JonesTrading analyst Justin Walsh has reiterated their bullish stance on BLRX stock, giving a Buy rating yesterday.
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Justin Walsh has given his Buy rating due to a combination of factors including BioLineRx’s strategic plans and promising clinical trial results. The company is focusing on enhancing its pipeline, particularly in oncology and rare diseases, with a potential new asset transaction targeted for the second half of 2025. This strategic move is supported by favorable outcomes from a Phase II trial involving motixafortide in combination with other treatments for pancreatic cancer, which showed a significant objective response rate and disease control rate compared to historical benchmarks.
Additionally, BioLineRx’s financial health is robust, with a cash position of $28.2 million expected to sustain operations into the first half of 2027. The company is also poised to benefit from a steady stream of royalties from APHEXDA, which will support early-stage development of new assets anticipated to be in-licensed between 2025 and 2026. These factors, combined with efforts to reduce operating expenses and restructure debt, position BioLineRx well for future growth and development, justifying the Buy rating.
Walsh covers the Healthcare sector, focusing on stocks such as Bioline RX Ltd Sponsored ADR, Perspective Therapeutics, and Beyond Air. According to TipRanks, Walsh has an average return of -2.3% and a 32.05% success rate on recommended stocks.
In another report released yesterday, H.C. Wainwright also maintained a Buy rating on the stock with a $26.00 price target.