Zacks Investment Research Lowers Bioline RX (BLRX) to Sell
Zacks Investment Research cut shares of Bioline RX (NASDAQ:BLRX) from a hold rating to a sell rating in a research note released on Thursday morning.
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. “
BLRX has been the topic of several other reports. Oppenheimer initiated coverage on Bioline RX in a research report on Thursday, December 21st. They issued a buy rating and a $3.00 target price on the stock. Maxim Group set a $3.00 target price on Bioline RX and gave the company a buy rating in a research report on Monday, December 4th. HC Wainwright set a $4.00 target price on Bioline RX and gave the company a buy rating in a research report on Monday, December 4th. Finally, ValuEngine raised Bioline RX from a strong sell rating to a sell rating in a research report on Thursday, November 30th. Two research analysts have rated the stock with a sell rating and four have issued a buy rating to the company. Bioline RX presently has a consensus rating of Hold and an average target price of $2.85.
A hedge fund recently raised its stake in Bioline RX stock. Renaissance Technologies LLC lifted its position in Bioline RX Ltd (NASDAQ:BLRX) by 60.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 434,700 shares of the biotechnology company’s stock after acquiring an additional 164,500 shares during the period. Renaissance Technologies LLC owned 0.41% of Bioline RX worth $474,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors own 35.39% of the company’s stock.
About Bioline RX
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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