Biolinerx Receives a Buy from Maxim Group


In a report released today, Jason McCarthy from Maxim Group maintained a Buy rating on Biolinerx (NASDAQ: BLRX), with a price target of $2. The company’s shares opened today at $1.04.

McCarthy wrote:

“BioLineRx presented long-term follow-up data for BL-8040 from its Ph2a study in relapsed/refractory acute myeloid leukemia (AML) at the European Hematology Association (EHA) meeting.”

According to TipRanks.com, McCarthy is a 4-star analyst with an average return of 11.4% and a 44.3% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as IntelliPharmaCeutics International, SELLAS Life Sciences Group Inc, and ContraVir Pharmaceuticals Inc.

Currently, the analyst consensus on Biolinerx is Strong Buy and the average price target is $3, representing a 188.5% upside.

In a report released today, H.C. Wainwright also reiterated a Buy rating on the stock with a $4 price target.

See today’s analyst top recommended stocks >>

Based on Biolinerx’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $6.31 million. In comparison, last year the company had a GAAP net loss of $5.01 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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