H.C. Wainwright lowered the firm’s price target on BioLineRx (BLRX) to $9 from $21 and keeps a Buy rating on the shares after the company announced Q3 results and projected cash at about $20M to fund operations into 2026. The firm notes that its lowered target accounts for an adjustment to the base year; adjustment of the fully diluted share count; and adjusting its Aphexda projections based on the Ayrmid partnership and change in economics with BioLine now receiving a tiered royalty of 18%-23% for all territories globally ex-Asia.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
