Bioline RX Ltd (BLRX) was Downgraded by Maxim Group to ” Hold” while Lowering the Price Target of the company shares to $ 1 from a previous price target of $4 . Earlier the firm had a rating of “Buy ” on the company shares. Maxim Group advised their investors in a research report released on Aug 12, 2016.
Bioline RX Ltd opened for trading at $0.8 and hit $0.82 on the upside on Monday, eventually ending the session at $0.8057, with a gain of 2.65% or 0.0208 points. The heightened volatility saw the trading volume jump to 1,77,705 shares. Company has a market cap of $45 M.
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. The Company also has 11 pre-clinical stage development products for various indications.