Zacks Investment Research Downgrades Protalix BioTherapeutics, Inc. (PLX) to Hold
Protalix BioTherapeutics, Inc. (NYSEMKT:PLX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.
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 reiterated a “buy” rating and set a $5.00 price objective on shares of Protalix BioTherapeutics in a research note on Thursday, November 9th.
Shares of Protalix BioTherapeutics (PLX) opened at $0.72 on Tuesday. Protalix BioTherapeutics has a 52 week low of $0.26 and a 52 week high of $1.51.
Protalix BioTherapeutics (NYSEMKT:PLX) last released its quarterly earnings data on Wednesday, November 8th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.04). The business 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 posted ($0.07) EPS.
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Several hedge funds have recently made changes to their positions in PLX. Renaissance Technologies LLC raised its holdings in 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 acquiring an additional 1,448,200 shares in the last quarter. Virtu KCG Holdings LLC acquired a new stake in Protalix BioTherapeutics in the second quarter valued at $591,000. OxFORD Asset Management LLP acquired a new stake in Protalix BioTherapeutics in the second quarter valued at $576,000. Finally, Wells Fargo & Company MN raised its holdings in 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 acquiring an additional 100,000 shares in the last quarter.
Protalix BioTherapeutics Company Profile
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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