- Cantor Fitzgerald has initiated coverage of RedHill Biopharma Ltd (NASDAQ:RDHL) with an Overweight rating and a $22 price target, an upside of approximately 115%.
- Redhill is focused on the development and commercialization of “several interesting drugs,” primarily focused on gastrointestinal and infectious diseases, analyst Brandon Folkes tells investors.
- The Company currently has several commercial products, which underpin the current valuation, says the analyst.
- Folkes believes the “valuation foundation creates a compelling investment opportunity” in light of RedHill’s “interesting pipeline,” which he notes includes two potential Covid-19 therapeutic drugs, as well as potential treatments for nontuberculous mycobacterial disease, in which there are no approved first-line treatments.
- The analyst thinks data readouts and product approvals will drive upside in the share.
- Related Content: RedHill’s Oral COVID-19 Candidate Shows Preclinical Action Against Delta Variant.
- Price Action: RDHL stock is up 17.20% at $10.06 during the market session on the last check Tuesday.
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