BioLineRx (NASDAQ:BLRX) Coverage Initiated at StockNews.com

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

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

BioLineRx Stock Performance

Shares of NASDAQ:BLRX opened at $0.10 on Friday. The business has a 50-day moving average of $0.25 and a two-hundred day moving average of $0.49. The firm has a market capitalization of $8.11 million, a PE ratio of -0.46 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 12 month low of $0.08 and a 12 month high of $1.44.

Shares of BioLineRx 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 closing bell on Wednesday, January 29th.

Institutional Investors Weigh In On BioLineRx

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

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.