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 Monday. The brokerage set a “hold” rating on the biotechnology company’s stock.

Separately, HC Wainwright decreased their price objective on shares of BioLineRx from $21.00 to $9.00 and set a “buy” rating for the company in a report on Monday, November 25th.

BioLineRx Stock Performance

NASDAQ BLRX opened at $0.11 on Monday. The company has a fifty day moving average price of $0.21 and a 200-day moving average price of $0.47. The firm has a market cap of $8.74 million, a price-to-earnings ratio of -0.50 and a beta of 1.46. The company has a debt-to-equity ratio of 2.11, a current ratio of 1.52 and a quick ratio of 1.37. BioLineRx has a 1 year low of $0.08 and a 1 year high of $1.44.

BioLineRx shares are set 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) last posted its quarterly earnings data on Monday, November 25th. The biotechnology company reported ($0.07) earnings per share for the quarter, topping the consensus estimate 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 predict that BioLineRx will post -0.15 EPS for the current fiscal year.

Hedge Funds Weigh In On BioLineRx

An institutional investor recently bought a new position in BioLineRx stock. PVG Asset Management Corp bought a new position in shares of BioLineRx Ltd. (NASDAQ:BLRX) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 123,580 shares of the biotechnology company’s stock, valued at approximately $70,000. PVG Asset Management Corp owned 0.15% of BioLineRx as of its most recent SEC filing. Institutional investors and hedge funds own 1.56% of the company’s stock.

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.