In a report released today, Joseph Pantginis from H.C. Wainwright maintained a Buy rating on Bioline RX Ltd Sponsored ADR (BLRX – Research Report), with a price target of $26.00.
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Joseph Pantginis’s rating is based on BioLineRx’s strong financial performance and promising clinical developments. The company reported a significant positive earnings per share for the first quarter of 2025, surpassing expectations primarily due to warrant accounting adjustments. With $26.4 million in cash, BioLineRx is well-positioned financially, with sufficient runway into the second half of 2026.
Moreover, the company’s clinical advancements, particularly in the treatment of metastatic pancreatic ductal adenocarcinoma (mPDAC), are noteworthy. The ongoing Phase 2b trial of motixafortide in combination with other therapies shows encouraging results, with a high percentage of patients achieving partial responses or stable disease. These promising outcomes, coupled with the potential for broader applicability of motixafortide, underpin Pantginis’s optimistic outlook and Buy rating for the stock.