Protalix Biotherapeutics (PLX) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research lowered shares of Protalix Biotherapeutics (NYSEAMERICAN:PLX) from a hold rating to a sell rating in a research report report published 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 reiterated a buy rating and set a $4.00 price target on shares of Protalix Biotherapeutics in a research note on Monday, September 24th.

Shares of PLX opened at $0.40 on Wednesday. Protalix Biotherapeutics has a one year low of $0.27 and a one year high of $0.83.

Protalix Biotherapeutics (NYSEAMERICAN:PLX) last issued its earnings results on Wednesday, November 7th. The company reported ($0.10) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by ($0.06). The firm had revenue of $0.66 million during the quarter, compared to the consensus estimate of $8.00 million. During the same period in the previous year, the company posted ($0.09) EPS.

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

Protalix Biotherapeutics Company Profile

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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