RedHill Biopharma Receives a Buy from FBR Capital

FBR Capital analyst Vernon Bernardino reiterated a Buy rating on RedHill Biopharma (NASDAQ: RDHL) today and set a price target of $36. The company’s shares opened today at $14.48.

Bernardino commented:

“We look for progress in RedHill Biopharma’s clinical-stage programs to continue being translated into stock appreciation. We think significant milestones remain, such as an independent Data Safety and Monitoring Board (DSMB) safety assessment of RHB-104 in Phase III testing in Crohn’s disease (the MAP US study) expected by year-end 2016 and an efficacy review for stopping MAP US early due to overwhelming efficacy expected in 2Q17, which could be positive catalysts for the stock in the next three to six months. We think the potential of these catalysts to result in stock appreciation, as well as others such as continued success expanding the worldwide market potential of RedHill’s first commercialized product, Rizaport, and progress with Yeliva in mid-stage testing in multiple oncology indications, remain under-recognized.”

According to TipRanks.com, Bernardino is ranked 0 out of 5 stars with an average return of -15.4% and a 26.0% success rate. Bernardino covers the Healthcare sector, focusing on stocks such as ImmunoCellular Therapeutics, Actinium Pharmaceuticals, and Conatus Pharmaceuticals.

Currently, the analyst consensus on RedHill Biopharma is Strong Buy and the average price target is $26, representing a 79.6% upside.

In a report issued on October 7, H.C. Wainwright also reiterated a Buy rating on the stock with a $33 price target.

The company has a one year high of $16.54 and a one year low of $8.10. Currently, RedHill Biopharma has an average volume of 40.27K.

RedHill Biopharma Ltd. is a biopharmaceutical company. Primarily, it is focused on the development and commercialization of late clinical-stage, proprietary, orally-administered, small molecule drugs for the treatment of gastrointestinal and inflammatory diseases and cancer. Its current pipeline of proprietary products includes: (i) RHB-105-an oral combination therapy for the treatment of Helicobacter pylori infection with successful results from a first Phase III study; (ii) RHB-104-an oral combination therapy for the treatment of Crohn’s disease with an ongoing first Phase III study and an ongoing proof-of-concept Phase IIa study for multiple sclerosis; (iii) BEKINDA (RHB-102)-a once-daily oral pill formulation of ondansetron with an ongoing Phase III study in the U.S. for acute gastroenteritis and gastritis and an ongoing Phase II study for IBS-D; (iv) RHB-106-an encapsulated bowel preparation licensed to Salix Pharmaceuticals Ltd.; (v) YELIVA (ABC294640)-a Phase II-stage, orally-administered, first-in-class SK2 selective inhibitor targeting multiple oncology, inflammatory and gastrointestinal indications; (vi) MESUPRON-a Phase II-stage first-in-class uPA inhibitor, administered by oral capsule, targeting gastrointestinal and other solid tumors; (vii) RP101 is a Phase II-stage first-in-class Hsp27 inhibitor, administered by oral tablet, targeting pancreatic and other gastrointestinal cancers; (viii) RIZAPORT (RHB-103)-an oral thin film formulation of rizatriptan for acute migraines and (ix) RHB-101-a once-daily oral pill formulation of the cardio drug carvedilol. The company was founded by Dror Ben-Asher and Ori Shilo on August 3, 2009 and is headquartered in Tel Aviv, Israel.