Protalix (PLX) AI Stock Analysis

• Market Cap: $166.47M
• Dividend Yield: N/A
• Average Volume (3M): 639.95K
• Price to Earnings (P/E): 30.2
• Beta (1Y): 0.57
• Revenue Growth: 35.42%
• EPS Growth: N/A
• Country: US
• Employees: 213
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): 0.03
• Shares Outstanding: 80,421,180
• 10 Day Avg. Volume: 845,749
• 30 Day Avg. Volume: 639,953
• PEG Ratio: -0.70
• Price to Book (P/B): 3.16
• Price to Sales (P/S): 2.55
• P/FCF Ratio: 18.45
• Enterprise Value/Market Cap: 0.95
• Enterprise Value/Revenue: 2.56
• Enterprise Value/Gross Profit: 4.45
• Enterprise Value/Ebitda: 17.84
• 1Y Price Target: $12.00
• Price Target Upside: 471.43% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): 0.47
• Revenue Forecast (FY): $99.33M

• Rating: 59 Neutral
• Price Target: $2.00 ▼(-4.76% Downside)

The score is driven primarily by improved profitability and a healthier balance sheet, but is held back by deteriorating TTM cash flow and shrinking revenue. Earnings-call updates were supportive (strong YTD revenue growth, positive quarterly income, adequate near-term cash) while technicals are modestly positive and valuation remains somewhat demanding.

Positive Factors

Balance Sheet Health

Protalix's capitalization has materially improved versus 2020–2022: positive equity and low debt reduce financial risk and improve funding flexibility. This stronger balance sheet supports sustained R&D and partnership investments and lowers refinancing pressure over the next 2–6 months.

Commercial Partnerships & Revenue Diversity

Long-term commercial partnerships (Pfizer, Fiocruz, Chiesi) provide predictable, durable revenue streams that de-risk the business model. Partner-supported product sales help stabilize cash flow while management advances pipeline assets, supporting operational resilience over multiple quarters.

Pipeline Advancement (PRX-115)

IND filing and Phase 2 initiation for PRX-115 represent a structural progression from discovery to mid-stage development. Successful clinical advancement can create a third commercial asset, diversify future revenue and justify elevated R&D, affecting company fundamentals over the medium term.

Negative Factors

Negative Trailing Cash Flow

Despite recent net income, TTM operating and free cash flow have swung negative, indicating cash burn or working-capital strain. Persistent negative cash conversion can erode reserves, force external financing, and constrain strategic flexibility across the coming quarters if not reversed.

Declining Revenue Trend

Sustained top-line declines weaken the revenue base that underpins margins and investment capacity. Continued shrinkage pressures margin sustainability and increases reliance on partnerships or cost reductions to maintain profitability, making growth recovery a key medium-term risk.

Regulatory Uncertainty for Elfabrio in Europe

A negative CHMP opinion on a four-week dosing regimen and pending re-examination create substantive regulatory risk for Elfabrio's label expansion in Europe. This uncertainty can limit market access, constrain peak uptake and partner commercial plans, affecting European revenue prospects over coming quarters.

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, Australia, Canada, Israel, Brazil, Russia, Turkey, and internationally. The company offers Elelyso for the treatment of Gaucher disease. Its product pipeline comprises PRX-102, a therapeutic protein candidate, which is in the last stage of clinical trials for the treatment of Fabry diseases; PRX-110, a proprietary plant cell recombinant form of human deoxyribonuclease I that has completed phase IIa clinical trials for the treatment of cystic fibrosis; PRX-115, a plant cell-expressed recombinant PEGylated Uricase for the treatment of gout; and PRX-119, a plant cell-expressed PEGylated recombinant human DNase I product candidate for the treatment of NETs-related diseases. The company has agreements and partnerships with Pfizer; Fundação Oswaldo Cruz (Fiocruz); and Chiesi Farmaceutici S.p.A. The company was founded in 1993 and is based in Hackensack, New Jersey.

How the Company Makes Money

Protalix generates revenue primarily through the sale of its products, notably Elelyso, which is marketed in collaboration with partners such as Pfizer. The company earns revenue from product sales, licensing agreements, and potential royalties from its collaborative partners. Additionally, Protalix may engage in research and development agreements with other companies or institutions, providing another revenue stream. Their financial performance is influenced by the successful commercialization of their therapies and the achievement of milestones in partnerships.

Protalix Financial Statement Overview

Summary

Protalix has shown significant improvement in profitability and cash flow generation, which are crucial for its financial stability. However, inconsistent revenue growth and high leverage remain concerns.

Income Statement

The company has demonstrated a positive turnaround in profitability over the last few years. Gross profit margins have been healthy, and there was a notable improvement in net income, moving from losses to profits recently. However, revenue growth has been inconsistent with a decline in the latest period, and EBIT margins are still relatively low, indicating room for operational improvements.

Balance Sheet

Protalix's balance sheet shows a significant reduction in total debt, which is a positive sign for financial health. The equity position has improved from negative to positive, enhancing the equity ratio. However, the debt-to-equity ratio is still high, indicating potential leverage risks. The company needs to continue strengthening its equity to mitigate these risks further.

Cash Flow

The company has shown a strong improvement in cash flow, moving from negative free cash flow to positive in the latest period. The operating cash flow to net income ratio indicates a healthy conversion of profits into cash. However, the free cash flow growth rate is volatile, suggesting potential fluctuations in cash generation capabilities.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	61.84M	53.40M	65.49M	47.64M	38.35M	62.90M
Gross Profit	35.58M	29.08M	42.51M	28.05M	22.00M	52.02M
EBITDA	8.87M	6.52M	12.94M	-10.78M	-18.94M	4.45M
Net Income	5.39M	2.93M	8.31M	-14.93M	-27.58M	-6.52M
Balance Sheet
Total Assets	82.26M	73.42M	84.43M	55.79M	73.67M	67.93M
Cash, Cash Equivalents and Short-Term Investments	29.37M	34.83M	44.56M	22.18M	38.98M	38.55M
Total Debt	8.18M	5.53M	27.69M	33.47M	33.47M	64.40M
Total Liabilities	29.36M	30.21M	50.87M	66.43M	79.70M	94.97M
Stockholders Equity	52.91M	43.21M	33.57M	-10.64M	-6.04M	-27.04M
Cash Flow
Free Cash Flow	-11.69M	7.39M	-2.47M	-25.63M	-11.74M	-26.76M
Operating Cash Flow	-10.03M	8.67M	-1.32M	-25.00M	-10.29M	-26.11M
Investing Cash Flow	-16.57M	4.22M	-16.71M	-5.04M	18.92M	-19.95M
Financing Cash Flow	12.81M	-16.79M	24.67M	8.24M	12.08M	46.47M

Protalix Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 2.10
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For PLX, the sentiment is Positive. The current price of 2.1 is above the 20-day moving average (MA) of 1.82, above the 50-day MA of 1.89, and above the 200-day MA of 1.91, indicating a bullish trend. The MACD of 0.03 indicates Negative momentum. The RSI at 67.26 is Neutral, neither overbought nor oversold. The STOCH value of 88.28 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for PLX.

Protalix Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
PLX	59 Neutral	$166.47M	30.22	12.64%	―	35.42%	―
SLS	56 Neutral	$492.85M	-14.33	-84.33%	―	―	59.04%
FBRX	56 Neutral	$299.14M	-6.67	-110.72%	―	―	77.08%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
IPHA	49 Neutral	$166.48M	-3.05	-271.32%	―	-75.77%	-31.24%
TARA	48 Neutral	$296.88M	-3.63	-49.42%	―	―	48.84%
CHRS	47 Neutral	$204.27M	―	―	―	-72.54%	-19972.15%

Protalix Corporate Events

Protalix outlines 2026 rare-disease growth and pipeline strategy

On January 5, 2026, Protalix BioTherapeutics released a letter to stockholders outlining its strategy to build a growing, profitable rare-disease business anchored by commercial partnerships and an expanding pipeline. Management highlighted solid 2025 commercial execution with partner Chiesi for Elfabrio in Fabry disease, with patient metrics and market share in the U.S., EU and other markets tracking to plan, and reiterated expectations that Elfabrio could capture 15–20% of a global Fabry market projected at about $3.4 billion by 2030. The company noted that a re-examination of the European regulator’s November 2025 negative opinion on an every‑four‑weeks Elfabrio dosing regimen is underway, with an appeal decision expected in the first quarter of 2026, while the existing bi‑weekly label remains unaffected. Protalix also pointed to steady, durable revenue contributions from Elelyso through its partnerships with Pfizer and Brazil’s Fiocruz as key supports for operating resilience. On the pipeline side, Protalix emphasized PRX‑115 for uncontrolled gout as a potential third commercial molecule, citing Phase 1 data showing rapid, durable urate-lowering with a favorable tolerability profile and the October 2025 U.S. IND clearance enabling a Phase 2 trial with initial sites already activated. In parallel, the company is sharpening its focus on rare kidney diseases, advancing PRX‑119, a long‑acting DNase I candidate targeting inflammation and fibrosis, and pursuing an AI‑enabled RNA-based collaboration with Secarna Pharmaceuticals to develop novel therapies for rare renal indications. Entering 2026, Protalix framed its outlook around three priorities: supporting Chiesi’s Elfabrio commercialization, advancing PRX‑115 in uncontrolled gout, and progressing its rare renal programs, aiming to limit downside risk while preserving meaningful upside for patients, partners and shareholders.

The most recent analyst rating on (PLX) stock is a Buy with a $12.00 price target. To see the full list of analyst forecasts on Protalix stock, see the PLX Stock Forecast page.

Protalix Seeks EMA Re-examination for Elfabrio Dosing

On November 3, 2025, Protalix BioTherapeutics and Chiesi Global Rare Diseases announced their request for a re-examination of the European Medicines Agency’s negative opinion on the proposed dosing regimen for Elfabrio, a treatment for Fabry disease. The existing marketing authorization for Elfabrio remains in effect while the re-examination is underway, highlighting the companies’ commitment to addressing the needs of the Fabry community.

The most recent analyst rating on (PLX) stock is a Hold with a $2.50 price target. To see the full list of analyst forecasts on Protalix stock, see the PLX Stock Forecast page.

Protalix Faces EMA Setback on Elfabrio® Dosing

On October 17, 2025, Protalix BioTherapeutics and its partner Chiesi Global Rare Diseases announced that the European Medicines Agency’s Committee for Medicinal Products for Human Use issued a negative opinion on the proposed dosing regimen for Elfabrio®. This decision may impact the company’s market strategy and regulatory approach for Elfabrio® in Europe, potentially affecting stakeholders and future commercial plans.

The most recent analyst rating on (PLX) stock is a Hold with a $2.00 price target. To see the full list of analyst forecasts on Protalix stock, see the PLX Stock Forecast page.