Protalix Biotherapeutics (PLX) Stock Price Down 6.1% on Disappointing Earnings

Protalix Biotherapeutics Inc (NYSEAMERICAN:PLX)’s share price fell 6.1% on Wednesday following a weaker than expected earnings announcement. The stock traded as low as $0.46 and last traded at $0.46. 836,045 shares changed hands during mid-day trading, an increase of 14% from the average session volume of 731,105 shares. The stock had previously closed at $0.49.

The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.06). During the same period in the prior year, the firm earned ($0.09) EPS.

Several equities research analysts recently commented on PLX shares. HC Wainwright reissued a “buy” rating and issued a $4.00 price target on shares of Protalix Biotherapeutics in a report on Monday, September 24th. Zacks Investment Research lowered shares of Protalix Biotherapeutics from a “hold” rating to a “sell” rating in a report on Wednesday, October 10th.

An institutional investor recently raised its position in Protalix Biotherapeutics stock. Renaissance Technologies LLC raised its holdings in shares of Protalix Biotherapeutics Inc (NYSEAMERICAN:PLX) by 13.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,614,700 shares of the company’s stock after buying an additional 305,200 shares during the quarter. Renaissance Technologies LLC owned about 1.80% of Protalix Biotherapeutics worth $1,124,000 as of its most recent SEC filing.

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Protalix Biotherapeutics Company Profile (NYSEAMERICAN:PLX)

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 Elelyso, a plant cell expressed recombinant glucocerebrosidase enzyme for the treatment of Gaucher disease.

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