Protalix Biotherapeutics (NYSEAMERICAN:PLX) Lowered to “Sell” at Zacks Investment Research

Zacks Investment Research cut shares of Protalix Biotherapeutics (NYSEAMERICAN:PLX) from a hold rating to a sell rating in a report published on Thursday morning, 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 set a $30.00 target price on Protalix Biotherapeutics and gave the stock a buy rating in a report on Friday, October 18th.

Shares of PLX traded up $0.01 during trading hours on Thursday, reaching $3.80. 57,296 shares of the company’s stock traded hands, compared to its average volume of 180,681. Protalix Biotherapeutics has a twelve month low of $1.70 and a twelve month high of $6.00.

Protalix Biotherapeutics (NYSEAMERICAN:PLX) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.20) EPS for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.20. The business had revenue of $14.25 million for the quarter, compared to analyst estimates of $11.60 million. During the same period last year, the business posted ($1.00) earnings per share.

An institutional investor recently raised its position in Protalix Biotherapeutics stock. Renaissance Technologies LLC lifted its stake in Protalix Biotherapeutics Inc (NYSEAMERICAN:PLX) by 7.7% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,326,528 shares of the company’s stock after purchasing an additional 308,823 shares during the quarter. Renaissance Technologies LLC owned 2.92% of Protalix Biotherapeutics worth $2,029,000 as of its most recent filing with the Securities & Exchange Commission.

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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