BioLineRx Ltd. (BLRX) Given a $3.00 Price Target by Maxim Group Analysts
BioLineRx Ltd. (NASDAQ:BLRX) has been assigned a $3.00 price target by investment analysts at Maxim Group in a research note issued to investors on Tuesday. The firm presently has a “buy” rating on the biotechnology company’s stock. Maxim Group’s price target would suggest a potential upside of 154.24% from the company’s previous close.
Several other brokerages have also issued reports on BLRX. ValuEngine raised BioLineRx from a “sell” rating to a “hold” rating in a research note on Monday, July 17th. Roth Capital initiated coverage on BioLineRx in a research note on Thursday, August 3rd. They set a “buy” rating and a $3.00 price objective for the company. Zacks Investment Research lowered BioLineRx from a “buy” rating to a “sell” rating in a research note on Tuesday, June 20th. HC Wainwright set a $4.00 price objective on BioLineRx and gave the company a “buy” rating in a research note on Saturday, June 3rd. Finally, Oppenheimer Holdings, Inc. initiated coverage on BioLineRx in a research note on Friday. They set an “outperform” rating and a $3.00 price objective for the company. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. BioLineRx has a consensus rating of “Buy” and an average target price of $2.59.
Shares of BioLineRx (NASDAQ BLRX) traded up 3.51% on Tuesday, reaching $1.18. 1,123,323 shares of the company were exchanged. The stock’s 50-day moving average is $0.91 and its 200 day moving average is $0.96. BioLineRx has a 12-month low of $0.79 and a 12-month high of $1.42. The firm’s market capitalization is $72.90 million.
BioLineRx (NASDAQ:BLRX) last issued its earnings results on Tuesday, August 8th. The biotechnology company reported ($0.05) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.05). On average, analysts forecast that BioLineRx will post ($0.25) EPS for the current year.
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Several hedge funds have recently added to or reduced their stakes in the stock. Sabby Management LLC bought a new stake in BioLineRx during the first quarter worth $3,018,000. KCG Holdings Inc. raised its stake in BioLineRx by 715.9% in the first quarter. KCG Holdings Inc. now owns 175,156 shares of the biotechnology company’s stock worth $168,000 after buying an additional 153,687 shares during the period. Renaissance Technologies LLC bought a new stake in BioLineRx during the first quarter worth $126,000. Benchmark Capital Advisors raised its stake in BioLineRx by 227.3% in the first quarter. Benchmark Capital Advisors now owns 144,000 shares of the biotechnology company’s stock worth $138,000 after buying an additional 100,000 shares during the period. Finally, Citadel Advisors LLC raised its stake in BioLineRx by 443.4% in the first quarter. Citadel Advisors LLC now owns 105,986 shares of the biotechnology company’s stock worth $102,000 after buying an additional 86,481 shares during the period. 34.91% of the stock is owned by hedge funds and other 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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