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

Analysts at StockNews.com started coverage on shares of BioLineRx (NASDAQ:BLRX) in a report issued on Thursday. The brokerage set a “hold” rating on the biotechnology company’s stock.

BioLineRx Stock Performance

BLRX opened at $0.43 on Thursday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.49 and a current ratio of 1.61. The company has a market cap of $34.06 million, a PE ratio of -0.95 and a beta of 1.46. The stock has a 50-day moving average of $0.55 and a 200-day moving average of $0.63. BioLineRx has a 52-week low of $0.39 and a 52-week high of $1.93.

BioLineRx (NASDAQ:BLRX) last announced its earnings results on Thursday, August 15th. The biotechnology company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.09. The company had revenue of $5.39 million for the quarter, compared to the consensus estimate of $3.93 million. As a group, equities research analysts forecast that BioLineRx will post -0.25 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. CVI Holdings LLC bought a new position in shares of BioLineRx in the second quarter worth about $462,000. PVG Asset Management Corp acquired a new stake in BioLineRx in the 2nd quarter valued at approximately $70,000. Finally, Atria Investments Inc increased its position in BioLineRx by 27.9% in the 3rd quarter. Atria Investments Inc now owns 133,974 shares of the biotechnology company’s stock worth $72,000 after buying an additional 29,193 shares during the period. Institutional investors and hedge funds own 1.56% of the company’s stock.

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.