Protalix Biotherapeutics (NYSEAMERICAN:PLX) Upgraded by Zacks Investment Research to “Hold”

Zacks Investment Research upgraded shares of Protalix Biotherapeutics (NYSEAMERICAN:PLX) from a sell rating to a hold rating in a research note released on Tuesday, Zacks.com reports.

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 issued a $3.00 price target on shares of Protalix Biotherapeutics in a research note on Monday, June 10th.

Protalix Biotherapeutics stock opened at $0.23 on Tuesday. Protalix Biotherapeutics has a one year low of $0.22 and a one year high of $0.83.

Protalix Biotherapeutics (NYSEAMERICAN:PLX) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). The business had revenue of $12.25 million during the quarter, compared to the consensus estimate of $11.75 million. During the same period in the previous year, the business posted ($0.08) EPS.

An institutional investor recently bought a new position in Protalix Biotherapeutics stock. Wedbush Securities Inc. acquired a new position in Protalix Biotherapeutics Inc (NYSEAMERICAN:PLX) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 85,000 shares of the company’s stock, valued at approximately $40,000. Wedbush Securities Inc. owned about 0.06% of Protalix Biotherapeutics as of its most recent SEC filing.

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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