H.C. Wainwright analyst Joseph Pantginis reiterated a Buy rating on Biolinerx (BLRX – Research Report) today and set a price target of $3. The company’s shares opened today at $0.42, close to its 52-week low of $0.38.
“Valuation and risks to price target achievement. We reiterate our Buy rating but are lowering our price target to $3 from $4 based on adjustments to fully diluted share count and adjustment to base year. Our valuation is based on our clinical net present value (NPV) model, which is currently driven by the company’s lead asset, BL-8040. This model allows us to flex multiple assumptions affecting a drug’s potential commercial profile.”
According to TipRanks.com, Pantginis has 0 stars on 0-5 star ranking scale with an average return of -15.6% and a 27.7% success rate. Pantginis covers the Healthcare sector, focusing on stocks such as Applied Genetic Technologies, Checkpoint Therapeutics Inc, and Iovance Biotherapeutics Inc.
Biolinerx has an analyst consensus of Moderate Buy, with a price target consensus of $3, which is a 614.3% upside from current levels. In a report issued on March 19, Oppenheimer also assigned a Buy rating to the stock.
The company has a one-year high of $1.84 and a one-year low of $0.38. Currently, Biolinerx has an average volume of 1.38M.
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BioLineRx Ltd. is a clinical-stage biopharmaceutical company, which includes indentifying, in-licensing, and developing therapeutic candidates. Its in-licenses novel compounds, primarily from academic institutions and biotech companies based in Israel, and develops them through pre-clinical and clinical stages, and then partners with pharmaceutical companies clinical development and commercialization. The company was founded in April 2003 and is headquartered in Modi’in, Israel.