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

Equities researchers at StockNews.com assumed coverage on shares of BioLineRx (NASDAQ:BLRX) in a research note issued on Wednesday. The brokerage set a “hold” rating on the biotechnology company’s stock.

Separately, HC Wainwright cut their price objective on BioLineRx from $21.00 to $9.00 and set a “buy” rating on the stock in a research note on Monday, November 25th.

BioLineRx Stock Up 3.5 %

Shares of BLRX opened at $0.20 on Wednesday. The stock’s 50-day moving average price is $0.37 and its two-hundred day moving average price is $0.56. BioLineRx has a 12 month low of $0.19 and a 12 month high of $1.70. The company has a market capitalization of $16.15 million, a PE ratio of -0.92 and a beta of 1.39. The company has a current ratio of 1.52, a quick ratio of 1.37 and a debt-to-equity ratio of 2.11.

Hedge Funds Weigh In On BioLineRx

A number of hedge funds have recently bought and sold shares of BLRX. PVG Asset Management Corp acquired a new stake in BioLineRx during the 2nd quarter worth about $70,000. Atria Investments Inc boosted its position in shares of BioLineRx by 27.9% during the 3rd 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. Finally, CVI Holdings LLC acquired a new stake in BioLineRx during the second quarter worth approximately $462,000. Institutional investors 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.