BioLineRx Ltd. (NASDAQ:BLRX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Tuesday.

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 analysts have also commented on BLRX. Maxim Group lowered shares of BioLineRx from a “buy” rating to a “hold” rating and dropped their price objective for the company from $4.00 to $1.00 in a research note on Monday, August 8th. Roth Capital restated a “buy” rating and issued a $7.00 price objective on shares of BioLineRx in a research note on Monday, September 26th. Finally, S&P Equity Research dropped their price objective on shares of BioLineRx from $1.24 to $1.10 in a research note on Friday, September 23rd. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $2.68.

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Shares of BioLineRx (NASDAQ:BLRX) traded down 4.35% on Tuesday, reaching $1.10. 89,935 shares of the company were exchanged. BioLineRx has a 52-week low of $0.71 and a 52-week high of $1.73. The stock has a 50 day moving average of $1.01 and a 200-day moving average of $0.92. The company’s market capitalization is $62.07 million.

BioLineRx (NASDAQ:BLRX) last announced its quarterly earnings results on Thursday, August 11th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by $0.02. On average, analysts predict that BioLineRx will post ($0.26) EPS for the current fiscal year.

A hedge fund recently raised its stake in BioLineRx stock. Menta Capital LLC boosted its position in BioLineRx Ltd. (NASDAQ:BLRX) by 11.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 98,917 shares of the company’s stock after buying an additional 10,400 shares during the period. Menta Capital LLC owned about 0.18% of BioLineRx worth $101,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 12.46% of the company’s stock.

About BioLineRx

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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