StockNews.com Initiates Coverage on BioLineRx (NASDAQ:BLRX)

Research analysts at StockNews.com assumed coverage on shares of BioLineRx (NASDAQ:BLRX) in a note issued to investors on Saturday. The brokerage set a “hold” rating on the biotechnology company’s stock.

Separately, HC Wainwright reiterated a “buy” rating and issued a $21.00 price objective on shares of BioLineRx in a research report on Wednesday, November 6th.

BioLineRx Stock Up 3.8 %

Shares of NASDAQ:BLRX opened at $0.48 on Friday. BioLineRx has a fifty-two week low of $0.39 and a fifty-two week high of $1.93. The company has a quick ratio of 1.49, a current ratio of 1.61 and a debt-to-equity ratio of 1.34. The firm’s 50-day simple moving average is $0.51 and its 200-day simple moving average is $0.62. The company has a market cap of $38.02 million, a price-to-earnings ratio of -1.06 and a beta of 1.48.

BioLineRx (NASDAQ:BLRX) last released its earnings results on Thursday, August 15th. The biotechnology company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.09. The business had revenue of $5.39 million for the quarter, compared to analyst estimates of $3.93 million. As a group, equities research analysts predict that BioLineRx will post -0.03 earnings per share for the current year.

Institutional Investors Weigh In On BioLineRx

Hedge funds and other institutional investors have recently modified their holdings of the stock. CVI Holdings LLC acquired a new position in BioLineRx during the second quarter worth $462,000. PVG Asset Management Corp acquired a new position in BioLineRx during the second quarter worth about $70,000. Finally, Atria Investments Inc lifted its holdings in shares of BioLineRx by 27.9% in the third 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. 1.56% of the stock is currently owned by institutional investors and hedge funds.

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.