In a report released today, Jason McCarthy from Maxim Group maintained a Buy rating on Biolinerx (BLRX), with a price target of $2. The company’s shares opened today at $0.75, close to its 52-week low of $0.67.
“BioLineRx reported 3Q18 with a net loss of ($6.2M) and ended the quarter with $35M in cash on the balance sheet. We estimate a runway to late 2019.”
According to TipRanks.com, McCarthy is a 4-star analyst with an average return of 6.4% and a 41.8% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as SELLAS Life Sciences Group Inc, ContraVir Pharmaceuticals Inc, and Sonoma Pharmaceuticals Inc.
Currently, the analyst consensus on Biolinerx is a Strong Buy with an average price target of $3.
Based on Biolinerx’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $4.68 million. In comparison, last year the company had a GAAP net loss of $7.47 million.
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BioLineRx Ltd. is a clinical-stage biopharmaceutical company, which includes indentifying, in-licensing, and developing therapeutic candidates. Its in-licenses novel compounds, primarily from academic institutions and biotech companies based in Israel, and develops them through pre-clinical and clinical stages, and then partners with pharmaceutical companies clinical development and commercialization. The company was founded in April 2003 and is headquartered in Modi’in, Israel.
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