Zacks Investment Research upgraded shares of BioLineRx Ltd. (NASDAQ:BLRX) from a sell rating to a hold rating in a research report sent to investors 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. “
Other analysts have also recently issued reports about the company. Maxim Group set a $3.00 price target on BioLineRx and gave the stock a buy rating in a report on Monday, July 10th. HC Wainwright set a $4.00 price target on BioLineRx and gave the stock a buy rating in a report on Saturday, June 3rd. Roth Capital set a $3.00 price target on BioLineRx and gave the stock a buy rating in a report on Wednesday, August 9th. Oppenheimer Holdings, Inc. restated a buy rating and set a $3.00 price target on shares of BioLineRx in a report on Tuesday, September 12th. Finally, ValuEngine upgraded BioLineRx from a sell rating to a hold rating in a report on Monday, July 17th. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. BioLineRx presently has a consensus rating of Buy and an average price target of $2.59.
BioLineRx (NASDAQ BLRX) traded up 0.455% on Thursday, reaching $1.105. 66,384 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $1.08 and its 200 day moving average is $0.96. BioLineRx has a 52 week low of $0.80 and a 52 week high of $1.42. The company’s market cap is $105.66 million.
BioLineRx (NASDAQ:BLRX) last released its quarterly earnings results on Tuesday, August 8th. The biotechnology company reported ($0.05) earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.05). On average, equities analysts anticipate that BioLineRx will post ($0.24) earnings per share for the current year.
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A number of hedge funds have recently made changes to their positions in BLRX. Sabby Management LLC bought a new stake in BioLineRx in the first quarter valued at approximately $3,018,000. KCG Holdings Inc. boosted its holdings in BioLineRx by 715.9% in the first quarter. KCG Holdings Inc. now owns 175,156 shares of the biotechnology company’s stock valued at $168,000 after acquiring an additional 153,687 shares during the last quarter. Renaissance Technologies LLC bought a new stake in BioLineRx in the first quarter valued at approximately $126,000. Finally, Citadel Advisors LLC boosted its holdings in BioLineRx by 443.4% in the first quarter. Citadel Advisors LLC now owns 105,986 shares of the biotechnology company’s stock valued at $102,000 after acquiring an additional 86,481 shares during the last quarter. Institutional investors and hedge funds own 32.27% of the company’s stock.
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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