Protalix BioTherapeutics (NYSE:PLX) Earns Buy Rating from HC Wainwright

Protalix BioTherapeutics (NYSE:PLX)‘s stock had its “buy” rating restated by investment analysts at HC Wainwright in a research note issued to investors on Wednesday, Benzinga reports. They presently have a $12.00 target price on the stock. HC Wainwright’s target price suggests a potential upside of 360.65% from the company’s current price.

Protalix BioTherapeutics Price Performance

Shares of PLX traded down $0.04 during mid-day trading on Wednesday, reaching $2.60. The company’s stock had a trading volume of 148,646 shares, compared to its average volume of 919,864. Protalix BioTherapeutics has a 12-month low of $1.60 and a 12-month high of $3.19. The company’s 50 day moving average is $2.41 and its 200 day moving average is $2.33. The stock has a market cap of $209.89 million, a PE ratio of -20.04 and a beta of 0.02.

Institutional Trading of Protalix BioTherapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the business. Invesco Ltd. increased its stake in Protalix BioTherapeutics by 12.4% in the fourth quarter. Invesco Ltd. now owns 50,563 shares of the company’s stock valued at $91,000 after purchasing an additional 5,560 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Protalix BioTherapeutics by 4.0% during the first quarter. Bank of New York Mellon Corp now owns 219,307 shares of the company’s stock worth $476,000 after buying an additional 8,440 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in shares of Protalix BioTherapeutics by 126.5% during the third quarter. BNP Paribas Financial Markets now owns 15,215 shares of the company’s stock worth $34,000 after buying an additional 8,498 shares during the last quarter. Geode Capital Management LLC increased its position in Protalix BioTherapeutics by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 830,054 shares of the company’s stock valued at $1,494,000 after acquiring an additional 10,277 shares during the period. Finally, Barclays PLC increased its position in Protalix BioTherapeutics by 10.9% in the 4th quarter. Barclays PLC now owns 112,849 shares of the company’s stock valued at $203,000 after acquiring an additional 11,051 shares during the period. Hedge funds and other institutional investors own 16.53% of the company’s stock.

Protalix BioTherapeutics Company Profile

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.