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 $11.00. The company’s shares closed last Wednesday at $2.94.
According to TipRanks.com, Breidenbach is a 5-star analyst with an average return of 20.5% and a 47.4% success rate. Breidenbach covers the Healthcare sector, focusing on stocks such as Global Blood Therapeutics, Iovance Biotherapeutics, and Arvinas Holding Company.
Currently, the analyst consensus on Biolinerx is a Strong Buy with an average price target of $12.67, representing a 354.1% upside. In a report released today, H.C. Wainwright also reiterated a Buy rating on the stock with a $22.00 price target.
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Based on Biolinerx’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $4.62 million. In comparison, last year the company had a GAAP net loss of $3.94 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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