BioLineRx Ltd. (NASDAQ:BLRX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday. The brokerage currently has a $1.25 price target on the biotechnology company’s stock. Zacks Investment Research‘s price target suggests a potential upside of 4.17% from the stock’s previous close.

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 analysts have also recently weighed in on the company. Maxim Group set a $3.00 target price on BioLineRx and gave the company a “buy” rating in a research note on Monday, July 10th. HC Wainwright set a $4.00 price target on shares of BioLineRx and gave the stock a “buy” rating in a research report on Wednesday, August 9th. Roth Capital set a $3.00 price target on shares of BioLineRx and gave the stock a “buy” rating in a research report on Wednesday, August 9th. Oppenheimer Holdings Inc. reiterated a “buy” rating and issued a $3.00 price target on shares of BioLineRx in a research report on Tuesday, September 12th. Finally, ValuEngine raised shares of BioLineRx from a “sell” rating to a “hold” rating in a report on Monday, July 17th. One equities research analyst has rated the stock with a sell rating and six have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $2.88.

Shares of BioLineRx (NASDAQ BLRX) traded up 4.35% on Tuesday, hitting $1.20. The stock had a trading volume of 398,213 shares. The company’s 50-day moving average price is $1.09 and its 200 day moving average price is $0.96. The firm’s market cap is $114.74 million. BioLineRx has a 12-month low of $0.80 and a 12-month high of $1.42.

BioLineRx (NASDAQ:BLRX) last issued its quarterly earnings results on Tuesday, August 8th. The biotechnology company reported ($0.05) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.05). On average, equities research analysts forecast that BioLineRx will post ($0.24) earnings per share for the current fiscal year.

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Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sabby Management LLC acquired a new stake in shares of BioLineRx during the first quarter worth $3,018,000. KCG Holdings Inc. boosted its position in shares of 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 purchasing an additional 153,687 shares during the period. Renaissance Technologies LLC acquired a new position in shares of BioLineRx in the 1st quarter valued at $126,000. Finally, Citadel Advisors LLC boosted its position in shares of 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 purchasing an additional 86,481 shares during the period. 32.27% of the stock is owned by institutional investors and hedge funds.

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.

Analyst Recommendations for BioLineRx (NASDAQ:BLRX)

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