Company Update (NASDAQ:BLRX): Bioline RX Ltd to Present Positive Safety and Efficacy Clinical Data for Novel Stem Cell Mobilization Treatment at the European Hematology Annual Congress
Bioline RX Ltd (NASDAQ:BLRX), a clinical-stage biopharmaceutical company dedicated to identifying, in-licensing and developing promising therapeutic candidates, announced that positive safety and efficacy Phase 1 clinical data of its lead clinical candidate, BL-8040, as a novel approach for mobilization and collection of bone-marrow stem cells from the peripheral blood circulation, will be presented in an oral presentation at the 20th Annual Congress of the European Hematology Association (EHA) to be held June 11-14, 2015 in Vienna, Austria. Data to be presented include response rates and additional pharmacodynamic studies done on the collected cells. In addition, positive preclinical data from studies supporting BL-8040’s mechanism of action as a treatment for acute myeloid leukemia (AML) will be highlighted in a poster presentation. The molecular and cellular mechanisms by which BL-8040 affects AML cells will be presented. (Original Source)
Shares of Biolinerx closed yesterday at $1.95 . BLRX has a 1-year high of $3.28 and a 1-year low of $1.20. The stock’s 50-day moving average is $2.05 and its 200-day moving average is $1.90.
On the ratings front, Biolinerx has been the subject of a number of recent research reports. In a report issued on May 4, Roth Capital analyst Joseph Pantginis maintained a Buy rating on BLRX, with a price target of $10.50, which implies an upside of 438.5% from current levels. Separately, on the same day, Maxim Group’s Jason Kolbert reiterated a Buy rating on the stock and has a price target of $8.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Joseph Pantginis and Jason Kolbert have a total average return of 7.0% and 1.8% respectively. Pantginis has a success rate of 48.9% and is ranked #394 out of 3607 analysts, while Kolbert has a success rate of 44.1% and is ranked #1401.
Bioline Rx Ltd is a clinical stage biopharmaceutical development company engaged in identifying, in-licensing & developing therapeutic compounds.