Zacks Investment Research cut shares of Protalix Biotherapeutics (NYSEAMERICAN:PLX) from a hold rating to a sell rating in a research note issued to investors on Saturday.
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. “
PLX has been the subject of several other research reports. HC Wainwright reissued a buy rating and set a $5.00 price target on shares of Protalix Biotherapeutics in a research report on Thursday, February 1st. BidaskClub cut shares of Protalix Biotherapeutics from a sell rating to a strong sell rating in a research report on Saturday, December 2nd.
Protalix Biotherapeutics (NYSEAMERICAN:PLX) last announced its quarterly earnings results on Tuesday, March 6th. The company reported ($0.10) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.04). The business had revenue of $2.47 million for the quarter, compared to analyst estimates of $9.70 million.
A hedge fund recently bought a new stake in Protalix Biotherapeutics stock. Opaleye Management Inc. purchased a new stake in shares of Protalix Biotherapeutics Inc (NYSEAMERICAN:PLX) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 1,825,000 shares of the company’s stock, valued at approximately $1,206,000. Opaleye Management Inc. owned 1.27% of Protalix Biotherapeutics at the end of the most recent reporting period.
About Protalix Biotherapeutics
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 taliglucerase alfa for injection, which is an enzyme replacement therapy for the long-term treatment of adult patients with a confirmed diagnosis of type 1 Gaucher disease.
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