Protalix Biotherapeutics Inc (PLX) Raised to “Hold” at the The Zacks Investment Research

Protalix Biotherapeutics Inc (PLX) Raised to “Hold” at the The Zacks Investment Research

Zacks Investment Research upgraded shares of Protalix Biotherapeutics Inc (NYSE:PLX) from a sell rating to a hold rating in a research note published 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, Jefferies Group cut their price objective on shares of Protalix Biotherapeutics from $1.75 to $0.80 and set a buy rating on the stock in a report on Tuesday, September 6th.

Protalix Biotherapeutics (NYSE:PLX) opened at 0.482 on Wednesday. Protalix Biotherapeutics has a 52-week low of $0.41 and a 52-week high of $1.11. The firm’s 50-day moving average is $0.51 and its 200-day moving average is $0.65. The firm has a market capitalization of $48.11 million and a PE ratio of 1.048.

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