Dallas, Texas 06/29/2015 (Financialstrend) – Buoyed by the way Bioline RX Ltd (NASDAQ:BLRX) is advancing its arsenal of products, JPMorgan Chase & Co. (NYSE:JPM) analysts have initiated coverage of the stock with an ‘Outperform’ rating. The stock’s long-term prospects remain strong with $5 price target. The stock has registered 52 week high of $3.28 having rallied by 7.58% over the past one year.
Bioline Could Generate $3.7 Billion In Sales
Bioline RX Ltd (NASDAQ:BLRX) remains undervalued at the current trading levels according to the analysts who are betting big on the pipeline of drugs under development. Four of the company’s six clinical assets are in Phase II trials. Estimated sales from the approval of the assets according to the analysts should be in the range of $3.7 billion.
Strategically building value is the company’s main focus at the moment as it looks to use capital efficiently to generate value from its early stage preclinical assets. The company is also looking to attract attention from a Pharma partner who will help in the later stage of the development of the pre-clinical assets as well as the commercialization of the products.
Positive Clinical Trials Results
JPMorgan believes the company is nearing a potential exponential growth as its assets come online. Bioline RX Ltd (NASDAQ:BLRX) has already confirmed that it is set to present positive safety tests for celiac disease treatment that was under trials. The company has also posted positive safety and efficacy results for BL-8040 an oncology candidate for the collection of stem cells from blood circulation.
Presented results indicate that BL-8O40 can be used as a one-day single dose collection regimen acting as an improvement from the current standard care in use. Bioline RX Ltd (NASDAQ:BLRX) has also presented positive preclinical results for acute myeloid Leukemia. Results from clinical trials indicate that BL-8040 can be used to induce cell death of AML cells.
