Zacks Investment Research Upgrades BioLineRx Ltd. (BLRX) to Hold
BioLineRx Ltd. (NASDAQ:BLRX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Thursday.
According to Zacks, “Bioline RX Ltd. is a biopharmaceutical development company. BioLineRx is dedicated to building a portfolio of products for unmet medical needs or with advantages over currently available therapies. The Company’s portfolio consists of clinical stage candidates including BL-1020 for schizophrenia , BL-1040, for treatment of patients following a myocardial infarction, BL-5010 for non-surgical removal of skin lesions, BL-1021 for neuropathic pain and BL-7040 for treating Inflammatory Bowel Disease. In addition, BioLineRx has many products in various pre-clinical development stages for a variety of indications, including central nervous system diseases, oncology, infectious diseases, cardiovascular and autoimmune diseases. “
A number of other research firms have also recently weighed in on BLRX. HC Wainwright set a $4.00 price target on BioLineRx and gave the company a “buy” rating in a research note on Wednesday, August 9th. Roth Capital set a $3.00 price target on BioLineRx and gave the company a “buy” rating in a research note on Wednesday, August 9th. Maxim Group set a $3.00 price target on BioLineRx and gave the company a “buy” rating in a research note on Tuesday, August 8th. Oppenheimer Holdings, Inc. began coverage on BioLineRx in a research note on Friday, August 4th. They issued an “outperform” rating and a $3.00 price target on the stock. Finally, ValuEngine cut BioLineRx from a “hold” rating to a “sell” rating in a research note on Thursday, August 24th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. BioLineRx has a consensus rating of “Buy” and a consensus target price of $2.59.
BioLineRx (NASDAQ:BLRX) opened at 1.04 on Thursday. The stock’s market cap is $99.44 million. The company’s 50 day moving average is $1.07 and its 200 day moving average is $0.97. BioLineRx has a 52 week low of $0.80 and a 52 week high of $1.42.
BioLineRx (NASDAQ:BLRX) last posted its quarterly earnings results on Tuesday, August 8th. The biotechnology company reported ($0.05) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.05). Equities analysts predict that BioLineRx will post ($0.24) earnings per share for the current year.
A number of hedge funds have recently bought and sold shares of BLRX. Benchmark Capital Advisors increased its position in BioLineRx by 227.3% during the 1st quarter. Benchmark Capital Advisors now owns 144,000 shares of the biotechnology company’s stock worth $138,000 after buying an additional 100,000 shares during the period. Citadel Advisors LLC increased its position in BioLineRx by 443.4% during the 1st quarter. Citadel Advisors LLC now owns 105,986 shares of the biotechnology company’s stock worth $102,000 after buying an additional 86,481 shares during the period. Renaissance Technologies LLC bought a new position in BioLineRx during the 1st quarter worth $126,000. KCG Holdings Inc. increased its position in BioLineRx by 715.9% during the 1st quarter. KCG Holdings Inc. now owns 175,156 shares of the biotechnology company’s stock worth $168,000 after buying an additional 153,687 shares during the period. Finally, Sabby Management LLC bought a new position in BioLineRx during the 1st quarter worth $3,018,000. Hedge funds and other institutional investors own 32.27% of the company’s stock.
BioLineRx Company Profile
BioLine RX Ltd is an Israel-based company engaged in the development of therapeutics, from preclinical-stage development to advanced clinical trials, for a range of medical needs. Its clinical therapeutic candidates under development consist of BL-1020 that is in Phase II/III clinical trials to improve cognitive function in schizophrenia patients; BL-1040, which is under pivotal CE-Mark registration trial for the prevention of cardiac remodeling following an acute myocardial infarction; BL-5010, which has completed Phase I/II clinical trials for non-surgical removal of skin lesions; BL-1021 that has completed Phase Ia clinical trial for the treatment of neuropathic pain or pain that results from damage to nerve fibers, and BL-7040, a synthetic oligonucleotide, which is in Phase II clinical trial for the treatment of inflammatory bowel disease.
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