BioLineRx (NASDAQ:BLRX) Given New $9.00 Price Target at HC Wainwright

BioLineRx (NASDAQ:BLRX) had its price target reduced by HC Wainwright from $21.00 to $9.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the biotechnology company’s stock.

Separately, StockNews.com assumed coverage on BioLineRx in a research report on Sunday. They issued a “hold” rating for the company.

BioLineRx Price Performance

Shares of BLRX traded down $0.01 during mid-day trading on Monday, hitting $0.26. The company’s stock had a trading volume of 5,032,159 shares, compared to its average volume of 442,809. The firm has a 50-day simple moving average of $0.49 and a 200 day simple moving average of $0.61. The firm has a market capitalization of $21.12 million, a P/E ratio of -0.62 and a beta of 1.48. BioLineRx has a 1-year low of $0.25 and a 1-year high of $1.89. The company has a current ratio of 1.61, a quick ratio of 1.49 and a debt-to-equity ratio of 1.34.

Institutional Investors Weigh In On BioLineRx

A number of institutional investors have recently added to or reduced their stakes in BLRX. PVG Asset Management Corp acquired a new position in shares of BioLineRx during the second quarter worth about $70,000. Atria Investments Inc lifted its stake in shares of BioLineRx by 27.9% during the third quarter. Atria Investments Inc now owns 133,974 shares of the biotechnology company’s stock worth $72,000 after purchasing an additional 29,193 shares in the last quarter. Finally, CVI Holdings LLC acquired a new position in shares of BioLineRx in the second quarter worth about $462,000. Hedge funds and other institutional investors own 1.56% of the company’s stock.

About BioLineRx

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.