Rodman & Renshaw Initiates Coverage On Bioline RX Ltd to Buy with Price Target $3

Rodman & Renshaw Initiates Coverage On Bioline RX Ltd(BLRX). In a research note issued to the investors, the brokerage major Announces the price-target to $3 per share. The shares have been rated Buy. The rating by the stock financial advisor at Rodman & Renshaw was issued on Feb 13, 2017 in a research report to their Investors and Clients.

Bioline RX Ltd (BLRX) shares turned negative on Wednesdays trading session with the shares closing down -0.0099 points or -0.76% at a volume of 3,87,279. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $1.31. The peak price level was also seen at $1.31 while the days lowest was $1.25. Finally the shares closed at $1.29. The 52-week high of the shares is $1.42 while the 52-week low is $0.71. According to the latest information available, the market cap of the company is $73 M.

Bioline RX Ltd(BLRX) last announced its earnings results on Nov 22, 2016 for Fiscal Year 2016 and Q3.Earnings per share were $-0.08. The reported EPS was above estimates by $0.01 or NaN%. Analysts had estimated an EPS of $-0.07.

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.

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