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BioLineRx Ltd. (NASDAQ: BLRX) Stock Forecast for 2023 with -976.92% Downside

In the last trading session, 2.36 million BioLineRx Ltd. (NASDAQ:BLRX) shares changed hands as the company’s beta touched 1.81. With the company’s per share price at $1.95 changed hands at $0.19 or 10.80% during last session, the market valuation stood at $109.01M. BLRX’s last price was a discount, traded about -29.74% off its 52-week high of $2.53. The share price had its 52-week low at $0.55, which suggests the last value was 71.79% up since then. When we look at BioLineRx Ltd.’s average trading volume, we note the 10-day average is 3.88 million shares, with the 3-month average coming to 985.15K.

Analysts gave the BioLineRx Ltd. (BLRX) stock a consensus recommendation rating of a Buy, calculated at a mean rating of 2.00. If we narrow down to specifics, the data shows that 0 out of 1 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 0 recommended BLRX as a Hold, 1 felt it is a Buy and 0 rated the stock as Underweight. BioLineRx Ltd.’s EPS for the current quarter is expected to be -$0.21.

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BioLineRx Ltd. (NASDAQ:BLRX) trade information

Instantly BLRX was in green as seen at the end of in last trading. With action -6.70%, the performance over the past five days has been red. The jump to weekly highs of 2.3300 on Friday, 09/15/23 added 10.80% to the stock’s daily price. The company’s shares are showing year-to-date upside of 230.51%, with the 5-day performance at -6.70% in the red. However, in the 30-day time frame, BioLineRx Ltd. (NASDAQ:BLRX) is 30.87% up. Looking at the short shares, we see there were 2.4 million shares sold at short interest cover period of 3.7 days.

The consensus price target for the stock as assigned by Wall Street analysts is $14.00, meaning bulls need an upside of 86.07% from its current market value. According to analyst projections, BLRX’s forecast low is $7.00 with $21.00 as the target high. To hit the forecast high, the stock’s price needs a -976.92% plunge from its current level, while the stock would need to soar -258.97% for it to hit the projected low.

BioLineRx Ltd. (BLRX) estimates and forecasts

Data shows that the BioLineRx Ltd. share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 220.09% over the past 6 months, a -72.92% in annual growth rate that is considerably lower than the industry average of 9.70%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for BioLineRx Ltd. will fall -40.00%, while the growth in revenue is estimated to hit -33.30% for the next quarter.

2 analysts are of the opinion that BioLineRx Ltd.’s revenue for the quarter ending Dec 2023 will be $1.47 million.

The 2023 estimates are for BioLineRx Ltd. earnings to increase by 21.00%.

BLRX Dividends

BioLineRx Ltd. is expected to release its next quarterly earnings report in October.

BioLineRx Ltd. (NASDAQ:BLRX)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 0.00% of BioLineRx Ltd. shares while 5.24% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 5.24%. There are 5.24% institutions holding the BioLineRx Ltd. stock share, with Morgan Stanley the top institutional holder. As of Jun 29, 2023, the company held 0.42% of the shares, roughly 0.26 million BLRX shares worth $0.42 million.

Citadel Advisors Llc holds the second largest percentage of outstanding shares, with 0.35% or 0.21 million shares worth $0.34 million as of Jun 29, 2023.

With 32026.0 shares estimated at $50440.0 under it, the former controlled 0.05% of total outstanding shares.

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