Bioassociate Reiterated PT on RedHill Biopharma Ltd. Following Q2 Report
TEL AVIV, Israel, August 20, 2013 /PRNewswire/ --
In a report published on July 29, Bioassociate reiterated a Buy rating on RedHill Biopharma (RDHL) (RDHL.TA), and maintained the ADS price target of $14.9. The report contains a detailed discussion of RedHill's pipeline advancements during the second quarter of 2013 and adjusted cash flows. The Q2 update valuation report is available at:
In the report, Bioassociate noted, "In the last quarter RedHill Biopharma has progressed its clinical programs in many aspects and is on schedule to achieve the 2013 goals. A February 3 2014 PDUFA date has been set for RHB-103, and an NDA submission of RHB-102 is expected during Q1 2014 as well. In addition, the R&D and regulatory paths for RHB-101 have been clarified by RedHill, with regulatory filling planned for H2 2014. Given the multiple milestones approaching and the company being on-track with the clinical programs' timelines, we reiterate our BUY recommendation and our target price of $14.9 per RedHill ADS."
Bioassociate is an independent investment research firm specialized in the life-science sector. Bioassociate helps inform readers about small-mid cap life science companies without extensive analyst coverage. Bioassociate structures its teams with multidisciplinary members to conduct specific assignments. The Bioassociate team has industry experience as well as consulting and research track record, providing investors with in-depth scientific insights and their financial manifestation.
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