Protalix BioTherapeutics (NYSE:PLX) Shares Up 0.7% – Here’s Why

Protalix BioTherapeutics, Inc. (NYSE:PLX) shares rose 0.7% during trading on Tuesday. The company traded as high as $2.76 and last traded at $2.73. Approximately 934,225 shares changed hands during mid-day trading, an increase of 2% from the average daily volume of 912,009 shares. The stock had previously closed at $2.71.

Analyst Ratings Changes

Separately, HC Wainwright reiterated a “buy” rating and set a $12.00 target price on shares of Protalix BioTherapeutics in a research report on Wednesday, September 9th. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, Protalix BioTherapeutics presently has a consensus rating of “Buy” and a consensus price target of $12.00.

Protalix BioTherapeutics Stock Down 0.4%

The company has a fifty day moving average price of $2.57 and a 200-day moving average price of $2.31. The stock has a market capitalization of $217.54 million, a P/E ratio of -20.77 and a beta of -0.09.

Institutional Investors Weigh In On Protalix BioTherapeutics

A number of large investors have recently modified their holdings of PLX. BlackRock Inc. purchased a new stake in Protalix BioTherapeutics in the 2nd quarter worth approximately $9,429,000. Dimensional Fund Advisors LP lifted its stake in Protalix BioTherapeutics by 932.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 296,843 shares of the company’s stock worth $644,000 after purchasing an additional 268,099 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Protalix BioTherapeutics in the 2nd quarter valued at approximately $543,000. Lazard Asset Management LLC raised its position in Protalix BioTherapeutics by 21.3% in the first quarter. Lazard Asset Management LLC now owns 86,617 shares of the company’s stock valued at $188,000 after purchasing an additional 15,224 shares during the period. Finally, Bank of America Corp DE increased its holdings in Protalix BioTherapeutics by 70.6% in the 1st quarter. Bank of America Corp DE now owns 79,079 shares of the company’s stock valued at $172,000 after purchasing an additional 32,727 shares during the last quarter. Hedge funds and other institutional investors own 16.53% of the company’s stock.

Protalix BioTherapeutics Company Profile

Protalix BioTherapeutics, Inc (NYSE:PLX) is a biopharmaceutical company focused on developing and commercializing treatments for rare and serious diseases. The company uses its proprietary ProCellEx plant-cell-based protein-expression platform to produce recombinant therapeutic proteins, with the goal of improving manufacturing efficiency and product characteristics.

Protalix’s commercial products include Elfabrio (pegunigalsidase alfa), an enzyme replacement therapy for adults with Fabry disease, and Elelyso (taliglucerase alfa), an enzyme replacement therapy for Gaucher disease.