Positive data expected for RedHill Biopharma's Crohn's disease candidate
Analysts at Roth Capital Partners have launched coverage of Israel-based specialty pharma company RedHill Biopharma (TASE: RDHL) with a “Buy” rating and a $20/share price target, saying their impetus for the rating is expected positive data for the company's late stage treatment for Crohn's disease (RHB-104).
Key investment drivers to their investment thesis include:
• Crohn's disease is a substantial market and RHB-104 is differentiated. The overall market for Crohn's disease is substantial with estimates reaching $3 billion per year. Equally important, RHB-104 offers a safer alternative than immune-compromising drugs and could be available as an oral treatment.
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