Zacks Investment Research upgraded shares of BioLineRx Ltd. (NASDAQ:BLRX) 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. “
Several other research firms also recently issued reports on BLRX. HC Wainwright set a $4.00 price target on BioLineRx and gave the company a buy rating in a research note on Wednesday, August 9th. Roth Capital set a $3.00 price target on BioLineRx and gave the company a buy rating in a research note on Wednesday, August 9th. Maxim Group set a $3.00 price target on BioLineRx and gave the company a buy rating in a research note on Tuesday, August 8th. Oppenheimer Holdings, Inc. assumed coverage on BioLineRx in a research note on Friday, August 4th. They issued an outperform rating and a $3.00 price target for the company. Finally, ValuEngine downgraded BioLineRx from a hold rating to a sell rating in a research note on Thursday, August 24th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of Buy and an average price target of $2.83.
BioLineRx (NASDAQ:BLRX) opened at 1.11 on Thursday. The company has a 50 day moving average price of $1.08 and a 200-day moving average price of $0.96. BioLineRx has a 52 week low of $0.80 and a 52 week high of $1.42. The firm’s market capitalization is $106.13 million.
BioLineRx (NASDAQ:BLRX) last released its quarterly earnings results 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). Equities analysts predict that BioLineRx will post ($0.24) earnings per share for the current year.
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Hedge funds and other institutional investors have recently made changes to their positions in the business. Sabby Management LLC acquired a new position in BioLineRx in the 1st quarter valued at $3,018,000. KCG Holdings Inc. raised its holdings in BioLineRx by 715.9% in the 1st quarter. KCG Holdings Inc. now owns 175,156 shares of the biotechnology company’s stock valued at $168,000 after acquiring an additional 153,687 shares in the last quarter. Citadel Advisors LLC raised its holdings in BioLineRx by 443.4% in the 1st quarter. Citadel Advisors LLC now owns 105,986 shares of the biotechnology company’s stock valued at $102,000 after acquiring an additional 86,481 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new position in BioLineRx in the 1st quarter valued at $126,000. 32.27% 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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