BioLineRx Ltd. (BLRX) Lifted 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 report released 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. “
Other research analysts have also recently issued reports about the company. ValuEngine raised BioLineRx from a “sell” rating to a “hold” rating in a research note on Monday, July 17th. Roth Capital assumed coverage on BioLineRx in a research note on Thursday, August 3rd. They set a “buy” rating and a $3.00 target price for the company. Maxim Group set a $3.00 target price on BioLineRx and gave the stock a “buy” rating in a research note on Tuesday, August 8th. HC Wainwright set a $4.00 target price on BioLineRx and gave the stock a “buy” rating in a research note on Saturday, June 3rd. Finally, Oppenheimer Holdings, Inc. assumed coverage on BioLineRx in a research note on Friday, August 4th. They set an “outperform” rating and a $3.00 target price for the company. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company’s stock. BioLineRx currently has an average rating of “Buy” and an average target price of $2.59.
BioLineRx (NASDAQ:BLRX) last posted its quarterly earnings data on Tuesday, August 8th. The biotechnology company reported ($0.05) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.05).
Several large investors have recently added to or reduced their stakes in BLRX. Citadel Advisors LLC boosted its position in shares of BioLineRx by 443.4% during the 1st quarter. Citadel Advisors LLC now owns 105,986 shares of the biotechnology company’s stock worth $102,000 after acquiring an additional 86,481 shares in the last quarter. Renaissance Technologies LLC acquired a new position in shares of BioLineRx during the 1st quarter worth about $126,000. KCG Holdings Inc. boosted its position in shares of BioLineRx by 715.9% during the 1st quarter. KCG Holdings Inc. now owns 175,156 shares of the biotechnology company’s stock worth $168,000 after acquiring an additional 153,687 shares in the last quarter. Finally, Sabby Management LLC acquired a new position in shares of BioLineRx during the 1st quarter worth about $3,018,000. 32.27% of the stock is owned by institutional investors and hedge funds.
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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