Protalix Biotherapeutics Inc (PLX) Lowered to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of Protalix Biotherapeutics Inc (NYSEAMERICAN:PLX) from a buy rating to a hold rating in a research note released on Tuesday.

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 $5.00 target price on shares of Protalix Biotherapeutics in a report on Thursday, November 9th.

Shares of Protalix Biotherapeutics (PLX) opened at $0.67 on Tuesday. Protalix Biotherapeutics has a 1-year low of $0.26 and a 1-year high of $1.51.

Protalix Biotherapeutics (NYSEAMERICAN:PLX) last released its earnings results on Wednesday, November 8th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.05) by ($0.04). The firm had revenue of $7.53 million for the quarter, compared to analyst estimates of $6.65 million. During the same period last year, the firm earned ($0.07) earnings per share.

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Several hedge funds have recently made changes to their positions in the company. OxFORD Asset Management LLP acquired a new position in shares of Protalix Biotherapeutics during the 2nd quarter valued at about $576,000. Virtu KCG Holdings LLC acquired a new position in shares of Protalix Biotherapeutics during the 2nd quarter valued at about $591,000. Renaissance Technologies LLC boosted its position in shares of Protalix Biotherapeutics by 302.1% during 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. Finally, Wells Fargo & Company MN boosted its position in shares of Protalix Biotherapeutics by 14,285.7% during 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, 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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