Zacks Investment Research Lowers Protalix Biotherapeutics (PLX) to Sell

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Zacks Investment Research lowered shares of Protalix Biotherapeutics (NYSEAMERICAN:PLX) from a hold rating to a sell rating in a research report released 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 reaffirmed a buy rating and set a $4.00 target price on shares of Protalix Biotherapeutics in a research report on Monday, September 24th.

NYSEAMERICAN PLX opened at $0.40 on Wednesday. Protalix Biotherapeutics has a twelve month low of $0.27 and a twelve month high of $0.83.

Protalix Biotherapeutics (NYSEAMERICAN:PLX) last announced its earnings results on Wednesday, November 7th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by ($0.06). The company had revenue of $0.66 million during the quarter, compared to analyst estimates of $8.00 million. During the same period in the prior year, the company posted ($0.09) earnings per share.

A hedge fund recently raised its stake in Protalix Biotherapeutics stock. Renaissance Technologies LLC raised its stake in shares of Protalix Biotherapeutics Inc (NYSEAMERICAN:PLX) by 13.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,614,700 shares of the company’s stock after purchasing an additional 305,200 shares during the period. Renaissance Technologies LLC owned 1.80% of Protalix Biotherapeutics worth $1,124,000 at the end of the most recent quarter.

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 Elelyso, a plant cell expressed recombinant glucocerebrosidase enzyme for the treatment of Gaucher disease.

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