Auriga Reiterate a 'Buy' on Protalix BioTherapeutics (PLX); No Material Changes in 10-K
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Price: $2.22 -5.93%
Rating Summary:
3 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
3 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Auriga reiterates a 'Buy' on Protalix BioTherapeutics (NYSE: PLX) price target of $8.00.
Auriga analyst says, "Protalix reported its Q4 and full year 2011 results in a 10K filing. Like many other biotech companies, revenue is almost non-existent and, other than the expected ongoing R&D expense, there are few other expenses. The company is waiting for FDA approval of its lead product, Taliglucerase alfa, off its proprietary plant cell based manufacturing platform. The PDUFA date for this product is set for May 1, 2012. We believe there is an 80% probability for Taliglucerase alfa getting approval on May 1, 2012 while the current share price implies a 55% probability of approval. We expect this gap to close we get closer to the PDUFA date and recommend accumulating shares at this level."
For an analyst ratings summary and ratings history on Protalix BioTherapeutics click here. For more ratings news on Protalix BioTherapeutics click here.
Shares of Protalix BioTherapeutics closed at $5.34 yesterday.
Auriga analyst says, "Protalix reported its Q4 and full year 2011 results in a 10K filing. Like many other biotech companies, revenue is almost non-existent and, other than the expected ongoing R&D expense, there are few other expenses. The company is waiting for FDA approval of its lead product, Taliglucerase alfa, off its proprietary plant cell based manufacturing platform. The PDUFA date for this product is set for May 1, 2012. We believe there is an 80% probability for Taliglucerase alfa getting approval on May 1, 2012 while the current share price implies a 55% probability of approval. We expect this gap to close we get closer to the PDUFA date and recommend accumulating shares at this level."
For an analyst ratings summary and ratings history on Protalix BioTherapeutics click here. For more ratings news on Protalix BioTherapeutics click here.
Shares of Protalix BioTherapeutics closed at $5.34 yesterday.
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