H.C. Wainwright analyst Ram Selvaraju reiterated a Buy rating on Protalix Biotherapeutics (PLX) today and set a price target of $4. The company’s shares closed yesterday at $0.41, close to its 52-week low of $0.38.
Selvaraju observed:
“Valuation methodology, risks and uncertainties. Our model yields an rNPV of $280M for PRX-102 using a 15% discount rate and 75% probability of approval, accounting for the receipt of royalties on PRX-102 sales globally. We also ascribe an rNPV of $230M to alidornase alfa, a $100M rNPV for $50M rNPV for OPRX-106, translating into a price per share of $4.00. This assumes 149M shares outstanding as of end-2019.”
According to TipRanks.com, Selvaraju is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -14.0% and a 19.8% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Biospecifics Technologies Corp, EyePoint Pharmaceuticals Inc, and Bausch Health Companies Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Protalix Biotherapeutics with a $4 average price target.
See today’s analyst top recommended stocks >>
Based on Protalix Biotherapeutics’ latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $15.54 million. In comparison, last year the company had a GAAP net loss of $11.44 million.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Protalix Biotherapeutics, Inc. engages in the development and commercialization of recombinant therapeutic proteins based on ProCellEx plant cell based expression system. It offers Taliglucerase alfa injections under the brand name Elelyso, an enzyme replacement therapy for Gaucher disease.
