BioLineRx Ltd. (BLRX) Upgraded to “Hold” at Zacks Investment Research
BioLineRx Ltd. (NASDAQ:BLRX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
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 brokerages have also recently commented on BLRX. HC Wainwright set a $4.00 price target on shares of BioLineRx and gave the stock a “buy” rating in a research report on Tuesday, April 18th. Maxim Group set a $3.00 price target on shares of BioLineRx and gave the stock a “buy” rating in a research report on Thursday, May 25th. Finally, ValuEngine raised shares of BioLineRx from a “sell” rating to a “hold” rating in a research report on Monday, July 17th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $3.18.
BioLineRx (NASDAQ:BLRX) traded up 3.7189% during trading on Wednesday, reaching $0.9594. The company’s stock had a trading volume of 758,930 shares. The company’s 50 day moving average price is $0.87 and its 200 day moving average price is $0.96. BioLineRx has a 52 week low of $0.75 and a 52 week high of $1.42. The company’s market cap is $59.27 million.
BioLineRx (NASDAQ:BLRX) last announced its earnings results on Thursday, May 25th. The biotechnology company reported ($0.08) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.05) by $0.03. On average, equities analysts anticipate that BioLineRx will post ($0.24) earnings per share for the current fiscal year.
Several large investors have recently modified their holdings of BLRX. Sabby Management LLC bought a new stake in BioLineRx during the first quarter worth about $3,018,000. KCG Holdings Inc. raised its stake in shares of 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 buying an additional 153,687 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of BioLineRx during the first quarter valued at $126,000. Benchmark Capital Advisors raised its stake in shares of BioLineRx by 227.3% in the first quarter. Benchmark Capital Advisors now owns 144,000 shares of the biotechnology company’s stock valued at $138,000 after buying an additional 100,000 shares during the period. Finally, Citadel Advisors LLC raised its stake in shares of 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 buying an additional 86,481 shares during the period. 38.00% of the stock is currently owned by institutional investors.
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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