Ambit Acquisition Bodes Well For Biolinerx, Says Roth Capital
In a research report released Monday, Roth Capital analyst Joseph Pantginis reiterated a Buy rating on Biolinerx (NASDAQ:BLRX) with an $8 price target. The report follows the recent news that Daiichi Sankyo is planning to acquire Ambit Biosciences (NASDAQ:AMBI) for $410M.
Pantginis noted, “We are encouraged by the favorable terms secured by Ambit and we see this as a positive for BLRX following preclinical data earlier this month showing that BL-8040 was highly synergistic with AMBI’s quizartinib in treating AML in FLT3-mutated mice. Significant catalysts are expected for BLRX going into the end of 2014 and early 2015.”
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 -8.7% and a 31.9% success rate. Pantginis has a -15.2% average return when recommending BLRX, and is ranked #3295 out of 3309 analysts.