Aegis talks BL-7040, keeps Buy rating on BioLineRx

|About: BioLineRx Ltd. (BLRX)|By:, SA News Editor

BioLineRx (BLRX +5%) is enjoying a strong session (investors seem to like the  BL-7040 update), although the shares are off their premarket highs.

Aegis' Ram Selvaraju says the new data "significantly enhances the level of validation for BL-7040's mechanism of action in IBD."

Buy rating maintained, price target is $7.

Selvaraju is also looking forward to: Results from the Phase 1 trial of BL-8020 and the Phase 2 open-label trial of BL-8040 in the next three to four months, along with top-line Phase 3 data for BL-1040 ... in 2014.