After Maxim Group and H.C. Wainwright gave Biolinerx (NASDAQ: BLRX) a Buy rating last month, the company received another Buy, this time from Oppenheimer. Analyst Mark Breidenbach maintained a Buy rating on Biolinerx today and set a price target of $3. The company’s shares closed on Friday at $1.01.
Breidenbach observed:
“Association (EHA) congress, BioLineRx presented new data from two clinical studies evaluating BL-8040 in r/r AML and as a hematopoietic stem cell mobilizer for allogeneic transplants. Although BioLineRx is not currently developing its CXCR4 antagonist in either setting, we believe the EHA updates underscore BL-8040’s synergy with chemotherapy in AML patients and point to a future expansion into the allogeneic transplant market, assuming the drug is approved for use in autologous transplants (the focus of the company’s ongoing Phase 3 GENESIS trial). In parallel with GENESIS, BL-8040 is being evaluated in combination with chemotherapy and checkpoint inhibitors in a variety of cancers, with several readouts expected in 2H18. Reiterate Outperform rating and $3 PT.”
According to TipRanks.com, Breidenbach is a 4-star analyst with an average return of 15.9% and a 47.3% success rate. Breidenbach covers the Healthcare sector, focusing on stocks such as Iovance Biotherapeutics Inc, Global Blood Therapeutics, and Sorrento Therapeutics.
Biolinerx has an analyst consensus of Strong Buy, with a price target consensus of $3.
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The company has a one-year high of $1.34 and a one-year low of $0.78. Currently, Biolinerx has an average volume of 344.3K.
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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.
