Roth Capital Raises Biolinerx Price Target Following Investor Event; Maintains Buy

In a research report issued today, Roth Capital analyst Joseph Pantginis maintained a Buy rating on Biolinerx (NASDAQ:BLRX) and raised his price target to $10.50 (from $8.00), which implies an upside of 477% from current levels. The report follows the company’s investors day, which took place last Friday in New York.

Pantginis commented: “Following BioLineRx’ investor day, we believe BL-8040 represents a “company onto itself” and believe it addressed two key factors of a KOL’s view of the needs for addressing AML, 1) the tumor microenvironment by recompartmentalizing AML blasts from bone marrow to periphery and 2) regulating apoptosis of AML cells. With an expanding clinical program and positive ASH data, we reiterate Buy and increasing price target.”

The analyst concluded, “We continue to be impressed with the depth of the pipeline opportunities at BLRX and believe that BL-8040 represents a “company onto itself”. We believe BL-8040 addressed at least two of the key factors for AML drug development, including 1) affecting the tumor microenvironment and 2) regulating apoptosis of tumor cells. With regard to the tumor microenvironment, the ASH 2014 data recently showed ‘8040’s ability to significantly re-compartmentalize AML blasts from the bone marrow to the periphery.”

According to, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Joseph Pantginis has a total average return of -1.6% and a 44.8% success rate. Pantginis has a 5.1% average return when recommending BLRX, and is ranked #2956 out of 3412 analysts.

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