Maxim Group analyst Jason Kolbert reiterated a Buy rating on Biolinerx (NASDAQ:BLRX) with an $8.00 price target, as the company announced completion of the dose escalation phase of the phase I trial for BL-8040 as a standalone stem cell mobilizing agent.

Kolbert noted, “BL-8040 holds promise as both a Stem Cell Mobilizer and in AML. We also see additional value in related blood-based indications such as autoimmune blood disorders. Although in early development, these show promise.”

According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Jason Kolbert has a total average return of 4.4% and a 43.4% success rate. Kolbert has a 5.3% average return when recommending BLRX, and is ranked #743 out of 3429 analysts.