BioLineRx price target adjusted to $26 at H.C. Wainwright after reverse split

H.C. Wainwright adjusted the firm’s price target on BioLineRx (BLRX) to $26 from $9 and keeps a Buy rating on the shares after making adjustments to the fully diluted share count based on the 1-for-40 reverse split on January 30, increasing the firm’s discount rate to 50% to account for financing risk of the company in the current biotech funding environment and adjusting its estimate of the launch years for lead asset Aphexda in the EU and for the indication of pancreatic cancer.