Wells Fargo Downgrades Protalix (PLX) to Market Perform

June 25, 2012 7:55 AM EDT
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Wells Fargo's Brian Abrahams downgraded shares of Protalix BioTherapeutics (NYSE: PLX) from Outperform to Market Perform Monday morning. The analyst's valuation range was lowered from $9-$11 to $6-$8.

Abrahams lowered his likelihood of European approval for the company's Elelyso to 30 percent following the CHMP's decision not to recommend approval of the candidate "despite its favorable clinical benefit..."

For an analyst ratings summary and ratings history on Protalix BioTherapeutics click here. For more ratings news on Protalix BioTherapeutics click here.

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