Protalix BioTherapeutics, Inc. to Post Q3 2023 Earnings of ($0.10) Per Share, HC Wainwright Forecasts (NYSE:PLX)

Protalix BioTherapeutics, Inc. (NYSE:PLX) – Equities research analysts at HC Wainwright issued their Q3 2023 earnings per share estimates for Protalix BioTherapeutics in a research note issued to investors on Tuesday, October 31st. HC Wainwright analyst R. Selvaraju forecasts that the company will post earnings of ($0.10) per share for the quarter. HC Wainwright currently has a “Buy” rating and a $10.00 target price on the stock. The consensus estimate for Protalix BioTherapeutics’ current full-year earnings is $0.09 per share. HC Wainwright also issued estimates for Protalix BioTherapeutics’ Q4 2023 earnings at ($0.05) EPS and FY2024 earnings at $0.03 EPS.

Protalix BioTherapeutics (NYSE:PLX) last posted its earnings results on Monday, August 7th. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.25. Protalix BioTherapeutics had a return on equity of 199.41% and a net margin of 13.19%. The firm had revenue of $35.08 million for the quarter, compared to analysts’ expectations of $10.22 million.

Other equities research analysts have also recently issued reports about the company. TheStreet raised Protalix BioTherapeutics from a “d-” rating to a “c-” rating in a research note on Monday, August 7th. StockNews.com cut Protalix BioTherapeutics from a “buy” rating to a “hold” rating in a research note on Wednesday.

Protalix BioTherapeutics Stock Up 3.7 %

Shares of PLX stock opened at $1.68 on Thursday. The stock has a market capitalization of $120.25 million, a PE ratio of 84.04 and a beta of 1.24. The business has a fifty day moving average price of $1.91. Protalix BioTherapeutics has a twelve month low of $1.00 and a twelve month high of $3.55. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.33 and a current ratio of 3.18.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of PLX. BlackRock Inc. lifted its holdings in Protalix BioTherapeutics by 2,173.9% in the second quarter. BlackRock Inc. now owns 2,640,971 shares of the company’s stock valued at $5,282,000 after acquiring an additional 2,524,828 shares during the period. Renaissance Technologies LLC lifted its holdings in Protalix BioTherapeutics by 438.6% in the first quarter. Renaissance Technologies LLC now owns 1,209,750 shares of the company’s stock valued at $2,540,000 after acquiring an additional 985,147 shares during the period. State Street Corp bought a new position in Protalix BioTherapeutics in the second quarter valued at about $1,462,000. Marshall Wace LLP lifted its holdings in Protalix BioTherapeutics by 273.9% in the second quarter. Marshall Wace LLP now owns 562,139 shares of the company’s stock valued at $1,124,000 after acquiring an additional 411,781 shares during the period. Finally, Geode Capital Management LLC bought a new position in Protalix BioTherapeutics in the second quarter valued at about $1,105,000. 12.51% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Dror Bashan bought 64,516 shares of the company’s stock in a transaction on Thursday, October 19th. The shares were acquired at an average cost of $1.40 per share, with a total value of $90,322.40. Following the completion of the acquisition, the chief executive officer now owns 132,516 shares of the company’s stock, valued at approximately $185,522.40. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 4.97% of the company’s stock.

Protalix BioTherapeutics Company Profile

Protalix BioTherapeutics, Inc, a biopharmaceutical company, engages in the development, production, and commercialization of recombinant therapeutic proteins based on its proprietary ProCellEx plant cell-based protein expression system in the United States, Australia, Canada, Israel, Brazil, Russia, Turkey, and internationally.