Cantor Sees 'Compelling Investment Opportunity' In This Biopharma

Cantor Fitzgerald has initiated coverage of RedHill Biopharma Ltd 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.