points to a potential upside of 93.45. The average equity rating for RDHL stock is currently 2.00, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $17.18 million, with 63.84 million shares outstanding and 34.99 million shares in the current float. Compared to the average trading volume of 6.42M shares, RDHL stock reached a trading volume of 3247530 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on RedHill Biopharma Ltd. [RDHL]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for RDHL shares is $2.75 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on RDHL stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Cantor Fitzgerald have made an estimate for RedHill Biopharma Ltd. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on August 31, 2021. While these analysts kept the previous recommendation, H.C. Wainwright raised their target price to Buy. The new note on the price target was released on May 18, 2021, representing the official price target for RedHill Biopharma Ltd. stock.

The Average True Range (ATR) for RedHill Biopharma Ltd. is set at 0.02, with the Price to Sales ratio for RDHL stock in the period of the last 12 months amounting to 0.24.

RDHL Stock Performance Analysis:

RedHill Biopharma Ltd. [RDHL] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -13.13. With this latest performance, RDHL shares dropped by -14.04% in over the last four-week period, additionally sinking by -78.44% over the last 6 months – not to mention a drop of -89.09% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for RDHL stock in for the last two-week period is set at 31.68, with the RSI for the last a single of trading hit 22.27, and the three-weeks RSI is set at 36.39 for RedHill Biopharma Ltd. [RDHL]. The present Moving Average for the last 50 days of trading for this stock 0.2032, while it was recorded at 0.1834 for the last single week of trading, and 0.5634 for the last 200 days.

Insight into RedHill Biopharma Ltd. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and RedHill Biopharma Ltd. [RDHL] shares currently have an operating margin of -94.61 and a Gross Margin at +42.39. RedHill Biopharma Ltd.’s Net Margin is presently recorded at -113.98.

Return on Equity for this stock declined to -860.29, with Return on Assets sitting at -54.12.

RedHill Biopharma Ltd.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.40 and a Current Ratio set at 0.40.

RedHill Biopharma Ltd. [RDHL] Insider Position Details

There are presently around $2 million, or 7.30% of RDHL stock, in the hands of institutional investors. The top three institutional holders of RDHL stocks are: SABBY MANAGEMENT, LLC with ownership of 7,450,400, which is approximately New of the company’s market cap and around 7.57% of the total institutional ownership; ACADIAN ASSET MANAGEMENT LLC, holding 659,736 shares of the stock with an approximate value of $0.12 million in RDHL stocks shares; and MILLENNIUM MANAGEMENT LLC, currently with $95000.0 in RDHL stock with ownership of nearly -15.262% of the company’s market capitalization.

Positions in RedHill Biopharma Ltd. stocks held by institutional investors increased at the end of Friday and at the time of the Friday reporting period, where 18 institutional holders increased their position in RedHill Biopharma Ltd. [NASDAQ:RDHL] by around 8,832,706 shares. Additionally, 23 investors decreased positions by around 996,363 shares, while 11 investors held positions by with 791,111 shares. The mentioned changes placed institutional holdings at 10,620,180 shares, according to the latest SEC report filing. RDHL stock had 9 new institutional investments in for a total of 8,565,043 shares, while 11 institutional investors sold positions of 682,045 shares during the same period.


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