Protalix Biotherapeutics Inc (PLX) Stock Rating Lowered by Zacks Investment Research

Protalix Biotherapeutics Inc (NYSEMKT:PLX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued 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, Rodman & Renshaw reaffirmed a “buy” rating and set a $5.00 target price on shares of Protalix Biotherapeutics in a report on Tuesday, May 23rd.

Protalix Biotherapeutics (PLX) opened at 0.8001 on Tuesday. The company’s 50-day moving average price is $0.85 and its 200 day moving average price is $0.86. Protalix Biotherapeutics has a 52 week low of $0.26 and a 52 week high of $1.51. The company’s market capitalization is $101.21 million.

Protalix Biotherapeutics (NYSEMKT:PLX) last released its quarterly earnings results on Wednesday, May 10th. The company reported ($0.07) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.09) by $0.02. The company had revenue of $2.89 million during the quarter, compared to the consensus estimate of $2.55 million. During the same period in the prior year, the company earned ($0.09) earnings per share. On average, analysts predict that Protalix Biotherapeutics will post ($0.22) EPS for the current year.

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In other Protalix Biotherapeutics news, CEO Moshe Manor bought 50,000 shares of the stock in a transaction dated Tuesday, May 16th. The shares were bought at an average cost of $0.81 per share, with a total value of $40,500.00. Following the completion of the acquisition, the chief executive officer now owns 50,000 shares of the company’s stock, valued at $40,500. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website.

An institutional investor recently raised its position in Protalix Biotherapeutics stock. Renaissance Technologies LLC boosted its position in shares of Protalix Biotherapeutics Inc (NYSEMKT:PLX) by 302.1% during the first quarter, according to its most recent filing with the SEC. The firm owned 1,927,500 shares of the company’s stock after buying an additional 1,448,200 shares during the period. Renaissance Technologies LLC’s holdings in Protalix Biotherapeutics were worth $2,621,000 as of its most recent SEC filing.

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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