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UPDATE: Jefferies & Company Reiterates Hold Rating, Lowers PT on Protalix BioTherapeutics

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In a report published Friday, Jefferies & Company reiterated its Hold rating on Protalix BioTherapeutics (NYSE: PLX), but slightly lowered its price target from $6.00 to $5.50.

Jefferies noted, “Narrower 3Q12 net loss of $5.5M on $5.4M revenue and ~22% lower OpEx (vs. ours of $14M). While PLX booked profit share on Elelyso sales from PFE in 3Q12 revenue (amount undisclosed), we await visibility on U.S./Israel launch progress for Elelyso in Gaucher Disease (GD). Given high hurdles to Elelyso commercialization, including established market presence of Cerezyme/Vpriv (no supply shortage), we maintain our Hold rating.”

Protalix BioTherapeutics closed on Thursday at $4.86.

Latest Ratings for PLX

DateFirmActionFromTo
May 2014JP MorganMaintainsOverweight
May 2014JefferiesMaintainsHold
Jan 2014RF Lafferty & Co.Initiates Coverage onBuy

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