BioLineRx Ltd. (NASDAQ:BLRX) Announces Earnings Results
BioLineRx Ltd. (NASDAQ:BLRX) posted its earnings results on Tuesday. The biotechnology company reported ($0.05) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.05), MarketWatch Earnings reports.
Shares of BioLineRx (BLRX) traded up 2.63% during mid-day trading on Tuesday, hitting $1.17. The stock had a trading volume of 421,397 shares. The stock’s 50-day moving average is $0.90 and its 200 day moving average is $0.96. The firm’s market cap is $72.28 million. BioLineRx has a 12 month low of $0.75 and a 12 month high of $1.42.
A number of analysts have weighed in on BLRX shares. HC Wainwright set a $4.00 target price on BioLineRx and gave the stock a “buy” rating in a report on Tuesday, April 18th. Zacks Investment Research lowered BioLineRx from a “buy” rating to a “sell” rating in a report on Tuesday, June 20th. Maxim Group upgraded BioLineRx from a “hold” rating to a “buy” rating and upped their target price for the stock from $1.00 to $3.00 in a report on Thursday, May 18th. ValuEngine upgraded BioLineRx from a “sell” rating to a “hold” rating in a report on Monday, July 17th. Finally, Oppenheimer Holdings, Inc. started coverage on BioLineRx in a report on Friday. They set an “outperform” rating and a $3.00 target price for the company. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $2.59.
Several institutional investors have recently bought and sold shares of BLRX. Citadel Advisors LLC increased its position 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 worth $102,000 after buying an additional 86,481 shares during the last quarter. Renaissance Technologies LLC purchased a new position in shares of BioLineRx during the first quarter worth approximately $126,000. Benchmark Capital Advisors increased its position 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 worth $138,000 after buying an additional 100,000 shares during the last quarter. KCG Holdings Inc. increased its position 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 worth $168,000 after buying an additional 153,687 shares during the last quarter. Finally, Sabby Management LLC purchased a new position in shares of BioLineRx during the first quarter worth approximately $3,018,000. Institutional investors and hedge funds own 34.91% of the company’s stock.
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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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