Maxim Reiterates Buy On Biolinerx Following Successful Results Of Phase 1/2 Study For Novel Celiac Treatment
Maxim analyst Jason Kolbert reiterated a Buy rating on Biolinerx (NASDAQ:BLRX) with a price target of $7.00, as the company has completed its BL-7010 phase I/II study and found the compound to be well tolerated in all cohorts, which received single or repeat dosing.
Kolbert noted, “We value BioLineRx based on the expected royalty flow from the products in late-stage development. In view of the development risks, we apply both a 50% risk reduction in the therapeutic models in addition to a high-risk discount rate of 30% in our valuation (FCFF, EPS, and sum-of-the-parts) models. Using these metrics, we arrive at a $7.00 price target.”
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 4.5% and a 42.1% success rate. Kolbert has a -23.1% average return when recommending BLRX, and is ranked #805 out of 3365 analysts.