Protalix BioTherapeutics Inc. (PLX) Stock Rating Upgraded by Zacks Investment Research
Protalix BioTherapeutics Inc. (NYSE:PLX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday.
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. “
A number of other equities analysts have also recently issued reports on the company. Jefferies Group cut their target price on Protalix BioTherapeutics from $1.75 to $0.80 and set a “buy” rating on the stock in a report on Tuesday, September 6th. Rodman & Renshaw reiterated a “buy” rating on shares of Protalix BioTherapeutics in a report on Monday, July 11th.
Protalix BioTherapeutics (NYSE:PLX) opened at 0.57 on Tuesday. Protalix BioTherapeutics has a one year low of $0.56 and a one year high of $1.25. The company’s 50-day moving average is $0.61 and its 200-day moving average is $0.73. The firm has a market capitalization of $56.86 million and a P/E ratio of 1.13.
Protalix BioTherapeutics (NYSE:PLX) last issued its earnings results on Monday, August 8th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by $0.03. The company earned $1.77 million during the quarter, compared to the consensus estimate of $1.34 million. During the same quarter in the prior year, the company posted ($0.05) EPS. Equities analysts forecast that Protalix BioTherapeutics will post ($0.41) earnings per share for the current fiscal year.
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