H.C. Wainwright Reiterates Their Buy Rating on Protalix Biotherapeutics (PLX)

In a report released today, Ram Selvaraju from H.C. Wainwright reiterated a Buy rating on Protalix Biotherapeutics (PLX), with a price target of $3. The company’s shares closed yesterday at $0.48.

According to TipRanks.com, Selvaraju is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -4.8% and a 36.9% 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.

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Based on Protalix Biotherapeutics’ latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $9.78 million. In comparison, last year the company had a GAAP net loss of $15.14 million.

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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.