Bioline RX (NASDAQ:BLRX) has been assigned a $4.00 target price by analysts at HC Wainwright in a research report issued on Monday. The firm currently has a “buy” rating on the biotechnology company’s stock. HC Wainwright’s price objective suggests a potential upside of 253.98% from the company’s current price.
The analysts wrote, “AML Needle Continues to Point in Right Direction; Reiterate Buy Responses appear to impact survival in relapsed or refractory setting. This morning, BioLineRx announced long-term follow-up data from the BL-8040 Phase 2a in relapsed or refractory AML. Recall that in March 2016, topline results (n=42) were presented showing an overall response rate (CR+CRi) of 38%, which compared favorably to a historical control of approximately 20% (HiDAC alone). With longer observation in hand, the company is highlighting data from 16 patients in the expansion phase of the study: 1) median follow-up time of 338 days (29-853 days); 2) median overall survival of 11.1 months; and 3) estimated one- and two-year survival rates of 37.5% and 28.5%, respectively. While these patient numbers continue to be small, they continue to compare favorably with the expected overall survival of 6.1 months for HiDAC.””
Several other brokerages have also commented on BLRX. Zacks Investment Research upgraded shares of Bioline RX from a “hold” rating to a “buy” rating and set a $1.25 price objective on the stock in a report on Tuesday, October 3rd. Roth Capital set a $3.00 price objective on shares of Bioline RX and gave the stock a “buy” rating in a report on Wednesday, August 9th. Maxim Group set a $3.00 price objective on shares of Bioline RX and gave the stock a “buy” rating in a report on Tuesday, August 8th. Oppenheimer set a $3.00 price objective on shares of Bioline RX and gave the stock a “buy” rating in a report on Wednesday, October 18th. Finally, ValuEngine upgraded shares of Bioline RX from a “strong sell” rating to a “sell” rating in a report on Thursday. Two equities research analysts have rated the stock with a sell rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $2.88.
An institutional investor recently bought a new position in Bioline RX stock. Renaissance Technologies LLC acquired a new position in Bioline RX Ltd (NASDAQ:BLRX) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 131,480 shares of the biotechnology company’s stock, valued at approximately $126,000. Renaissance Technologies LLC owned about 0.21% of Bioline RX as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 37.21% of the company’s stock.
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Bioline RX 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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