Protalix Biotherapeutics (PLX)
XASE:PLX
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Protalix
(NYSE MKT:PLX)
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Rating:68Neutral
Price Target:
$2.00
▼(-13.79% Downside)
Action:Reiterated
Date:05/21/26
The score is driven primarily by improving fundamentals (strong TTM growth, profitability, and positive free cash flow alongside low leverage) and a very low P/E valuation. These positives are tempered by weak technical momentum and business volatility, including recent product-sales softness and uncertainty around the timing of commercial uptake and pipeline execution.
Positive Factors
Improved margins & FCF
A sustained step-up in gross and net margins alongside positive trailing‑12‑month free cash flow indicates the business can convert incremental revenue into cash. This strengthens the firm's ability to fund operations and trials internally and reduces near‑term financing dependence over the next 2–6 months.
Negative Factors
Historic earnings & cash volatility
Material swings between loss years and profitable periods indicate inconsistent underlying operating performance. That volatility reduces confidence in the durability of margins and cash conversion, raising execution risk for sustaining growth and funding multi‑year programs without reliance on milestones.
Read all positive and negative factors
Positive Factors
Negative Factors
Improved margins & FCF
A sustained step-up in gross and net margins alongside positive trailing‑12‑month free cash flow indicates the business can convert incremental revenue into cash. This strengthens the firm's ability to fund operations and trials internally and reduces near‑term financing dependence over the next 2–6 months.
Read all positive factors
Protalix (PLX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$169.20M
Dividend YieldN/A
Average Volume (3M)774.93K
Price to Earnings (P/E)2.4
Beta (1Y)0.66
Revenue Growth27.80%
EPS Growth268.45%
CountryUS
Employees213
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)0.19
Shares Outstanding80,571,640
10 Day Avg. Volume1,012,681
30 Day Avg. Volume774,935
Financial Highlights & Ratios
PEG Ratio0.07
Price to Book (P/B)2.93
Price to Sales (P/S)2.68
P/FCF Ratio-10.37
Enterprise Value/Market Cap0.80
Enterprise Value/Revenue1.78
Enterprise Value/Gross Profit2.54
Enterprise Value/Ebitda6.38
Forecast
1Y Price Target
$12.00Price Target Upside417.24% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)0.22
Revenue Forecast (FY)$79.05M
Protalix Business Overview & Revenue Model
Company Description
Protalix BioTherapeutics, Inc., a biopharmaceutical company, focuses on the development and commercialization of recombinant therapeutic proteins based on its proprietary ProCellEx plant cell-based protein expression system in the United States, A...
How the Company Makes Money
Protalix generates revenue primarily from (1) sales and profit-sharing/economic participation tied to its marketed product Elelyso (taliglucerase alfa) for Gaucher disease, and (2) collaboration-related income such as milestone payments and other ...
Protalix Earnings Call Summary
Earnings Call Date:May 13, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 17, 2026
Earnings Call Sentiment Positive
The call conveyed a predominantly positive financial and operational picture driven by a $25 million milestone that produced Q1 profitability and strengthened the balance sheet to $51 million in cash. Management reaffirmed 2026 guidance and highlighted commercial and regulatory progress for Elfabrio and continued advancement of the PRX-115 program. Offsetting risks include a notable decline in product sales quarter-over-quarter (-26% in selling goods), increased R&D spend (+54%), and timing/visibility uncertainties tied to Chiesi reimbursement rollouts and trial enrollment pace. Overall, the positives (milestone, cash position, profitability, reaffirmed guidance, and clinical progress) materially outweigh the near-term revenue timing and expense increases.Positive Updates
Milestone Payment and Cash Position
Received a $25.0 million milestone from Chiesi following European Commission approval of Elfabrio every-4-weeks dosing; ended Q1 2026 with $51.0 million in cash, cash equivalents and short-term bank deposits, and no outstanding debt or warrants, providing substantial financial flexibility.
Negative Updates
Decline in Product Sales (Selling Goods)
Revenues from selling goods were $7.4 million in Q1 2026 versus $10.0 million in Q1 2025, a decline of $2.6 million (approximately -26%), driven mainly by lower Elelyso purchases by Pfizer and Fiocruz due to timing and inventory dynamics.
Read all updates
Q1-2026 Updates
Positive
Negative
Milestone Payment and Cash Position
Received a $25.0 million milestone from Chiesi following European Commission approval of Elfabrio every-4-weeks dosing; ended Q1 2026 with $51.0 million in cash, cash equivalents and short-term bank deposits, and no outstanding debt or warrants, providing substantial financial flexibility.
Read all positive updates
Company Guidance
Protalix reaffirmed 2026 guidance calling for $78–83 million in total revenue (inclusive of a $25 million Chiesi milestone), with Elfabrio revenues excluding milestones of roughly $33–35 million and Elelyso revenues of about $20–23 million; the company reported Q1 revenue of $33.8 million (including the $25M milestone), selling goods of $7.4M, cost of revenues $4.1M, R&D $5.4M, SG&A $3.1M, net income $18.3M (EPS $0.23, $0.22 diluted), $51M in cash as of March 31, 2026 with no debt or warrants, expects Chiesi-driven Elfabrio uptake to strengthen in H2 2026, targets PRX‑115 enrollment completion by end‑2026 and topline results in H2 2027, and is targeting 15–20% market share for Elfabrio in a Fabry market projected at ~$3.2B by 2031.Protalix Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
78
Positive
Cash Flow
60
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 76.38M | 52.74M | 53.40M | 65.49M | 47.64M | 38.35M |
| Gross Profit | 53.44M | 25.24M | 29.08M | 42.51M | 28.05M | 22.00M |
| EBITDA | 21.31M | -4.04M | 6.52M | 12.94M | -10.78M | -18.94M |
| Net Income | 15.33M | -6.60M | 2.93M | 8.31M | -14.93M | -27.58M |
Balance Sheet | ||||||
| Total Assets | 102.34M | 82.35M | 73.42M | 84.43M | 55.79M | 73.67M |
| Cash, Cash Equivalents and Short-Term Investments | 51.79M | 30.27M | 34.83M | 44.56M | 22.18M | 38.98M |
| Total Debt | 8.48M | 8.32M | 5.53M | 27.69M | 33.47M | 33.47M |
| Total Liabilities | 35.11M | 34.12M | 30.21M | 50.87M | 66.43M | 79.70M |
| Stockholders Equity | 67.23M | 48.23M | 43.21M | 33.57M | -10.64M | -6.04M |
Cash Flow | ||||||
| Free Cash Flow | 14.63M | -13.63M | 7.39M | -2.47M | -25.63M | -11.74M |
| Operating Cash Flow | 15.09M | -11.99M | 8.67M | -1.32M | -25.00M | -10.29M |
| Investing Cash Flow | 2.17M | -2.37M | 4.22M | -16.71M | -5.04M | 18.92M |
| Financing Cash Flow | 4.40M | 9.33M | -16.79M | 24.67M | 8.24M | 12.08M |
Protalix Technical Analysis
Neutral
2.32
Price Trends
2.17
Negative
2.34
Negative
2.13
Negative
Market Momentum
-0.06
Negative
52.24
Neutral
57.47
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For PLX, the sentiment is Neutral. The current price of 2.32 is above the 20-day moving average (MA) of 2.02, above the 50-day MA of 2.17, and above the 200-day MA of 2.13, indicating a neutral trend. The MACD of -0.06 indicates Negative momentum. The RSI at 52.24 is Neutral, neither overbought nor oversold. The STOCH value of 57.47 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for PLX.
Protalix Risk Analysis
Protalix disclosed 64 risk factors in its most recent earnings report. Protalix reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Protalix Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | $169.20M | 2.36 | 28.10% | ― | 27.80% | 268.45% | |
56 Neutral | $1.41B | ― | -47.12% | ― | ― | 41.60% | |
55 Neutral | $276.52M | ― | -38.70% | ― | ― | 21.65% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
51 Neutral | $178.78M | -1.23 | 593.93% | ― | -77.09% | 6.91% | |
50 Neutral | $248.34M | -1.52 | -174.71% | ― | -76.26% | -9.93% | |
45 Neutral | $423.07M | -52.18 | -106.16% | ― | ― | 63.03% |
* Healthcare Sector Average
PLX
Protalix
2.10
0.48
29.63%
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Protalix Corporate Events
Business Operations and StrategyProduct-Related Announcements
Protalix Highlights Elfabrio Dosing Approvals and Growth Plans
Positive
May 21, 2026
On May 21, 2026, Protalix BioTherapeutics posted a new corporate presentation outlining recent regulatory and commercial progress, including a $25 million milestone payment from partner Chiesi. The company highlighted European Commission and U.K. ...
Business Operations and StrategyProduct-Related AnnouncementsRegulatory Filings and Compliance
Protalix Gains EU Approval for Extended Elfabrio Dosing
Positive
Mar 9, 2026
On March 9, 2026, Protalix BioTherapeutics and its partner Chiesi Global Rare Diseases announced that the European Commission approved a 2 mg/kg every‑four‑weeks dosing regimen for Elfabrio (pegunigalsidase alfa) in adults with Fabry d...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.