Protalix BioTherapeutics’ (PLX) “Buy” Rating Reiterated at HC Wainwright

Protalix BioTherapeutics (NYSE:PLX)‘s stock had its “buy” rating restated by equities researchers at HC Wainwright in a note issued to investors on Thursday,Benzinga reports. They currently have a $12.00 price target on the stock. HC Wainwright’s target price points to a potential upside of 442.99% from the company’s current price.

Protalix BioTherapeutics Stock Performance

Shares of PLX opened at $2.21 on Thursday. The company’s 50-day simple moving average is $2.60 and its 200-day simple moving average is $2.19. Protalix BioTherapeutics has a 1 year low of $1.32 and a 1 year high of $3.19. The stock has a market capitalization of $177.73 million, a PE ratio of -17.00 and a beta of -0.26.

Insider Buying and Selling

In other Protalix BioTherapeutics news, CEO Dror Bashan purchased 56,000 shares of the company’s stock in a transaction on Friday, December 19th. The stock was acquired at an average price of $1.81 per share, for a total transaction of $101,360.00. Following the completion of the purchase, the chief executive officer directly owned 188,516 shares in the company, valued at approximately $341,213.96. The trade was a 42.26% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC acquired a new stake in Protalix BioTherapeutics in the 2nd quarter valued at about $1,223,000. Jane Street Group LLC grew its position in shares of Protalix BioTherapeutics by 894.3% during the fourth quarter. Jane Street Group LLC now owns 289,917 shares of the company’s stock worth $522,000 after buying an additional 326,417 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Protalix BioTherapeutics by 482.3% during the first quarter. Goldman Sachs Group Inc. now owns 289,461 shares of the company’s stock worth $741,000 after buying an additional 239,751 shares during the period. Evergreen Capital Management LLC purchased a new stake in shares of Protalix BioTherapeutics during the second quarter worth approximately $254,000. Finally, Round Rock Advisors LLC acquired a new stake in Protalix BioTherapeutics in the fourth quarter valued at approximately $279,000. 16.53% of the stock is owned by institutional investors and hedge funds.

About Protalix BioTherapeutics

Protalix BioTherapeutics (NYSE:PLX) is a clinical‐stage biopharmaceutical company focused on the development and manufacturing of recombinant therapeutic proteins through its proprietary ProCellEx® plant cell–based expression system. Headquartered in Carmiel, Israel, with operations in the United States, the company leverages its technology platform to produce complex biologics in a cost‐effective and scalable manner. Protalix’s core expertise lies in engineering plant cells to generate high‐quality therapeutic proteins for rare and specialty diseases.

The company’s first approved commercial product, ELELYSO® (taliglucerase alfa), received regulatory approval from the U.S.