BioLineRx Ltd (BLRX)

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BioLineRx, Ltd. (BLRX)

These 2 Penny Stocks Could Rally All the Way to $11, Say Analysts

https://finance.yahoo.com/news/2-penny-stocks-could-rally-163111780.html

We’ll start with BioLineRx, a clinical stage biopharma company focused on developing new cancer treatments. Oncology is a major field for cutting edge biopharmas. Cancer is frequently deadly, and frequently resistant to current treatments – and those treatments themselves will frequently cause severe side effects in patients. BioLineRx has an active pipeline of drug candidates, but the most advanced is motixafortide, a synthetic peptide which has completed patient enrollment in a Phase 3 study on stem cell mobilization for autologous bone-marrow transplantation.

The drug is being studied for its efficacy in promoting the harvesting of bone marrow prior to the cancer treatment. Results from a pre-planned interim analysis showed ‘statistically significant evidence favoring treatment with motixafortide in the primary endpoint,’ evidence which was so significant that the enrollment was completed early, with 122 patients instead of 177. Stem cell mobilization, using motixafortide, is seen as the company’s most efficient path to registering the new drug for regulatory approval.

Based on the potential of motixafortide and the $2.40 share price, some analysts think that now is the time to pull the trigger.

Covering BLRX for Oppenheimer, 5-star analyst Mark Breidenbach noted, “Our thesis remains centered on motixafortide in stem cell mobilization, and we see a disconnect between the company’s market capitalization and motixafortide’s market opportunity as a stem cell mobilizer. Key GENESIS secondary endpoints are expected by mid-2021, and we see little risk heading into these data…”

The analyst added, “We believe results from the Phase 3 GENESIS trial could spur the majority of transplant physicians to choose BL-8040 over Mozobil to combine with G-CSF if the drug is approved. Upside to our thesis includes BL-8040 for use in other auto-HSCTs, allo-HSCTs, AML, and solid tumors. The company boasts a catalyst-rich, deep oncology pipeline that has attracted collaborations with Novartis, Merck, and Genentech.”

Given all of the above, Breidenbach rates BLRX as a Buy, and his $11 price target suggests a whopping 358% upside for the year ahead. (To watch Breidenbach’s track record, click here)

The rest of the Street appears to echo Breidenbach’s bullish sentiment. As it has racked up 3 Buys and no Holds or Sells, the consensus is unanimous: BLRX is a Strong Buy. Adding to the good news, the upside potential lands at ~428% based on the $12.67 average price target. (See BLRX stock analysis on TipRanks)