Ram Selvaraju, an analyst from H.C. Wainwright, reiterated the Buy rating on Protalix. The associated price target remains the same with $15.00.
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Ram Selvaraju has given his Buy rating due to a combination of factors including Protalix’s strong sales performance and promising product pipeline. The company reported significant revenue from its product Elfabrio, an enzyme replacement therapy for Fabry disease, which is being commercialized in 23 territories globally. This product has shown strong demand, as evidenced by the rise in royalty-based revenue, and is expected to continue contributing significantly to Protalix’s financial growth.
Additionally, Protalix’s development of PRX-115, a potential treatment for uncontrolled gout, adds to the company’s value proposition. Having completed a successful Phase 1 trial, PRX-115 is poised to enter Phase 2, with promising preliminary results indicating its potential effectiveness and patient compliance benefits. This asset, along with the growing market for enzyme replacement therapies, positions Protalix for substantial future growth, supporting Selvaraju’s Buy rating and the 12-month price target of $15.
Selvaraju covers the Healthcare sector, focusing on stocks such as Cognition Therapeutics, Axsome Therapeutics, and Urogen Pharma. According to TipRanks, Selvaraju has an average return of 23.1% and a 54.71% success rate on recommended stocks.