BioLineRx Investors: Expect 'Pivotal' Data In Next Few Weeks
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
Date | Firm | Action | From | To |
---|---|---|---|---|
Feb 2021 | HC Wainwright & Co. | Maintains | Buy | |
Dec 2020 | HC Wainwright & Co. | Maintains | Buy | |
Aug 2017 | Oppenheimer | Initiates Coverage On | Outperform |
View More Analyst Ratings for BLRX
View the Latest Analyst Ratings
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Posted-In: Maxim GroupAnalyst Color Reiteration Analyst Ratings