FBR Capital Remains Bullish on RedHill Biopharma (RDHL); Sees Potential for Progress
- DuPont (DD) Tops Q4 EPS by 9c; Sees Merger Closing in First Half
- Barclays Downgrades Apple (AAPL) to Equalweight, Concerned India/China Will not Emerge As Growth Catalysts
- Yahoo! (YHOO) Tops Q4 EPS by 4c; Sees Verizon Deal Closing in Q2, Not Q1
- SAP (SAP) Q4 IFRS Revenues Rises 7%, Boosts 2020 Outlook
- Oppenheimer Downgrades Energous Corp (WATT) to Perform
Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.
FBR Capital reiterated an Outperform rating and $36.00 price target on Redhill Biopharma (NASDAQ: RDHL). FBR believes that there are still significant milestones that could translate into catalysts for the company. An independent Data Safety and Monitoring Board (DSMB) safety assessment of RHB-104 in Phase III testing expected by year-end, as-well-as an efficacy review for stopping MAP US.
Analyst Vernon 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. As a result, we reiterate our Outperform rating and price target of $36/share."
Shares of Redhill Biopharma closed at $14.47 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Instinet Downgrades DineEquity (DIN) to Neutral
- McDonald's (MCD) PT Raised to $130 at Credit Suisse
- Yahoo! (YHOO) PT Lowered to $43 at RBC Capital
Create E-mail Alert Related CategoriesAnalyst Comments
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!