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 report issued 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. “

A number of other analysts have also weighed in on PLX. Rodman & Renshaw restated a “buy” rating on shares of Protalix BioTherapeutics in a research report on Monday, July 11th. Jefferies Group cut their target price on shares of Protalix BioTherapeutics from $1.75 to $0.80 and set a “buy” rating on the stock in a research report on Tuesday, September 6th.

Protalix BioTherapeutics (NYSE:PLX) opened at 0.5953 on Wednesday. The firm has a market capitalization of $59.39 million and a price-to-earnings ratio of 1.1765. The company has a 50-day moving average of $0.62 and a 200-day moving average of $0.74. Protalix BioTherapeutics has a 52 week low of $0.58 and a 52 week high of $1.43.

Protalix BioTherapeutics (NYSE:PLX) last issued its earnings results on Monday, August 8th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by $0.03. The business had revenue of $1.77 million for the quarter, compared to analysts’ expectations of $1.34 million. During the same quarter in the prior year, the company earned ($0.05) EPS. On average, equities analysts forecast that Protalix BioTherapeutics will post ($0.41) earnings per share for the current fiscal year.

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