Zacks Investment Research Upgrades Protalix Biotherapeutics Inc (NYSEMKT:PLX) to Hold

Protalix Biotherapeutics Inc (NYSEMKT:PLX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Wednesday, October 11th.

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 price target on shares of Protalix Biotherapeutics and gave the stock a “buy” rating in a research report on Thursday, August 10th.

Shares of Protalix Biotherapeutics (NYSEMKT PLX) opened at 0.781 on Wednesday. The company’s 50-day moving average price is $0.61 and its 200 day moving average price is $0.77. The stock’s market capitalization is $104.15 million. Protalix Biotherapeutics has a one year low of $0.26 and a one year high of $1.52.

Protalix Biotherapeutics (NYSEMKT:PLX) last posted its quarterly earnings data on Wednesday, August 9th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). The business had revenue of $6.36 million for the quarter, compared to the consensus estimate of $5.05 million. Analysts anticipate that Protalix Biotherapeutics will post ($0.23) EPS for the current year.

COPYRIGHT VIOLATION WARNING: “Zacks Investment Research Upgrades Protalix Biotherapeutics Inc (NYSEMKT:PLX) to Hold” was first posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this news story on another site, it was illegally copied and republished in violation of U.S. & international copyright & trademark legislation. The correct version of this news story can be read at https://ledgergazette.com/2017/10/20/protalix-biotherapeutics-inc-plx-upgraded-to-hold-at-zacks-investment-research.html.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Wells Fargo & Company MN raised its holdings in shares of Protalix Biotherapeutics by 14,285.7% during the first quarter. Wells Fargo & Company MN now owns 100,700 shares of the company’s stock worth $137,000 after purchasing an additional 100,000 shares during the period. OxFORD Asset Management LLP acquired a new stake in shares of Protalix Biotherapeutics during the second quarter worth $576,000. Virtu KCG Holdings LLC acquired a new stake in shares of Protalix Biotherapeutics during the second quarter worth $591,000. Finally, Renaissance Technologies LLC increased its holdings in shares of Protalix Biotherapeutics by 302.1% in the 1st quarter. Renaissance Technologies LLC now owns 1,927,500 shares of the company’s stock worth $2,621,000 after acquiring an additional 1,448,200 shares during the period.

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

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 price target on shares of Protalix Biotherapeutics and gave the stock a “buy” rating in a research report on Thursday, August 10th.

Shares of Protalix Biotherapeutics (NYSEMKT PLX) opened at 0.781 on Wednesday. The company’s 50-day moving average price is $0.61 and its 200 day moving average price is $0.77. The stock’s market capitalization is $104.15 million. Protalix Biotherapeutics has a one year low of $0.26 and a one year high of $1.52.

Protalix Biotherapeutics (NYSEMKT:PLX) last posted its quarterly earnings data on Wednesday, August 9th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). The business had revenue of $6.36 million for the quarter, compared to the consensus estimate of $5.05 million. Analysts anticipate that Protalix Biotherapeutics will post ($0.23) EPS for the current year.

COPYRIGHT VIOLATION WARNING: “Zacks Investment Research Upgrades Protalix Biotherapeutics Inc (NYSEMKT:PLX) to Hold” was first posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this news story on another site, it was illegally copied and republished in violation of U.S. & international copyright & trademark legislation. The correct version of this news story can be read at https://ledgergazette.com/2017/10/20/protalix-biotherapeutics-inc-plx-upgraded-to-hold-at-zacks-investment-research.html.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Wells Fargo & Company MN raised its holdings in shares of Protalix Biotherapeutics by 14,285.7% during the first quarter. Wells Fargo & Company MN now owns 100,700 shares of the company’s stock worth $137,000 after purchasing an additional 100,000 shares during the period. OxFORD Asset Management LLP acquired a new stake in shares of Protalix Biotherapeutics during the second quarter worth $576,000. Virtu KCG Holdings LLC acquired a new stake in shares of Protalix Biotherapeutics during the second quarter worth $591,000. Finally, Renaissance Technologies LLC increased its holdings in shares of Protalix Biotherapeutics by 302.1% in the 1st quarter. Renaissance Technologies LLC now owns 1,927,500 shares of the company’s stock worth $2,621,000 after acquiring an additional 1,448,200 shares during the period.

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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