BioLineRx price target lowered to $9 from $21 at H.C. Wainwright

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.