In a research report issued June 22, Roth Capital analyst Joseph Pantginis reiterated a Buy rating on Bioline RX Ltd (NASDAQ:BLRX) with a price target of $10.50, which represents a potential upside of 343% from where the stock is currently trading. The report comes after the company’s partner Bellerophon Therapeutics Inc (NASDAQ:BLPH) presented preclinical data from a study in a pig model of acute myocardial infarction (AMI) at the World Congress on Acute Heart Failure.
Pantginis wrote, “While we generally do not write about preclinical data, we believe this preclinical study is important in light of the expected upcoming PRESERVATION-1 topline data release. While no animal model can fully recreate the human cardiovascular disease setting, porcine models serve as a good proxy for such conditions and provide valuable data regarding potential outcomes in humans. Importantly, the same clinical endpoints are used in the two species. We believe that the combined preclinical and Phase I/II clinical data provide strong support for the therapeutic potential of BL-1040 in AMI.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Joseph Pantginis has a total average return of 10.9% and a 53.2% success rate. Pantginis has a 22.8% average return when recommending BLRX, and is ranked #168 out of 3640 analysts.