StockNews.com initiated coverage on shares of BioLineRx (NASDAQ:BLRX – Free Report) in a research note published on Sunday. The firm issued a hold rating on the biotechnology company’s stock.
Separately, HC Wainwright reduced their target price on BioLineRx from $21.00 to $9.00 and set a “buy” rating for the company in a report on Monday, November 25th.
Check Out Our Latest Analysis on BLRX
BioLineRx Trading Up 3.4 %
BioLineRx’s stock is going to reverse split before the market opens on Thursday, January 30th. The 1-40 reverse split was announced on Friday, January 17th. The number of shares owned by shareholders will be adjusted after the market closes on Wednesday, January 29th.
BioLineRx (NASDAQ:BLRX – Get Free Report) last issued its earnings results on Monday, November 25th. The biotechnology company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.01. BioLineRx had a negative return on equity of 163.37% and a negative net margin of 90.57%. As a group, equities research analysts anticipate that BioLineRx will post -0.15 earnings per share for the current year.
Hedge Funds Weigh In On BioLineRx
Large investors have recently made changes to their positions in the stock. PVG Asset Management Corp purchased a new position in shares of BioLineRx in the 2nd quarter valued at about $70,000. Atria Investments Inc increased its holdings in shares of BioLineRx by 27.9% in the 3rd quarter. Atria Investments Inc now owns 133,974 shares of the biotechnology company’s stock valued at $72,000 after purchasing an additional 29,193 shares in the last quarter. Finally, CVI Holdings LLC purchased a new position in shares of BioLineRx in the 2nd quarter valued at about $462,000. Hedge funds and other institutional investors own 1.56% of the company’s stock.
BioLineRx Company Profile
BioLineRx Ltd., a commercial stage biopharmaceutical company, develops and commercializes therapeutics for oncology and rare diseases. The company's pipeline includes APHEXDA (motixafortide), a peptide that is in Phase 1 clinical trial for the treatment of sickle cell disease, and Phase 2b clinical trial for the treatment of pancreatic cancer, as well as completed Phase 3 clinical trial for the treatment of multiple myeloma.
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