BLRX - BioLineRx down due to 'sell the news' reaction to motixafortide data says H.C. Wainwright

H.C. Wainwright points out that BioLineRx ([[BLRX]] -16.3%) shares selloff following positive data from COMBAT study, is a "classic example of 'sell on the news' following a strong stock run up. Over one year shares have gained ~52% while YTD shares have increased ~61%.Earlier today, the company reported data from COMBAT study evaluating company's motixafortide in combination with Merck's Keytruda and chemotherapy in patients with second-line stage IV pancreatic ductal adenocarcinoma.Analyst Joseph Pantginis raised the price target to $22 from $18 as he increased his projected odds of success for stem cell mobilization to 90% from 40% and raised his projected odds of success for pancreatic cancer to 60% from 30%. The analyst, who calls the data "a far cry from the very broad graveyard of failures in the pancreatic arena," noted that the COMBAT results showed improvements across all endpoints.Wall Street rating for the stock is 'Bullish', while Quant rating stands at 'Neutral'.

For further details see:

BioLineRx down due to 'sell the news' reaction to motixafortide data, says H.C. Wainwright