Protalix BioTherapeutics (NYSE:PLX) Trading Up 1.7%

Protalix BioTherapeutics, Inc. (NYSE:PLX)’s share price shot up 1.7% during mid-day trading on Tuesday . The stock traded as high as $1.24 and last traded at $1.20. 272,095 shares changed hands during trading, a decline of 18% from the average session volume of 330,242 shares. The stock had previously closed at $1.18.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut Protalix BioTherapeutics from a “buy” rating to a “hold” rating in a report on Friday, March 15th.

Protalix BioTherapeutics Price Performance

The company has a 50-day simple moving average of $1.35 and a 200-day simple moving average of $1.49. The firm has a market cap of $87.66 million, a PE ratio of 24.00 and a beta of 0.89.

Protalix BioTherapeutics (NYSE:PLX) last posted its quarterly earnings results on Thursday, March 14th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.04). Protalix BioTherapeutics had a net margin of 12.69% and a return on equity of 29.73%. The company had revenue of $10.49 million for the quarter, compared to the consensus estimate of $8.15 million. As a group, equities research analysts predict that Protalix BioTherapeutics, Inc. will post 0.14 earnings per share for the current year.

Hedge Funds Weigh In On Protalix BioTherapeutics

Large investors have recently made changes to their positions in the business. Barclays PLC increased its position in shares of Protalix BioTherapeutics by 561.5% during the second quarter. Barclays PLC now owns 13,230 shares of the company’s stock worth $26,000 after purchasing an additional 11,230 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Protalix BioTherapeutics during the third quarter worth $50,000. Bailard Inc. acquired a new position in shares of Protalix BioTherapeutics during the fourth quarter worth $121,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Protalix BioTherapeutics during the third quarter worth $229,000. Finally, Bank of New York Mellon Corp grew its holdings in shares of Protalix BioTherapeutics by 12.8% during the third quarter. Bank of New York Mellon Corp now owns 165,680 shares of the company’s stock valued at $275,000 after buying an additional 18,760 shares during the last quarter. 16.53% of the stock is owned by institutional investors and hedge funds.

Protalix BioTherapeutics Company Profile

Protalix BioTherapeutics, Inc, a biopharmaceutical company, engages in the development, production, and commercialization of recombinant therapeutic proteins based on its proprietary ProCellEx plant cell-based protein expression system in the United States, Australia, Canada, Israel, Brazil, Russia, Turkey, and internationally.