Protalix BioTherapeutics Inc. (NYSE:PLX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.

According to Zacks, “Protalix is a biopharmaceutical company focused on the development and commercialization of recombinant therapeutic proteins expressed through its proprietary plant cell-based expression system, ProCellEx(R). Protalix’s unique expression system presents a proprietary method for developing recombinant proteins in a cost-effective, industrial-scale manner. Protalix’s first product manufactured by ProCellEx, taliglucerase alfa, was approved for marketing by the U.S. Food and Drug Administration (FDA) in May 2012 and, subsequently, by the regulatory authorities of other countries. Protalix has licensed to Pfizer Inc. the worldwide development and commercialization rights for taliglucerase alfa, excluding Brazil, where Protalix retains full rights. “

Several other research firms have also commented on PLX. Jefferies Group decreased their price target on shares of Protalix BioTherapeutics from $1.75 to $0.80 and set a “buy” rating for the company in a report on Tuesday, September 6th. Rodman & Renshaw reaffirmed a “buy” rating on shares of Protalix BioTherapeutics in a report on Monday, July 11th.

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Shares of Protalix BioTherapeutics (NYSE:PLX) traded down 1.7155% on Wednesday, reaching $0.5901. 26,680 shares of the company’s stock were exchanged. Protalix BioTherapeutics has a 1-year low of $0.58 and a 1-year high of $1.43. The stock’s 50-day moving average price is $0.62 and its 200-day moving average price is $0.74. The company has a market capitalization of $58.87 million and a P/E ratio of 1.1662.

Protalix BioTherapeutics (NYSE:PLX) last posted its quarterly earnings results on Monday, August 8th. The company reported ($0.11) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by $0.03. The firm had revenue of $1.77 million for the quarter, compared to analyst estimates of $1.34 million. During the same period in the previous year, the business earned ($0.05) earnings per share. Analysts anticipate that Protalix BioTherapeutics will post ($0.41) EPS for the current fiscal year.

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