BioLineRx Ltd. (BLRX) Lifted to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of BioLineRx Ltd. (NASDAQ:BLRX) from a hold rating to a buy rating in a research report released on Tuesday. They currently have $1.25 price objective on the biotechnology company’s stock.
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. “
Several other equities research analysts also recently commented on BLRX. Maxim Group set a $3.00 price objective on BioLineRx and gave the company a buy rating in a report on Monday, July 10th. ValuEngine upgraded BioLineRx from a sell rating to a hold rating in a report on Monday, July 17th. Roth Capital started coverage on BioLineRx in a report on Thursday, August 3rd. They set a buy rating and a $3.00 price objective for the company. Oppenheimer Holdings, Inc. started coverage on BioLineRx in a report on Friday, August 4th. They set an outperform rating and a $3.00 price objective for the company. Finally, HC Wainwright set a $4.00 price objective on BioLineRx and gave the company a buy rating in a report on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating and six have issued a buy rating to the stock. The stock currently has an average rating of Buy and an average target price of $2.88.
Shares of BioLineRx (BLRX) traded up 0.38% during trading on Tuesday, hitting $1.31. The company had a trading volume of 100,055 shares. The stock’s market capitalization is $125.26 million. BioLineRx has a 12-month low of $0.80 and a 12-month high of $1.42. The stock has a 50-day moving average of $1.09 and a 200 day moving average of $0.97.
BioLineRx (NASDAQ:BLRX) last released its quarterly earnings data on Tuesday, August 8th. The biotechnology company reported ($0.05) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.05). On average, analysts predict that BioLineRx will post ($0.24) EPS for the current fiscal year.
Several large investors have recently made changes to their positions in the stock. Sabby Management LLC purchased a new position in shares of BioLineRx during the first quarter valued at approximately $3,018,000. KCG Holdings Inc. boosted its position in shares of BioLineRx by 715.9% during the first quarter. KCG Holdings Inc. now owns 175,156 shares of the biotechnology company’s stock valued at $168,000 after buying an additional 153,687 shares during the last quarter. Renaissance Technologies LLC purchased a new position in shares of BioLineRx during the first quarter valued at approximately $126,000. Finally, Citadel Advisors LLC boosted its position in shares of BioLineRx by 443.4% during the first quarter. Citadel Advisors LLC now owns 105,986 shares of the biotechnology company’s stock valued at $102,000 after buying an additional 86,481 shares during the last quarter. 32.27% of the stock is currently owned by institutional investors.
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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