In a report released today, Ram Selvaraju from H.C. Wainwright reiterated a Buy rating on Protalix Biotherapeutics (NYSE: PLX), with a price target of $4. The company’s shares closed on Friday at $0.49.
Selvaraju said:
“Valuation methodology, risks and uncertainties. Our model yields an rNPV of $213M for PRX-102 using a 15% discount rate and 75% probability of approval, accounting for the Chiesi partnership and receipt of royalties on PRX-102 sales globally.”
According to TipRanks.com, Selvaraju ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -3.0% and a 35.4% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as IntelliPharmaCeutics International, Biospecifics Technologies Corp, and EyePoint Pharmaceuticals Inc.
Protalix Biotherapeutics has an analyst consensus of Moderate Buy, with a price target consensus of $4.
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Based on Protalix Biotherapeutics’ latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $11.29 million. In comparison, last year the company had a net profit of $450K.
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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.
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