BioLineRx (NASDAQ:BLRX) Stock Crosses Above 200 Day Moving Average After Earnings Miss

BioLineRx Ltd. (NASDAQ:BLRX)’s share price passed above its 200-day moving average during trading on Friday following a better than expected earnings announcement. The stock has a 200-day moving average of $3.73 and traded as high as $3.81. BioLineRx shares last traded at $3.71, with a volume of 19,288 shares changing hands.

The biotechnology company reported ($1.00) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.65). The business had revenue of $0.30 million during the quarter, compared to the consensus estimate of $0.66 million. BioLineRx had a negative net margin of 45.34% and a negative return on equity of 54.79%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on BLRX. Wall Street Zen raised shares of BioLineRx to a “sell” rating in a research report on Saturday, July 12th. Jones Trading raised shares of BioLineRx from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 30th. Finally, HC Wainwright reissued a “buy” rating on shares of BioLineRx in a research report on Tuesday, June 17th.

BioLineRx Price Performance

The company’s 50-day moving average is $4.41 and its two-hundred day moving average is $3.73. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.27 and a quick ratio of 2.04. The firm has a market cap of $15.80 million, a P/E ratio of -0.42 and a beta of 1.15.

About BioLineRx

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.