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Protalix Biotherapeutics (PLX) Receives a Buy from H.C. Wainwright


H.C. Wainwright analyst Ram Selvaraju reiterated a Buy rating on Protalix Biotherapeutics (NYSE: PLX) today and set a price target of $4. The company’s shares closed yesterday at $0.65.

Selvaraju noted:

“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 receipt of royalties on PRX-102 sales globally. We also ascribe an rNPV of $200M to alidornase alfa, a $100M rNPV for $50M rNPV for OPRX-106, translating into a price per share of $4.00. This assumes 148M shares outstanding as of end-2Q 2019.”

According to TipRanks.com, Selvaraju is a 1-star analyst with an average return of 0.0% and a 35.6% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Biospecifics Technologies Corp, Bausch Health Companies Inc, and Synergy Pharmaceuticals 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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The company has a one-year high of $0.92 and a one-year low of $0.38. Currently, Protalix Biotherapeutics has an average volume of 910.9K.

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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.