H.C. Wainwright lowered the firm’s price target on BioLineRx (BLRX) to $9 from $21 and keeps a Buy rating on the shares after the company announced Q3 results and projected cash at about $20M to fund operations into 2026. The firm notes that its lowered target accounts for an adjustment to the base year; adjustment of the fully diluted share count; and adjusting its Aphexda projections based on the Ayrmid partnership and change in economics with BioLine now receiving a tiered royalty of 18%-23% for all territories globally ex-Asia.
Don't Miss Our Christmas Offers:
- Discover the latest stocks recommended by top Wall Street analysts, all in one place with Analyst Top Stocks
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BLRX:
- BioLineRx Secures Key Deals to Boost Shareholder Value
- BioLineRx reports Q3 EPS 0c vs. (2c) last year
- Options Volatility and Implied Earnings Moves Today, November 25, 2024
- Options Volatility and Implied Earnings Moves This Week, November 25 – November 29, 2024
- BiolineRx Ltd. Announces New Direct Offering of Shares