BioLineRx Ltd (BLRX)

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3 Top Penny Stocks for 5,000% Upside in 2024 and Beyond

Only extreme speculators need apply

https://investorplace.com/2024/02/3-top-penny-stocks-for-5000-upside-in-2024-and-beyond/

15h ago · By Josh Enomoto, InvestorPlace Contributor

If you want the ultimate in extreme penny stocks, this list should do it.

BioLine (BLRX): BioLine drug discovery specialty aligns with a wide addressable market.

BioLine (BLRX)

A drug development company, BioLine (NASDAQ:BLRX) utilizes its acumen to power novel drug ideas past the bench. From the clinical development process to approval and commercialization, BioLine helps deliver meaningful therapeutics that address critical needs. Per its website, the company seeks to accelerate innovative ideas into the hands of the people who need them most: desperate patients seeking answers to their conditions.
Fundamentally, BioLine benefits from a massive total addressable market. According to Acumen Research and Consulting, the global drug discovery sector reached a valuation of $81.5 billion in 2022. Further, experts believe that the space could be worth $181.4 billion by 2032. If so, that would translate to a compound annual growth rate (CAGR) of 8.5%.

Given that the market capitalization of BLRX stock is only $96 million, it technically enjoys a robust upside pathway. However, the company will need to print something on the top line eventually to satisfy investors.

Still, H.C. Wainwright’s willing to bet on BioLine, rating shares a “buy” with a $21 target. That comes out to almost 1,594% upside. Therefore, BLRX ranks among the penny stocks to consider.