It is Poised to be a Bull Market for RedHill Biopharma Ltd. (RDHL)

RedHill Biopharma Ltd. (NASDAQ: RDHL) stock fell -8.26% on Wednesday to $0.39 against a previous-day closing price of $0.43. With 1.86 million shares changed hands, the volume of the stock remained lighter than its average volume of 2.94 million shares. During the session, the Drug Manufacturers – Specialty & Generic company that operates in wider Healthcare sector, reached to the highest price of $0.4295 whereas the lowest price it dropped to was $0.2521. The 52-week range on RDHL shows that it touched its highest point at $3.37 and its lowest point at $0.42 during that stretch. It currently has a 1-year price target of $7.75. Beta for the stock currently stands at 2.10.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of RDHL was down-trending over the past week, with a drop of -19.57%, but this was down by -37.97% over a month. Three-month performance dropped to -62.14% while six-month performance fell -59.29%. The stock lost -85.66% in the past year, while it has lost -84.88% so far this year. A look at the trailing 12-month EPS for RDHL yields -1.90 with Next year EPS estimates of 0.03. For the next quarter, that number is -0.03. This implies an EPS growth rate of -0.50% for this year and 123.10% for next year.

Float and Shares Shorts:

At present, 52.52 million RDHL shares are outstanding with a float of 34.99 million shares on hand for trading. On Oct 30, 2022, short shares totaled 2.42 million, which was 3.78% higher than short shares on Sep 29, 2022. In addition to Mr. Dror Ben-Asher as the firm’s Co-Founder, Chairman & CEO, Mr. Micha Ben-Chorin serves as its Chief Financial Officer.

Institutional Ownership:

Through their ownership of 8.82% of RDHL’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 4.25% of RDHL, in contrast to 3.95% held by mutual funds. Shares owned by individuals account for –. As the largest shareholder in RDHL with 2.37% of the stake, Medical Strategy GmbH holds 1,381,299 shares worth 1,381,299. A second-largest stockholder of RDHL, Millennium Management LLC, holds 623,892 shares, controlling over 1.07% of the firm’s shares. Apo Asset Management GmbH is the third largest shareholder in RDHL, holding 604,382 shares or 1.04% stake. With a 2.01% stake in RDHL, the FCP Medical – BioHealth is the largest stakeholder. A total of 1,169,340 shares are owned by the mutual fund manager. The APO Medical Opportunities, which owns about 0.65% of RDHL stock, is the second-largest Mutual Fund holder. It holds 380,687 shares valued at 0.26 million. iShares Biotechnology ETF holds 0.56% of the stake in RDHL, owning 325,474 shares worth 0.23 million.

An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2022, RDHL reported revenue of $18.35M and operating income of -$9.16M. Over the past year, revenue came in at $75.13M while operating income stood at -$63.88M. It generated -$11.71M net income for the quarter, which came to -$78.00M over the last twelve months. The EBITDA in the recently reported quarter was -$5.58M and diluted EPS was -$0.20. EBITDA for the full year was -$44.67M.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for RDHL since 1 analysts follow the stock currently. There are 1 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 0 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With RDHL analysts setting a high price target of $1.00 and a low target of $1.00, the average target price over the next 12 months is $1.00. Based on these targets, RDHL could surge 156.41% to reach the target high and rise by 156.41% to reach the target low. Reaching the average price target will result in a growth of 156.41% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. RDHL will report FY 2022 earnings on 02/23/2023. Analysts have provided yearly estimates in a range of -$0.07 being high and -$0.07 being low. For RDHL, this leads to a yearly average estimate of -$0.07. The surprise factor in the prior quarter was $0.27. Based on analyst estimates, the high estimate for the next quarter is -$0.01 and the low estimate is -$0.01. The average estimate for the next quarter is thus -$0.01.

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