Protalix BioTherapeutics Inc. (PLX) Stock Rating Upgraded by Zacks Investment Research

Protalix BioTherapeutics Inc. (NYSE:PLX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and 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. “

A number of other brokerages also recently issued reports on PLX. Rodman & Renshaw reaffirmed a “buy” rating on shares of Protalix BioTherapeutics in a report on Monday, July 11th. Jefferies Group lowered their price target on Protalix BioTherapeutics from $1.75 to $0.80 and set a “buy” rating on the stock in a report on Tuesday, September 6th.

Shares of Protalix BioTherapeutics (NYSE:PLX) opened at 0.57 on Tuesday. Protalix BioTherapeutics has a 12 month low of $0.56 and a 12 month high of $1.25. The stock’s 50 day moving average price is $0.61 and its 200 day moving average price is $0.73. The stock has a market capitalization of $56.86 million and a price-to-earnings ratio of 1.13.

Protalix BioTherapeutics (NYSE:PLX) last released its earnings results on Monday, August 8th. The company reported ($0.11) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by $0.03. The business earned $1.77 million during the quarter, compared to analyst estimates of $1.34 million. During the same quarter last year, the business earned ($0.05) earnings per share. Analysts expect that Protalix BioTherapeutics will post ($0.41) EPS for the current year.

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