Protalix Biotherapeutics (PLX) Raised 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 research report sent to investors 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. “

Other analysts also recently issued research reports about the company. HC Wainwright set a $5.00 price target on Protalix Biotherapeutics and gave the company a buy rating in a research report on Thursday, January 4th. BidaskClub downgraded Protalix Biotherapeutics from a sell rating to a strong sell rating in a research report on Saturday, December 2nd.

Protalix Biotherapeutics (NYSEAMERICAN:PLX) traded down $0.01 during midday trading on Wednesday, hitting $0.66. The stock had a trading volume of 443,590 shares, compared to its average volume of 1,128,928. The company has a market cap of $323.71, a PE ratio of -0.34 and a beta of 1.02. Protalix Biotherapeutics has a 12 month low of $0.48 and a 12 month high of $1.51.

Protalix Biotherapeutics (NYSEAMERICAN:PLX) last announced its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $6.65 million. During the same period in the prior year, the business posted ($0.07) earnings per share.

A hedge fund recently bought a new stake in Protalix Biotherapeutics stock. OxFORD Asset Management LLP purchased a new stake in shares of Protalix Biotherapeutics Inc (NYSEAMERICAN:PLX) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 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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About Protalix Biotherapeutics

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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