Zacks Investment Research Upgrades Protalix Biotherapeutics Inc (PLX) to Hold

Protalix Biotherapeutics Inc (NYSEMKT:PLX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and 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 $5.00 price objective on Protalix Biotherapeutics and gave the company a “buy” rating in a research report on Thursday, August 10th.

Protalix Biotherapeutics (NYSEMKT:PLX) last issued its quarterly earnings results on Wednesday, August 9th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.04) by ($0.02). The business had revenue of $6.36 million during the quarter, compared to analyst estimates of $5.05 million.

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Several large investors have recently made changes to their positions in PLX. Renaissance Technologies LLC lifted its holdings in shares of Protalix Biotherapeutics by 302.1% in the 1st quarter. Renaissance Technologies LLC now owns 1,927,500 shares of the company’s stock valued at $2,621,000 after acquiring an additional 1,448,200 shares during the last quarter. Virtu KCG Holdings LLC bought a new position in shares of Protalix Biotherapeutics in the 2nd quarter valued at about $591,000. OxFORD Asset Management LLP bought a new position in shares of Protalix Biotherapeutics in the 2nd quarter valued at about $576,000. Finally, Wells Fargo & Company MN lifted its holdings in shares of Protalix Biotherapeutics by 14,285.7% in the 1st quarter. Wells Fargo & Company MN now owns 100,700 shares of the company’s stock valued at $137,000 after acquiring an additional 100,000 shares during the last quarter.

Protalix Biotherapeutics Company Profile

Protalix BioTherapeutics, Inc is a biopharmaceutical company focused on the development and commercialization of recombinant therapeutic proteins based on its ProCellEx protein expression system, ProCellEx. Using its ProCellEx system, the Company is developing a pipeline of biosimilar or generic versions of recombinant therapeutic proteins based on its plant cell-based expression technology, which focuses pharmaceutical markets and that rely upon known biological mechanisms of action.

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