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.
Don’t Miss TipRanks’ Half-Year Sale
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Ram Selvaraju has given his Buy rating due to a combination of factors including Protalix’s strong financial performance and promising product outlook. The company’s revenue for 2024 showed a significant increase, primarily driven by sales to Chiesi Farmaceutici and other partners. This growth is attributed to the commercialization of their key asset, Elfabrio, which is approved in multiple territories for the treatment of Fabry disease. Elfabrio’s design for a longer half-life and reduced dosing frequency, along with its competitive pricing, positions it well in the market.
Additionally, Protalix’s financial structure is robust, having cleared its long-term debt and ending 2024 with a healthy cash reserve. The recent regulatory validation in Europe for a less frequent dosing regimen further enhances Elfabrio’s market potential. The company’s strategic moves and the anticipated growth in the Fabry disease market, with potential royalties from Elfabrio, support the optimistic outlook and justify the Buy rating.