HC Wainwright Issues Pessimistic Forecast for BioLineRx (NASDAQ:BLRX) Stock Price

BioLineRx (NASDAQ:BLRX) had its price target decreased by HC Wainwright from $21.00 to $9.00 in a research note released on Monday morning,Benzinga reports. HC Wainwright currently has a buy rating on the biotechnology company’s stock.

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

BioLineRx Trading Up 3.9 %

Shares of NASDAQ:BLRX opened at $0.29 on Monday. The company’s 50-day moving average price is $0.48 and its 200 day moving average price is $0.61. The company has a market cap of $22.94 million, a PE ratio of -1.27 and a beta of 1.48. The company has a quick ratio of 1.49, a current ratio of 1.61 and a debt-to-equity ratio of 1.34. BioLineRx has a fifty-two week low of $0.25 and a fifty-two week high of $1.89.

Institutional Investors Weigh In On BioLineRx

Several hedge funds have recently made changes to their positions in the stock. CVI Holdings LLC acquired a new position in BioLineRx in the second quarter valued at about $462,000. Atria Investments Inc grew 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 worth $72,000 after buying an additional 29,193 shares during the period. Finally, PVG Asset Management Corp bought a new stake in BioLineRx in the second quarter valued at about $70,000. 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.