Protalix Biotherapeutics (PLX) Rating Lowered to Sell at Zacks Investment Research

Protalix Biotherapeutics (NYSEAMERICAN:PLX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors 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. “

Separately, HC Wainwright set a $4.00 price target on shares of Protalix Biotherapeutics and gave the stock a “buy” rating in a research note on Tuesday, October 9th.

Shares of PLX stock opened at $0.44 on Wednesday. Protalix Biotherapeutics has a fifty-two week low of $0.27 and a fifty-two week high of $0.83.

Protalix Biotherapeutics (NYSEAMERICAN:PLX) last announced its quarterly earnings data on Wednesday, November 7th. The company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.06). The company had revenue of $0.66 million for the quarter, compared to analysts’ expectations of $8.00 million. During the same period in the prior year, the business earned ($0.09) EPS.

A hedge fund recently raised its stake in Protalix Biotherapeutics stock. Renaissance Technologies LLC lifted its stake in shares of Protalix Biotherapeutics Inc (NYSEAMERICAN:PLX) by 24.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,266,401 shares of the company’s stock after buying an additional 651,701 shares during the quarter. Renaissance Technologies LLC owned about 2.20% of Protalix Biotherapeutics worth $2,374,000 at the end of the most recent reporting period.

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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