Roth Capital Reiterates Buy On Biolinerx Following Initiation Of BL-8040 Phase I Study
In a research report issued yesterday, Roth Capital analyst Joseph Pantginis reiterated a Buy rating on Biolinerx (NASDAQ:BLRX) with a price target of $8.00.
Pantginis noted, “The initiation of this new study is a promising addition to the current BL-8040 profile. Given that this is a study done on healthy volunteers and requires up to two injections and a short period of followup for safety evaluation as well as SC collection, results are expected soon, providing a quick determination of BL-8040’s potential as a SC mobilizer. This study is based on data from a previous Phase I/II study in multiple myeloma where BL-8040 in combination with G-CSF brought about a significant mobilization of SCs from the bone marrow into peripheral blood. While BLRX is assessing BL-8040 as a singleagent mobilizer in this study, it may have an enhanced effect in combination with G-CSF as mentioned above. G-CSF is administered as part of treatment regimens for SC collection prior to transplants. This new direction for BL-8040 can potentially expand its profile with an additional widely used application of SC harvesting for treatment of various hematological indications.”
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 -5.3% and a 43.9% success rate. Pantginis has a -9.2% average return when recommending BLRX, and is ranked #3197 out of 3255 analysts.