StockNews.com Initiates Coverage on BioLineRx (NASDAQ:BLRX)

StockNews.com assumed coverage on shares of BioLineRx (NASDAQ:BLRX) in a research note released on Tuesday. The brokerage issued a hold rating on the biotechnology company’s stock.

BioLineRx Stock Performance

BLRX stock opened at $0.46 on Tuesday. BioLineRx has a twelve month low of $0.43 and a twelve month high of $1.93. The business’s fifty day simple moving average is $0.62 and its two-hundred day simple moving average is $0.66. The firm has a market cap of $36.93 million, a price-to-earnings ratio of -0.61 and a beta of 1.46. The company has a quick ratio of 1.49, a current ratio of 1.61 and a debt-to-equity ratio of 1.34.

BioLineRx (NASDAQ:BLRX) last released its quarterly earnings data on Thursday, August 15th. The biotechnology company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.09. The business had revenue of $5.39 million during the quarter, compared to analysts’ expectations of $3.93 million. Analysts predict that BioLineRx will post -0.25 earnings per share for the current year.

Institutional Trading of BioLineRx

A hedge fund recently bought a new stake in BioLineRx stock. PVG Asset Management Corp acquired a new position in BioLineRx Ltd. (NASDAQ:BLRX) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 123,580 shares of the biotechnology company’s stock, valued at approximately $70,000. PVG Asset Management Corp owned 0.15% of BioLineRx at the end of the most recent reporting period. 1.56% of the stock is owned by hedge funds and other institutional investors.

BioLineRx Company Profile

BioLineRx Ltd., a commercial stage biopharmaceutical company, develops and commercializes therapeutics for oncology and rare diseases. The company's pipeline includes APHEXDA (motixafortide), a peptide that is in Phase 1 clinical trial for the treatment of sickle cell disease, and Phase 2b clinical trial for the treatment of pancreatic cancer, as well as completed Phase 3 clinical trial for the treatment of multiple myeloma.