Protalix price target raised to $10 from $7 at H.C. Wainwright

H.C. Wainwright raised the firm’s price target on Protalix BioTherapeutics to $10 from $7 and keeps a Buy rating on the shares. The analyst says Elfabrio is likely to take market share from Fabrazyme in the U.S. and from both Fabrazyme and Replagal in Europe, given its “superior characteristics.” The firm expects Elfabrio to be deployed aggressively by Chiesi’s rare disease unit, particularly since the orphan drug arena represents a high-priority opportunity for the company.