Protalix Biotherapeutics (PLX) Lifted 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 note issued to 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. “

A number of other brokerages have also weighed in on PLX. BidaskClub lowered Protalix Biotherapeutics from a “sell” rating to a “strong sell” rating in a research report on Saturday, December 2nd. HC Wainwright reaffirmed 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 (PLX) opened at $0.72 on Wednesday. The stock has a market capitalization of $355.42, a P/E ratio of -0.36 and a beta of 0.97. Protalix Biotherapeutics has a twelve month low of $0.40 and a twelve month high of $1.51.

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

A hedge fund recently bought a new stake in Protalix Biotherapeutics stock. OxFORD Asset Management LLP bought a new position 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 bought 687,796 shares of the company’s stock, valued at approximately $576,000. OxFORD Asset Management LLP owned 0.54% of Protalix Biotherapeutics as of its most recent SEC filing.

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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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