Is Protalix BioTherapeutics Inc. (PLX) A Good Investment?

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Protalix BioTherapeutics Inc. (AMEX:PLX) traded with an addition of $0.03 to close at $1.24 on Thursday, an upside of 2.80 percent. An average of 417,542 shares of common stock have been traded in the last five days. There was a fall of -$0.0450 in the past week, and it reached a new high 9 times over the past 12 months. The last 20 days have seen an average of 374,275 shares traded, while the 50-day average volume stands at 224,762.

PLX stock has increased by 9.01% in the last month. The company shares reached their 1-month lowest point of $1.0700 on 11/30/22. With the stock rallying to its 52-week high on 04/04/22, shares of the company touched a low of $0.70 and a high of $2.00 in 52 weeks. It has reached a new high 7 times so far this year and achieved 45.49% or $0.4033 in price. In spite of this, the price is down -37.81% from the 52-week high.

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Its gross profit as reported stood at $22.0 million compared to revenue of $38.35 million.

Earnings Surprise

In the quarter under review, the net income was up than the previous quarter. The company posted a net income of -$3.57 million in the quarter, while revenues of -$5.33 million were shrunk -17.65%. The analyst consensus anticipated Protalix BioTherapeutics Inc.’s latest quarter earnings to come in at -$0.15 per share, but it turned out to be -$0.07, a 53.30% surprise. For the quarter, EBITDA amounted to -$2.77 million. Shareholders own equity worth $50.67 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at Protalix BioTherapeutics Inc. (PLX) price momentum. RSI 9-day as of the close on 28 December was 60.83%, suggesting the stock is Neutral, with historical volatility in this time frame at 68.78%.

As of today, PLX’s price is $1.2010 -3.52% or -$0.0450 from its 5-day moving average. PLX is currently trading +12.27% higher than its 20-day SMA and +11.26% higher than its 100-day SMA. However, the stock’s current price level is +18.75% above the SMA50 and +41.95% above the SMA200.

The stochastic %K and %D were 40.48% and 33.07%, respectively, and the average true range (ATR) was 0.0581. With the 14-day stochastic at 50.00% and the average true range at 0.0561, the RSI (14) stands at 60.46%. The stock has reached 0.0012 on the 9-day MACD Oscillator while the 14-day reading was at 0.0233.

Analyst Ratings

H.C. Wainwright reiterated its a Buy rating on Protalix BioTherapeutics Inc. (AMEX: PLX), but raised their price target to $3, indicating a potential price increase of 58.67% for the stock. The consensus rating for Protalix BioTherapeutics Inc. (PLX) among analysts is Buy. According to current brokerage recommendations, 0 brokerage firms advise that investors sell PLX, while 0 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 1 others rate it as a “buy”.

What is PLX’s price target for the next 12 months?

Analysts predict a range of price targets between $11.00 and $11.00, with a median target of $11.00. Taking a look at these predictions, the average price target given by analysts for Protalix BioTherapeutics Inc. (PLX) stock is $11.00.

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