Protalix BioTherapeutics (NYSE:PLX) Given “Buy” Rating at HC Wainwright

Protalix BioTherapeutics (NYSE:PLX)‘s stock had its “buy” rating reiterated by investment analysts at HC Wainwright in a report issued on Wednesday, Benzinga reports. They presently have a $12.00 price target on the stock. HC Wainwright’s target price indicates a potential upside of 360.65% from the company’s current price.

Protalix BioTherapeutics Stock Performance

Shares of NYSE:PLX traded down $0.04 during trading on Wednesday, hitting $2.60. The company’s stock had a trading volume of 148,646 shares, compared to its average volume of 919,864. The business has a 50 day moving average price of $2.41 and a two-hundred day moving average price of $2.33. The company has a market capitalization of $209.89 million, a PE ratio of -20.04 and a beta of 0.02. Protalix BioTherapeutics has a fifty-two week low of $1.60 and a fifty-two week high of $3.19.

Hedge Funds Weigh In On Protalix BioTherapeutics

Institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. acquired a new stake in Protalix BioTherapeutics in the second quarter valued at approximately $9,429,000. Geode Capital Management LLC grew its holdings in Protalix BioTherapeutics by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 830,054 shares of the company’s stock worth $1,494,000 after acquiring an additional 10,277 shares in the last quarter. State Street Corp grew its holdings in Protalix BioTherapeutics by 17.4% during the 4th quarter. State Street Corp now owns 585,261 shares of the company’s stock worth $1,053,000 after acquiring an additional 86,714 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Protalix BioTherapeutics by 932.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 296,843 shares of the company’s stock valued at $644,000 after purchasing an additional 268,099 shares during the last quarter. Finally, Jane Street Group LLC increased its position 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 purchasing an additional 180,702 shares during the last quarter. 16.53% of the stock is owned by institutional investors and hedge funds.

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.