HC Wainwright Lowers BioLineRx (NASDAQ:BLRX) Price Target to $9.00

BioLineRx (NASDAQ:BLRX) had its target price cut by HC Wainwright from $21.00 to $9.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the biotechnology company’s stock.

Separately, StockNews.com began coverage on BioLineRx in a research note on Sunday. They set a “hold” rating for the company.

BioLineRx Price Performance

Shares of BLRX stock opened at $0.28 on Monday. The firm has a fifty day simple moving average of $0.48 and a 200-day simple moving average of $0.61. The company has a market capitalization of $22.08 million, a PE ratio of -0.61 and a beta of 1.48. BioLineRx has a twelve month low of $0.25 and a twelve month high of $1.89. The company has a current ratio of 1.61, a quick ratio of 1.49 and a debt-to-equity ratio of 1.34.

Hedge Funds Weigh In On BioLineRx

A number of institutional investors have recently made changes to their positions in the business. PVG Asset Management Corp acquired a new stake in shares of BioLineRx during the second quarter worth approximately $70,000. Atria Investments Inc lifted its position in shares of BioLineRx by 27.9% during the third quarter. Atria Investments Inc now owns 133,974 shares of the biotechnology company’s stock worth $72,000 after purchasing an additional 29,193 shares during the last quarter. Finally, CVI Holdings LLC acquired a new position in BioLineRx in the second quarter worth about $462,000. 1.56% of the stock is 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.