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

Protalix Biotherapeutics (NYSEAMERICAN:PLX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

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. “

PLX has been the subject of several other research reports. HC Wainwright set a $5.00 price objective on shares of Protalix Biotherapeutics and gave the company a “buy” rating in a report on Wednesday, November 29th. BidaskClub downgraded shares of Protalix Biotherapeutics from a “sell” rating to a “strong sell” rating in a report on Saturday, December 2nd.

Shares of Protalix Biotherapeutics (NYSEAMERICAN:PLX) traded up $0.03 during trading on Wednesday, reaching $0.74. 704,136 shares of the company traded hands, compared to its average volume of 1,060,000. The company has a market cap of $352.24, a P/E ratio of -0.37 and a beta of 0.97. Protalix Biotherapeutics has a one year low of $0.41 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 the consensus estimate of ($0.05) by ($0.04). The company had revenue of $7.53 million for the quarter, compared to the consensus estimate of $6.65 million. During the same period in the prior year, the company earned ($0.07) earnings per share.

An institutional investor recently bought a new position in Protalix Biotherapeutics stock. Virtu KCG Holdings LLC acquired a new stake in shares of Protalix Biotherapeutics Inc (NYSEAMERICAN:PLX) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 705,907 shares of the company’s stock, valued at approximately $591,000. Virtu KCG Holdings LLC owned about 0.56% of Protalix Biotherapeutics as of its most recent SEC filing.

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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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