Protalix Biotherapeutics’ (PLX) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright restated their buy rating on shares of Protalix Biotherapeutics (NYSEAMERICAN:PLX) in a report released on Monday. The brokerage currently has a $4.00 price objective on the stock.

“Valuation methodology, risks and uncertainties. Our model yields an rNPV of $213M for PRX-102 using a 15% discount rate and 75% probability of approval, accounting for the Chiesi partnership and receipt of royalties on PRX-102 sales globally. We also ascribe an rNPV of $200M to alidornase alfa, a $100M rNPV for $50M rNPV for OPRX-106, translating into a price per share of $4.00. This assumes 148M shares outstanding as of end-2Q 2019.”,” HC Wainwright’s analyst commented.

Separately, Zacks Investment Research raised shares of Protalix Biotherapeutics from a hold rating to a buy rating and set a $0.50 price objective for the company in a research report on Tuesday, July 31st.

PLX opened at $0.71 on Monday. Protalix Biotherapeutics has a twelve month low of $0.38 and a twelve month high of $0.92.

Protalix Biotherapeutics (NYSEAMERICAN:PLX) last posted its quarterly earnings data on Thursday, August 9th. The company reported ($0.08) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.03). The company had revenue of $2.01 million for the quarter, compared to analyst estimates of $7.00 million.

Several hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC bought a new position in shares of Protalix Biotherapeutics in the first quarter worth about $121,000. Renaissance Technologies LLC lifted its holdings in shares of Protalix Biotherapeutics by 13.2% in the second quarter. Renaissance Technologies LLC now owns 2,614,700 shares of the company’s stock worth $1,124,000 after acquiring an additional 305,200 shares during the last quarter. Finally, Opaleye Management Inc. lifted its holdings in shares of Protalix Biotherapeutics by 78.6% in the first quarter. Opaleye Management Inc. now owns 3,260,000 shares of the company’s stock worth $1,760,000 after acquiring an additional 1,435,000 shares during the last quarter.

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.

Featured Article: How Do You Make Money With Penny Stocks?

Receive News & Ratings for Protalix Biotherapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Protalix Biotherapeutics and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply