Market Overview

BioLineRx Investors: Expect 'Pivotal' Data In Next Few Weeks

Share:

In a report published Thursday, Maxim Group analyst Jason Kolbert maintained a Buy rating on BioLine RX Ltd (NASDAQ: BLRX), with a price target of $8, ahead of the BL-1040 pivotal trial data in Europe, expected in the next few weeks.

BL-1040, known as bioabsorbable cardiac matrix or BCM, is "a novel, first-in-class device to prevent left ventricular remodeling and subsequent progression to congestive heart failure in patients who have had a heart attack (acute myocardial infarction)," the report said.

Bellerophon Therapeutics Inc (NASDAQ: BLPH), BiolineRx's partner for BL-1040, announced that all patients had completed follow-ups in June. If statistically significant, the final data may support registration in Europe as early as mid-2016. A US pivotal study is expected next year.

Analyst Jason Kolbert commented, "This is good news for both BiolineRx and Bellerophon. BL-1040 CE mark registration would result in BiolineRx shifting to a commercial stage company from solely development-stage. Combined we see a valuation inflection coming soon if the data is positive."

"We value BioLineRx based on the expected royalties from the products in late-stage development," Kolbert added.

Latest Ratings for BLRX

DateFirmActionFromTo
Aug 2017Initiates Coverage OnOutperform
May 2017UpgradesHoldBuy
Feb 2017Initiates Coverage OnBuy

View More Analyst Ratings for BLRX
View the Latest Analyst Ratings

Posted-In: Maxim GroupAnalyst Color Reiteration Analyst Ratings

 

Related Articles (BLRX + BLPH)

View Comments and Join the Discussion!

Latest Ratings

StockFirmActionPT
YEXTMorgan StanleyMaintains15.0
WKMorgan StanleyMaintains42.0
RAMPMorgan StanleyMaintains58.0
PDMorgan StanleyMaintains34.0
HTHTDaiwa CapitalDowngrades
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com

Morning Market Losers

Morning Market Gainers