Protalix Biotherapeutics (PLX) Rating Increased to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Protalix Biotherapeutics (NYSEAMERICAN:PLX) from a sell rating to a hold rating in a report published on Wednesday, January 10th.

According to Zacks, “Protalix is a biopharmaceutical company focused on the development and commercialization of recombinant therapeutic proteins expressed through its proprietary plant cell-based expression system, ProCellEx(R). Protalix’s unique expression system presents a proprietary method for developing recombinant proteins in a cost-effective, industrial-scale manner. Protalix’s first product manufactured by ProCellEx, taliglucerase alfa, was approved for marketing by the U.S. Food and Drug Administration (FDA) in May 2012 and, subsequently, by the regulatory authorities of other countries. Protalix has licensed to Pfizer Inc. the worldwide development and commercialization rights for taliglucerase alfa, excluding Brazil, where Protalix retains full rights. “

A number of other brokerages have also weighed in on PLX. BidaskClub lowered shares of Protalix Biotherapeutics from a sell rating to a strong sell rating in a research report on Saturday, December 2nd. HC Wainwright reiterated a buy rating and set a $5.00 target price on shares of Protalix Biotherapeutics in a research report on Thursday, November 9th.

Protalix Biotherapeutics (NYSEAMERICAN PLX) traded down $0.00 on Wednesday, reaching $0.70. 382,694 shares of the company traded hands, compared to its average volume of 1,040,000. The company has a market capitalization of $336.69, a price-to-earnings ratio of -0.35 and a beta of 0.97. Protalix Biotherapeutics has a one year low of $0.48 and a one year high of $1.51.

Protalix Biotherapeutics (NYSEAMERICAN:PLX) last issued its earnings results on Wednesday, November 8th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.04). The business had revenue of $7.53 million for the quarter, compared to analysts’ expectations of $6.65 million. During the same period in the previous year, the company earned ($0.07) EPS.

An institutional investor recently bought a new position in Protalix Biotherapeutics stock. OxFORD Asset Management LLP bought a new stake in Protalix Biotherapeutics Inc (NYSEAMERICAN:PLX) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 687,796 shares of the company’s stock, valued at approximately $576,000. OxFORD Asset Management LLP owned approximately 0.54% of Protalix Biotherapeutics at the end of the most recent reporting period.

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Protalix Biotherapeutics Company Profile

Protalix BioTherapeutics, Inc, a biopharmaceutical company, focuses on the development and commercialization of recombinant therapeutic proteins based on its proprietary ProCellEx protein expression system in Israel and internationally. The company offers taliglucerase alfa for injection, which is an enzyme replacement therapy for the long-term treatment of adult patients with a confirmed diagnosis of type 1 Gaucher disease.

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