Protalix’s Growth Potential: Buy Rating Backed by Elfabrio’s Market Expansion and Promising PRX-115 Development

Ram Selvaraju, an analyst from H.C. Wainwright, reiterated the Buy rating on Protalix (PLX – Research Report). The associated price target remains the same with $15.00.

Ram Selvaraju has given his Buy rating due to a combination of factors. Protalix’s key product, Elfabrio, which is used for treating Fabry disease, has been approved in 23 territories and shows potential for strong revenue growth. Despite a shortfall in first-quarter revenues, the company’s partnership with Chiesi Global Rare Diseases is expected to drive commercial success, with projected revenues of $61.2 million in 2025 and $93.5 million in 2026. Additionally, Protalix’s financial position is robust, with $34.7 million in cash and short-term deposits, providing a solid foundation for future operations.
Another factor influencing the Buy rating is the promising development of PRX-115, a treatment for uncontrolled gout. The successful completion of a Phase 1 trial suggests that PRX-115 could offer effective uric acid-lowering treatment with a potentially wide dosing interval, enhancing patient compliance. As Protalix prepares for a Phase 2 trial, this asset is seen as a valuable addition to the company’s portfolio, with the potential to compete with existing treatments in a larger market. This combination of current and future product potential underpins the positive outlook for Protalix’s stock.