Protalix BioTherapeutics (NYSE:PLX) Given “Buy” Rating at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Protalix BioTherapeutics (NYSE:PLX) in a report released on Thursday morning,Benzinga reports. HC Wainwright currently has a $12.00 price target on the stock.

Protalix BioTherapeutics Stock Performance

Shares of NYSE:PLX opened at $2.23 on Thursday. Protalix BioTherapeutics has a 1 year low of $1.32 and a 1 year high of $3.19. The stock has a 50-day simple moving average of $2.61 and a 200-day simple moving average of $2.20. The stock has a market capitalization of $179.34 million, a P/E ratio of -17.15 and a beta of -0.26.

Hedge Funds Weigh In On Protalix BioTherapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in PLX. Invesco Ltd. boosted its position in Protalix BioTherapeutics by 12.4% during the 4th quarter. Invesco Ltd. now owns 50,563 shares of the company’s stock worth $91,000 after purchasing an additional 5,560 shares during the period. Main Street Financial Solutions LLC raised its position in Protalix BioTherapeutics by 65.8% in the fourth quarter. Main Street Financial Solutions LLC now owns 214,100 shares of the company’s stock valued at $385,000 after purchasing an additional 85,000 shares during the period. Lazard Asset Management LLC purchased a new position in Protalix BioTherapeutics in the fourth quarter valued at about $129,000. Barclays PLC lifted its stake in shares of Protalix BioTherapeutics by 10.9% during the fourth quarter. Barclays PLC now owns 112,849 shares of the company’s stock worth $203,000 after purchasing an additional 11,051 shares in the last quarter. Finally, Marshall Wace LLP purchased a new stake in shares of Protalix BioTherapeutics in the fourth quarter worth about $34,000. Institutional investors and hedge funds own 16.53% of the company’s stock.

Protalix BioTherapeutics Company Profile

Protalix BioTherapeutics (NYSE:PLX) is a clinical‐stage biopharmaceutical company focused on the development and manufacturing of recombinant therapeutic proteins through its proprietary ProCellEx® plant cell–based expression system. Headquartered in Carmiel, Israel, with operations in the United States, the company leverages its technology platform to produce complex biologics in a cost‐effective and scalable manner. Protalix’s core expertise lies in engineering plant cells to generate high‐quality therapeutic proteins for rare and specialty diseases.

The company’s first approved commercial product, ELELYSO® (taliglucerase alfa), received regulatory approval from the U.S.