Zacks Investment Research upgraded shares of BioLineRx Ltd. (NASDAQ:BLRX) from a sell rating to a hold rating in a research note published on Wednesday.

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 analysts have also recently issued research reports about the company. HC Wainwright set a $4.00 target price on BioLineRx and gave the stock a buy rating in a report on Saturday, June 3rd. Maxim Group upgraded BioLineRx from a hold rating to a buy rating and increased their target price for the stock from $1.00 to $3.00 in a report on Thursday, May 18th. Finally, ValuEngine upgraded BioLineRx from a sell rating to a hold rating in a report on Monday, July 17th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of Buy and an average price target of $3.18.

Shares of BioLineRx (BLRX) opened at 0.993 on Wednesday. The firm has a 50-day moving average of $0.88 and a 200 day moving average of $0.96. The stock’s market capitalization is $61.35 million. BioLineRx has a one year low of $0.75 and a one year high of $1.42.

BioLineRx (NASDAQ:BLRX) last announced its earnings results on Thursday, May 25th. The biotechnology company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.05) by $0.03. On average, equities research analysts predict that BioLineRx will post ($0.24) EPS for the current year.

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Several institutional investors have recently modified their holdings of BLRX. Sabby Management LLC purchased a new position in shares of BioLineRx during the first quarter valued at about $3,018,000. KCG Holdings Inc. raised 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 valued at $168,000 after buying an additional 153,687 shares during the period. Renaissance Technologies LLC purchased a new position in shares of BioLineRx during the first quarter valued at about $126,000. Citadel Advisors LLC raised 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 valued at $102,000 after buying an additional 86,481 shares during the period. Finally, Benchmark Capital Advisors raised 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 valued at $138,000 after buying an additional 100,000 shares during the period. 38.00% of the stock is currently 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.

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