Bioline RX (BLRX) Sees Large Volume Increase

Bioline RX Ltd (NASDAQ:BLRX) shares saw strong trading volume on Thursday . 2,613,300 shares traded hands during mid-day trading, an increase of 119% from the previous session’s volume of 1,192,229 shares.The stock last traded at $1.19 and had previously closed at $1.11.

Several analysts recently issued reports on the stock. Oppenheimer assumed coverage on shares of Bioline RX in a research report on Thursday, December 21st. They issued a “buy” rating and a $3.00 price target for the company. HC Wainwright set a $4.00 price objective on Bioline RX and gave the company a “buy” rating in a research note on Thursday, December 21st. Maxim Group set a $3.00 price objective on Bioline RX and gave the company a “buy” rating in a research note on Monday, December 4th. ValuEngine upgraded Bioline RX from a “strong sell” rating to a “sell” rating in a research note on Thursday, November 30th. Finally, Zacks Investment Research cut Bioline RX from a “hold” rating to a “sell” rating in a research note on Monday, November 27th. Two research analysts have rated the stock with a sell rating and five have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $2.88.

The firm has a market cap of $126.53, a P/E ratio of -3.48 and a beta of 0.88.

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About Bioline RX

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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