Protalix Biotherapeutics Inc (PLX) Upgraded to Hold at Zacks Investment Research

Protalix Biotherapeutics Inc (NYSEMKT:PLX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued 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. “

Separately, HC Wainwright set a $5.00 target price on Protalix Biotherapeutics and gave the company a “buy” rating in a report on Thursday, August 10th.

Protalix Biotherapeutics (NYSEMKT:PLX) opened at 0.59 on Wednesday. The firm’s market cap is $78.68 million. The firm’s 50 day moving average price is $0.58 and its 200 day moving average price is $0.80. Protalix Biotherapeutics has a 52-week low of $0.26 and a 52-week high of $1.51.

Protalix Biotherapeutics (NYSEMKT:PLX) last posted its earnings results on Wednesday, August 9th. The company reported ($0.06) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.04) by ($0.02). The firm had revenue of $6.36 million during the quarter, compared to the consensus estimate of $5.05 million. Equities research analysts anticipate that Protalix Biotherapeutics will post ($0.23) EPS for the current fiscal year.

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Several hedge funds and other institutional investors have recently made changes to their positions in PLX. Wells Fargo & Company MN grew its position in shares of Protalix Biotherapeutics by 14,285.7% in the first quarter. Wells Fargo & Company MN now owns 100,700 shares of the company’s stock valued at $137,000 after purchasing an additional 100,000 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of Protalix Biotherapeutics by 302.1% in the first quarter. Renaissance Technologies LLC now owns 1,927,500 shares of the company’s stock valued at $2,621,000 after purchasing an additional 1,448,200 shares in the last quarter. Virtu KCG Holdings LLC purchased a new position in shares of Protalix Biotherapeutics in the second quarter valued at $591,000. Finally, OxFORD Asset Management LLP purchased a new position in shares of Protalix Biotherapeutics in the second quarter valued at $576,000.

About Protalix Biotherapeutics

Protalix BioTherapeutics, Inc is a biopharmaceutical company focused on the development and commercialization of recombinant therapeutic proteins based on its ProCellEx protein expression system, ProCellEx. Using its ProCellEx system, the Company is developing a pipeline of biosimilar or generic versions of recombinant therapeutic proteins based on its plant cell-based expression technology, which focuses pharmaceutical markets and that rely upon known biological mechanisms of action.

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