H.C. Wainwright maintained its Protalix BioTherapeutics Inc. [AMEX:PLX] rating to the equivalent of Buy but changed the price target to $11, in a research note dated December 31, 2020. That figure represents around a 212.5% premium from where the company’s shares closed on Wednesday. Other analysts also revised their coverage, with H.C. Wainwright’s analysts reiterating the shares to “a Buy” rating in a research note to investors issued in early June. Meanwhile, Rodman & Renshaw had maintained its rating on PLX to the earlier “Buy” rating, in a research note produced for clients April 17, 2017. In addition, there was a new coverage from Rodman & Renshaw on April 04, 2016. The research firm rated PLX “a Buy”.
Is Protalix BioTherapeutics Inc. [AMEX:PLX] a Good Buy Right Now?
It should be noted that PLX technical indicators for short, intermediate as well as long term progress have placed an overall average of 24% as Sell. The average signal changed from 8% Sell in the last week and compares with 32% Buy in the past month. Data from Protalix BioTherapeutics Inc.’s Trend Spotter indicated that the signals were Weakening. The stock current average is 0.19 million shares in the past 20 days and the short term average signal indicates a Hold. In the last 50 days, the average trading volume was 0.14 million shares while the medium term average advocated for 50% Sell. The average long-term signal stands at Hold and the 100-day average volume stands at 0.14 million shares.
PLX Price Performance
On Wall Street, Protalix BioTherapeutics Inc. [AMEX:PLX] finished Wednesday’s session up 1.15% at $3.52. The stock went up to $3.76 at the same session while its lowest single day price was $3.45. In the last five days, it saw a rise of about 1.44%, Protalix BioTherapeutics Inc. shares gained by almost 7.32% since the beginning of the year. However, the share price has dropped to as low as -27.65% below its one year high. On 04/29/20, the company shares recorded $4.86, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 03/16/20, the same year at $2.04. The company’s shares have inclined by 7.32% in the past year. The 50-day SMA achieved is $3.54 while the 200-day SMA is $3.48. Volume gained to 0.57 million from 0.15 million in the previous session.
PLX Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 3.39 level, and in case of violation of this particular level, it will cause more drop to 3.27 level. On the upper level, 3.89 is still the key resistance. The stock may increase to the subsequent resistance at 3.70. The Relative Strength Index (RSI) pinned on the 14-day chart is 48.35, implying a neutral technical stance while the MACD stands at -0.04, meaning price will decrease in the next trading period. Percent R indicator moved to 64.00%, implying low price movement. Stochastic %K at 36.00% suggest selling the stock.
What is the short interest in Protalix BioTherapeutics Inc.?
Short interest in the Protalix BioTherapeutics Inc. stock has plunged, decreasing by -0.15 million shares to total 0.28 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 0.13 million, data from Yahoo Finance shows. The increase of 53.66% suggests the stock saw some increased bearish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 0.86% of the overall float for the stock.
Protalix BioTherapeutics Inc.’s Biggest Shareholders: Who Owns Protalix BioTherapeutics Inc. [PLX]?
Filings by Highbridge Capital Management LLC showed that the firm now holds a total of 2,414,487 shares or roughly 7.24% of the outstanding PLX shares. This means their shares have reduced by 0 from the 2,414,487 the investor reportedly held in its prior 13-F filing. With the conclusion of the sale, Renaissance Technologies LLC updated stake is worth $1,760,299. Details in the latest 13F filings reveal that Psagot Mutual Funds Ltd. disposed off their 0.00% stake valued at $1,688,215 while Medical Strategy GmbH cut theirs at $1,484,824.
PLX Earnings Forecast For The Current Quarter
Protalix BioTherapeutics Inc. [PLX] is expected to report weak earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $11.98M and an earnings per share of -$0.08 for Dec 2020. Looking further ahead, the company is expected to report revenue of $16.1M at an EPS of -$0.02 for Mar 2021. The estimates represent downside of 9.40% and 102.60% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
PLX Earnings Estimates For The Current Year
For the financial year, Protalix BioTherapeutics Inc. [AMEX:PLX] is expected to bring in revenue of $55.31M. The returns are nearly $0.62 million higher than the company’s actual revenue recorded in the fiscal year 2019. In terms of EPS for the 2020, estimate put it at -0.39, higher than that of FY19 by $0.84. Estimates put this year’s earnings growth at 68.30%, 102.60% for the next, and at an annual 25.00% over the next 5-year period. As for sales, forecasts are for an increase of 1.10% in the current fiscal year and a further 9.40% over the following year.