HC Wainwright Forecasts Strong Price Appreciation for BioLineRx (NASDAQ:BLRX) Stock

BioLineRx (NASDAQ:BLRX) had its price objective raised by equities research analysts at HC Wainwright from $9.00 to $26.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the biotechnology company’s stock.

Separately, StockNews.com lowered shares of BioLineRx from a “hold” rating to a “sell” rating in a report on Tuesday, March 18th.

BioLineRx Stock Performance

Shares of BLRX stock traded down $0.03 on Monday, hitting $3.03. The company had a trading volume of 34,784 shares, compared to its average volume of 65,179. BioLineRx has a twelve month low of $2.88 and a twelve month high of $44.00. The company has a quick ratio of 1.37, a current ratio of 1.52 and a debt-to-equity ratio of 2.11. The firm has a market cap of $10.07 million, a P/E ratio of -0.34 and a beta of 1.39. The company has a 50-day moving average price of $3.55 and a 200-day moving average price of $10.93.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in BioLineRx stock. Highbridge Capital Management LLC acquired a new position in shares of BioLineRx Ltd. (NASDAQ:BLRX) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,010,012 shares of the biotechnology company’s stock, valued at approximately $215,000. Highbridge Capital Management LLC owned about 50.50% of BioLineRx as of its most recent filing with the Securities & Exchange Commission. 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.