Protalix BioTherapeutics (NYSE:PLX) Receives "Buy" Rating from HC Wainwright

Key Points

• HC Wainwright reiterated a "Buy" rating on Protalix with a $12.00 price target, implying a potential upside of about 443% from the prior close.
• PLX shares fell roughly 20.8%, trading near $2.21 with a market cap of $177.7 million and a 52‑week range of $1.32–$3.19.
• CEO Dror Bashan bought 56,000 shares at $1.81 (a 42.3% increase in his position); insiders own 6.5% of the stock while institutional investors hold about 16.53%, with several firms recently increasing positions.

Protalix BioTherapeutics (NYSE:PLX - Get Free Report)'s stock had its "buy" rating reissued by investment analysts at HC Wainwright in a research report issued on Thursday,Benzinga reports. They presently have a $12.00 price target on the stock. HC Wainwright's price target points to a potential upside of 442.99% from the company's previous close.

Protalix BioTherapeutics Stock Down 20.8%

PLX stock opened at $2.21 on Thursday. Protalix BioTherapeutics has a 52-week low of $1.32 and a 52-week high of $3.19. The stock has a market cap of $177.73 million, a price-to-earnings ratio of -17.00 and a beta of -0.26. The business has a fifty day moving average of $2.60 and a two-hundred day moving average of $2.19.

Insider Buying and Selling

In related news, CEO Dror Bashan bought 56,000 shares of the firm's stock in a transaction on Friday, December 19th. The shares were bought at an average price of $1.81 per share, with a total value of $101,360.00. Following the completion of the transaction, the chief executive officer directly owned 188,516 shares of the company's stock, valued at $341,213.96. This represents a 42.26% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 6.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Protalix BioTherapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in PLX. Geode Capital Management LLC increased its holdings in Protalix BioTherapeutics by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 830,054 shares of the company's stock valued at $1,494,000 after purchasing an additional 10,277 shares during the last quarter. State Street Corp boosted its position in shares of Protalix BioTherapeutics by 17.4% during the fourth quarter. State Street Corp now owns 585,261 shares of the company's stock worth $1,053,000 after buying an additional 86,714 shares during the period. Stratos Wealth Partners LTD. grew its stake in shares of Protalix BioTherapeutics by 42.9% in the third quarter. Stratos Wealth Partners LTD. now owns 500,000 shares of the company's stock valued at $1,110,000 after buying an additional 150,000 shares in the last quarter. Jane Street Group LLC raised its holdings in shares of Protalix BioTherapeutics by 159.0% in the 1st quarter. Jane Street Group LLC now owns 294,318 shares of the company's stock valued at $753,000 after buying an additional 180,702 shares during the period. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Protalix BioTherapeutics by 482.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 289,461 shares of the company's stock valued at $741,000 after buying an additional 239,751 shares during the period. 16.53% of the stock is owned by hedge funds and other institutional investors.

About Protalix BioTherapeutics

Protalix BioTherapeutics NYSE: PLX is a clinical‐stage biopharmaceutical company focused on the development and manufacturing of recombinant therapeutic proteins through its proprietary ProCellEx® plant cell–based expression system. Headquartered in Carmiel, Israel, with operations in the United States, the company leverages its technology platform to produce complex biologics in a cost‐effective and scalable manner. Protalix's core expertise lies in engineering plant cells to generate high‐quality therapeutic proteins for rare and specialty diseases.

The company's first approved commercial product, ELELYSO® (taliglucerase alfa), received regulatory approval from the U.S.

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