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

BioLineRx (NASDAQ:BLRX) had its price objective lowered by investment analysts at HC Wainwright from $21.00 to $9.00 in a report released on Monday,Benzinga reports. The firm presently has a “buy” rating on the biotechnology company’s stock.

Separately, StockNews.com initiated coverage on shares of BioLineRx in a research note on Sunday. They set a “hold” rating on the stock.

BioLineRx Price Performance

BLRX stock opened at $0.28 on Monday. The firm has a fifty day moving average price of $0.48 and a two-hundred day moving average price of $0.61. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.61 and a quick ratio of 1.49. BioLineRx has a 1-year low of $0.25 and a 1-year high of $1.89. The firm has a market cap of $22.08 million, a price-to-earnings ratio of -0.61 and a beta of 1.48.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. PVG Asset Management Corp bought a new stake in BioLineRx in the second quarter valued at $70,000. Atria Investments Inc increased its holdings in shares of BioLineRx by 27.9% in the 3rd quarter. Atria Investments Inc now owns 133,974 shares of the biotechnology company’s stock worth $72,000 after acquiring an additional 29,193 shares during the period. Finally, CVI Holdings LLC acquired a new stake in shares of BioLineRx in the 2nd quarter worth about $462,000. 1.56% of the stock is currently owned by 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.