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 note issued to investors on Thursday.
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 issued reports on BLRX. Roth Capital set a $3.00 target price on BioLineRx and gave the stock a “buy” rating in a report on Wednesday, August 9th. Maxim Group set a $3.00 target price on BioLineRx and gave the stock a “buy” rating in a report on Tuesday, August 8th. HC Wainwright set a $4.00 target price on BioLineRx and gave the stock a “buy” rating in a report on Saturday, June 3rd. ValuEngine lowered BioLineRx from a “hold” rating to a “sell” rating in a report on Thursday, August 24th. Finally, Oppenheimer Holdings, Inc. assumed coverage on BioLineRx in a report on Friday, August 4th. They set an “outperform” rating and a $3.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $2.59.
Shares of BioLineRx (BLRX) traded down 0.94% during midday trading on Thursday, reaching $1.05. 953,836 shares of the company were exchanged. BioLineRx has a 52-week low of $0.80 and a 52-week high of $1.42. The company’s market capitalization is $100.40 million. The firm’s 50 day moving average is $1.06 and its 200-day moving average is $0.97.
BioLineRx (NASDAQ:BLRX) last released its earnings results on Tuesday, August 8th. The biotechnology company reported ($0.05) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.05). On average, equities analysts forecast that BioLineRx will post ($0.24) earnings per share for the current fiscal year.
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Institutional investors and hedge funds have recently modified their holdings of the stock. Sabby Management LLC purchased a new position in BioLineRx in the 1st quarter worth about $3,018,000. KCG Holdings Inc. increased its stake in BioLineRx by 715.9% in the 1st quarter. KCG Holdings Inc. now owns 175,156 shares of the biotechnology company’s stock worth $168,000 after purchasing an additional 153,687 shares in the last quarter. Citadel Advisors LLC increased its stake in BioLineRx by 443.4% in the 1st quarter. Citadel Advisors LLC now owns 105,986 shares of the biotechnology company’s stock worth $102,000 after purchasing an additional 86,481 shares in the last quarter. Benchmark Capital Advisors increased its stake in BioLineRx by 227.3% in the 1st quarter. Benchmark Capital Advisors now owns 144,000 shares of the biotechnology company’s stock worth $138,000 after purchasing an additional 100,000 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new position in BioLineRx in the 1st quarter worth about $126,000. 32.27% of the stock is currently owned by hedge funds and other 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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