BioLineRx, Ltd. (BLRX) was a big mover last session with its shares rising over 7% on the day. The upside was a result of the company’s announcement that it will present positive safety test results for its celiac disease treatment candidate BL-7010 at the 16th annual International Celiac Disease Symposium, which is taking place from June 21-24 at Prague. In addition, JP Morgan initiated coverage on the stock with an Outperform rating and a price target of $5. These developments led to far more shares changing hands yesterday than in a normal session. The move continues the recent uptrend of the company as the stock has gained over 18% in the past one-month time frame.
This clinical stage biopharmaceutical development company has seen no estimate revision in the last 30 days. The Zacks Consensus Estimate hasn’t been in trend either. Yesterday’s rally is encouraging though, so make sure to keep a close watch on this firm in the near future.
BioLineRx currently has a Zacks Rank #3 (Hold) and its Earnings ESP is 0.00%.
A better-ranked stock in the Med-Drugs industry is Valeant Pharmaceuticals International, Inc. (VRX) with a Zacks Rank #1 (Strong Buy).
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