RedHill Biopharma (NASDAQ:RDHL) Receives New Coverage from Analysts at StockNews.com

Analysts at StockNews.com started coverage on shares of RedHill Biopharma (NASDAQ:RDHL) in a report released on Friday. The firm set a “hold” rating on the biotechnology company’s stock.

RedHill Biopharma Stock Performance

Shares of RDHL opened at $0.42 on Friday. RedHill Biopharma has a 12 month low of $0.26 and a 12 month high of $3.28. The stock has a fifty day moving average price of $0.51 and a 200-day moving average price of $0.75.

Institutional Trading of RedHill Biopharma

An institutional investor recently bought a new position in RedHill Biopharma stock. Armistice Capital LLC bought a new stake in RedHill Biopharma Ltd. (NASDAQ:RDHL) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 722,894 shares of the biotechnology company’s stock, valued at approximately $369,000. Armistice Capital LLC owned 6.53% of RedHill Biopharma at the end of the most recent reporting period. Institutional investors and hedge funds 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 promotes gastrointestinal drugs, including Movantik for opioid-induced constipation in adults with chronic non-cancer pain; Talicia for the treatment of Helicobacter pylori infection in adults; and Aemcolo for the treatment of travelers' diarrhea in adults.