StockNews.com Initiates Coverage on RedHill Biopharma (NASDAQ:RDHL)

Equities researchers at StockNews.com assumed coverage on shares of RedHill Biopharma (NASDAQ:RDHL) in a research report issued on Saturday. The firm set a “hold” rating on the biotechnology company’s stock.

RedHill Biopharma Trading Up 1.5 %

NASDAQ RDHL opened at $2.79 on Friday. RedHill Biopharma has a 12 month low of $2.47 and a 12 month high of $20.28. The company’s 50 day simple moving average is $4.43 and its 200 day simple moving average is $6.56.

Institutional Investors Weigh In On RedHill Biopharma

An institutional investor recently bought a new position in RedHill Biopharma stock. GAMMA Investing LLC purchased a new stake in RedHill Biopharma Ltd. (NASDAQ:RDHL) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 5,089 shares of the biotechnology company’s stock, valued at approximately $32,000. GAMMA Investing LLC owned 0.40% of RedHill Biopharma as of its most recent SEC filing. Institutional investors own 7.20% of the company’s stock.

RedHill Biopharma Company Profile

RedHill Biopharma Ltd., a specialty biopharmaceutical company, primarily focuses on gastrointestinal and infectious diseases. The company develops and commercializes Talicia for the treatment of H. pylori infection in adults; and Aemcolo for the treatment of travelers' diarrhea in adults. Its pipeline consists of five therapeutic candidates, which are in clinical development include opaganib for treating patients hospitalized with SARS-CoV-2 severe COVID-19 pneumonia, advanced unresectable cholangiocarcinoma, prostate cancer, and nuclear radiation protection; RHB-107 (upamostat) for treating outpatients infected with SARS-CoV-2 (COVID-19 disease) and advanced unresectable cholangiocarcinoma; RHB-104 for Crohn's disease; RHB-102 (Bekinda) for the treatment of acute gastroenteritis and gastritis, irritable bowel syndrome with diarrhea, and oncology support anti-emetic; and RHB-204 for pulmonary nontuberculous mycobacteria infections caused by mycobacterium avium complex.