BioLineRx Ltd. (BLRX) Shares Down 2.9%

BioLineRx Ltd. (NASDAQ:BLRX) shares fell 2.9% on Tuesday . The stock traded as low as $0.91 and last traded at $1.01. 417,500 shares traded hands during mid-day trading, a decline of 12% from the average session volume of 476,881 shares. The stock had previously closed at $1.04.

Several research firms have recently weighed in on BLRX. Zacks Investment Research raised shares of BioLineRx from a “hold” rating to a “buy” rating and set a $1.25 price target on the stock in a report on Tuesday, October 3rd. HC Wainwright set a $4.00 price target on shares of BioLineRx and gave the stock a “buy” rating in a report on Wednesday, August 9th. Roth Capital set a $3.00 price target on shares of BioLineRx and gave the stock a “buy” rating in a report on Wednesday, August 9th. Maxim Group set a $3.00 price target on shares of BioLineRx and gave the stock a “buy” rating in a report on Tuesday, August 8th. Finally, Oppenheimer Holdings, Inc. set a $3.00 target price on shares of BioLineRx and gave the stock a “buy” rating in a research report on Wednesday, October 18th. One equities research analyst has rated the stock with a sell rating and six have given a buy rating to the stock. BioLineRx currently has a consensus rating of “Buy” and an average price target of $2.88.

An institutional investor recently bought a new position in BioLineRx stock. Renaissance Technologies LLC bought a new position in BioLineRx Ltd. (NASDAQ:BLRX) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 131,480 shares of the biotechnology company’s stock, valued at approximately $126,000. Renaissance Technologies LLC owned approximately 0.21% of BioLineRx as of its most recent filing with the Securities & Exchange Commission. 32.25% of the stock is currently owned by institutional investors.

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BioLineRx Company Profile

BioLine RX Ltd is an Israel-based company engaged in the development of therapeutics, from preclinical-stage development to advanced clinical trials, for a range of medical needs. Its clinical therapeutic candidates under development consist of BL-1020 that is in Phase II/III clinical trials to improve cognitive function in schizophrenia patients; BL-1040, which is under pivotal CE-Mark registration trial for the prevention of cardiac remodeling following an acute myocardial infarction; BL-5010, which has completed Phase I/II clinical trials for non-surgical removal of skin lesions; BL-1021 that has completed Phase Ia clinical trial for the treatment of neuropathic pain or pain that results from damage to nerve fibers, and BL-7040, a synthetic oligonucleotide, which is in Phase II clinical trial for the treatment of inflammatory bowel disease.

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