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 report sent to investors on Tuesday morning, 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 report on Monday, June 10th.

Shares of PLX opened at $0.25 on Tuesday. Protalix Biotherapeutics has a 1 year low of $0.22 and a 1 year high of $0.83.

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

A hedge fund recently bought a new stake in Protalix Biotherapeutics stock. Wedbush Securities Inc. purchased a new stake in Protalix Biotherapeutics Inc (NYSEAMERICAN:PLX) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 85,000 shares of the company’s stock, valued at approximately $40,000. Wedbush Securities Inc. owned approximately 0.06% of Protalix Biotherapeutics as of its most recent filing with the Securities & Exchange Commission.

About Protalix Biotherapeutics

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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