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

Research analysts at StockNews.com initiated coverage on shares of BioLineRx (NASDAQ:BLRX) in a report issued on Wednesday. The firm set a “hold” rating on the biotechnology company’s stock.

BioLineRx Stock Performance

BLRX stock opened at $0.40 on Wednesday. The company has a market capitalization of $31.98 million, a P/E ratio of -0.53 and a beta of 1.46. The company has a 50-day simple moving average of $0.59 and a 200 day simple moving average of $0.65. BioLineRx has a fifty-two week low of $0.39 and a fifty-two week high of $1.93. 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 (NASDAQ:BLRX) last posted its quarterly earnings data on Thursday, August 15th. The biotechnology company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.09. The company had revenue of $5.39 million during the quarter, compared to analyst estimates of $3.93 million. Sell-side analysts predict that BioLineRx will post -0.25 earnings per share for the current fiscal year.

Institutional Investors Weigh In On BioLineRx

A hedge fund recently bought a new stake in BioLineRx stock. PVG Asset Management Corp purchased a new stake in BioLineRx Ltd. (NASDAQ:BLRX) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 123,580 shares of the biotechnology company’s stock, valued at approximately $70,000. PVG Asset Management Corp owned about 0.15% of BioLineRx at the end of the most recent quarter. Institutional investors and hedge funds 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.