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Protalix Biotherapeutics (PLX)
:PLX
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Protalix
(NYSE MKT:PLX)
Rating:57Neutral
Price Target:
$1.50
▼( -9.09% Downside)
Positive Factors
Financial Performance
Capital structure now looks exceptionally clean, with no remaining long-term debt outstanding.
Market Opportunity
Protalix's management indicated that the total Fabry disease market opportunity may raise significantly by 2030, with potential substantial royalty streams from Elfabrio.
Regulatory Approval
Elfabrio is approved across 23 territories globally for the treatment of Fabry disease and offers safety and convenience advantages.
Negative Factors
Drug Side Effects
PRX–115 was found to be well-tolerated, with only 25% of the subjects treated with PRX–115 in the study having reported study drug-related adverse events, the majority of which were mild to moderate and transient in nature.
Protalix (PLX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$136.92M
Dividend YieldN/A
Average Volume (3M)1.19M
Price to Earnings (P/E)40.7
Beta (1Y)0.47
Revenue Growth0.18%
EPS Growth-55.15%
CountryUS
Employees213
SectorHealthcare
Sector Strength43
IndustryBiotechnology
Share Statistics
EPS (TTM)-0.05
Shares Outstanding79,607,120
10 Day Avg. Volume2,028,934
30 Day Avg. Volume1,189,063
Financial Highlights & Ratios
PEG Ratio0.02
Price to Book (P/B)1.74
Price to Sales (P/S)0.00
P/FCF Ratio-85.11
Enterprise Value/Market Cap0.87
Enterprise Value/Revenue0.60
Enterprise Value/Gross Profit4.25
Enterprise Value/Ebitda-90.35
Forecast
1Y Price Target
$15.00Price Target Upside809.09% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
Protalix Business Overview & Revenue Model
Company DescriptionProtalix BioTherapeutics, Inc. is a biopharmaceutical company focused on the development and commercialization of recombinant therapeutic proteins expressed through its proprietary plant cell-based protein expression system, ProCellEx. Operating within the biotechnology and pharmaceutical sectors, Protalix's core products and services include the development of treatments for rare diseases, such as Fabry disease, and other therapeutic areas where there is significant unmet medical need.
How the Company Makes MoneyProtalix generates revenue primarily through the development and commercialization of its proprietary therapeutic proteins. The company makes money by entering into licensing agreements and collaborations with larger pharmaceutical companies, which often include upfront payments, milestone payments, and royalties on sales of products developed using its technology. Protalix's revenue streams are significantly influenced by these partnerships, as well as the commercialization of its own products. Additionally, the company may receive government grants and incentives for research and development activities within the biotechnology sector.
Protalix Financial Statement Overview
Summary
Protalix has shown substantial improvements in profitability and cash flow. Despite the inconsistent revenue growth and high leverage, the overall financial health is positively trending.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.65
Positive
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.55
Neutral
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.70
Positive
| Breakdown | |||||
| TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|
| Income Statement | Total Revenue | ||||
| 59.76M | 53.40M | 65.49M | 47.64M | 38.35M | 62.90M | Gross Profit |
| 27.93M | 29.08M | 42.51M | 28.05M | 22.00M | 52.02M | EBIT |
| 8.77M | 3.92M | 10.46M | -13.01M | -20.46M | 1.85M | EBITDA |
| 10.54M | 6.52M | 11.65M | -10.78M | -18.94M | 4.45M | Net Income Common Stockholders |
| 7.94M | 2.93M | 8.31M | -14.93M | -33.98M | -14.89M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | ||||
| 19.46M | 34.83M | 44.56M | 22.18M | 38.98M | 38.55M | Total Assets |
| 73.89M | 73.42M | 84.43M | 55.79M | 73.67M | 67.93M | Total Debt |
| 5.24M | 5.53M | 26.28M | 33.47M | 33.47M | 64.40M | Net Debt |
| -14.22M | -14.23M | 2.65M | 16.36M | -5.51M | 46.13M | Total Liabilities |
| 4.36M | 30.21M | 50.87M | 66.43M | 79.70M | 94.97M | Stockholders Equity |
| 69.53M | 43.21M | 33.57M | -10.64M | -6.04M | -27.04M |
| Cash Flow | Free Cash Flow | ||||
| -1.56M | 7.39M | -2.47M | -25.63M | -11.74M | -26.76M | Operating Cash Flow |
| -572.00K | 8.67M | -1.32M | -25.00M | -10.29M | -26.11M | Investing Cash Flow |
| 4.51M | 4.22M | -16.71M | -5.04M | 18.92M | -19.95M | Financing Cash Flow |
| -11.72M | -16.79M | 24.67M | 8.24M | 12.08M | 46.47M |
Protalix Technical Analysis
Negative
1.65
Price Trends
2.41
Negative
2.38
Negative
1.81
Negative
Market Momentum
-0.27
Positive
31.46
Neutral
34.05
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For PLX, the sentiment is Negative. The current price of 1.65 is below the 20-day moving average (MA) of 2.28, below the 50-day MA of 2.41, and below the 200-day MA of 1.81, indicating a bearish trend. The MACD of -0.27 indicates Positive momentum. The RSI at 31.46 is Neutral, neither overbought nor oversold. The STOCH value of 34.05 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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
Overall Rating
UnderperformOutperform
Sector (53)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
57 Neutral | $136.92M | 40.71 | 10.42% | ― | 0.18% | -55.15% | |
55 Neutral | $256.99M | ― | -198.47% | ― | ― | -38.74% | |
53 Neutral | $207.01M | ― | -86.09% | ― | 1250.63% | 37.24% | |
53 Neutral | $5.14B | 3.06 | -43.57% | 2.81% | 16.81% | -0.12% | |
45 Neutral | $275.11M | ― | -32.12% | ― | ― | 10.98% | |
36 Underperform | $162.49M | ― | -244.16% | ― | ― | 77.12% | |
35 Underperform | $268.22M | ― | -500.57% | ― | ― | 81.94% |
* Healthcare Sector Average
Performance Comparison
PLX
Protalix
1.65
0.47
39.83%
LXRX
Lexicon Pharmaceuticals
0.66
-0.95
-59.01%
DBVT
DBV Technologies SA - American
8.77
2.63
42.83%
HURA
TuHURA Biosciences
3.01
-2.49
-45.27%
GOSS
Gossamer Bio
1.16
0.52
81.25%
TERN
Terns Pharmaceuticals
2.94
-2.92
-49.83%
Protalix Earnings Call Summary
Earnings Call Date:May 09, 2025
(Q1-2025)
| % Change Since: -42.91%|
Next Earnings Date:Aug 18, 2025
Earnings Call Sentiment Neutral
The earnings call presented a mix of positive and negative aspects. The company showcased substantial revenue growth, promising developments in its pipeline, and a strong cash position. However, these were counterbalanced by increased costs associated with goods sold and R&D, alongside a continued net loss. The sentiment of the call is balanced.Q1-2025 Updates
Positive Updates
Significant Revenue Growth
Revenues from selling goods increased by 70% to $10 million in Q1 2025 compared to $3.7 million in Q1 2024. This was primarily driven by a $5.9 million increase in sales to Pfizer and a $400,000 increase in sales to Fircruz in Brazil.
Positive Developments for PRX-115
Encouraging results from the first in human study of PRX-115, showing increased exposure and a rapid reduction in plasma uric acid levels in a dose-dependent manner. Plans to initiate a phase two clinical trial for PRX-115 in gout patients later this year.
Reduction in Operating Expenses
Selling, general, and administrative expenses decreased by 16% to $2 million in Q1 2025 from $3.1 million in Q1 2024, primarily due to a decrease in salary-related expenses and selling expenses.
Cash Position
Cash, cash equivalents, and short-term bank deposits were approximately $34.7 billion as of March 31, 2025.
Negative Updates
Increased Cost of Goods Sold
Cost of goods sold increased by 215% to $8.2 million in Q1 2025 from $2.6 million in Q1 2024, primarily due to increased sales to Pfizer and Fircruz in Brazil.
Higher Research and Development Expenses
Total research and development expenses increased by 21% to approximately $3.5 million in Q1 2025 from $2.9 million in Q1 2024, driven primarily by the advancement in the clinical pipeline.
Net Loss
Net loss for Q1 2025 was approximately $3.6 million or $0.05 per share, compared to $4.6 million or $0.06 per share in Q1 2024.
Company Guidance
During the Protalix BioTherapeutics First Quarter 2025 Financial and Business Results Conference Call, the company reported a 70% increase in revenues from selling goods, reaching $10 million for the quarter ending March 31, 2025, compared to $3.7 million in the same period the previous year. This increase was driven primarily by a $5.9 million uptick in sales to Pfizer and an additional $400,000 in sales to Fircruz in Brazil. Despite the revenue growth, the cost of goods sold also rose by 215% to $8.2 million. Research and development expenses increased by 21% to $3.5 million, reflecting ongoing advancements in their clinical pipeline. The company also highlighted their cash position, with cash, cash equivalents, and short-term bank deposits totaling approximately $34.7 billion as of March 31, 2025. Looking forward, Protalix BioTherapeutics aims to initiate a phase two clinical trial for PRX-115 later in the year and is working closely with Chiesi Global Rare Diseases on the potential approval of a reduced dosing frequency for their Fabry disease treatment by the European Medicines Agency.Protalix Corporate Events
Executive/Board Changes
Protalix CFO Eyal Rubin Announces Resignation
Neutral
Apr 23, 2025
On April 21, 2025, Eyal Rubin, the Senior Vice President and Chief Financial Officer of Protalix BioTherapeutics, Inc., announced his resignation to pursue other opportunities, effective in six months. During his tenure, Rubin significantly contributed to the company’s financial and product development advancements. He will continue in his role during the transition period, receiving full salary and benefits, and will be entitled to severance and accelerated equity vesting upon his departure.
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
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.