Protalix (PLX) AI Stock Analysis

• Market Cap: $209.10M
• Dividend Yield: N/A
• Average Volume (3M): 863.04K
• Price to Earnings (P/E): 39.3
• Beta (1Y): 0.62
• 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: 1,122,139
• 30 Day Avg. Volume: 863,041
• 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: 1.02
• Enterprise Value/Revenue: 3.46
• Enterprise Value/Gross Profit: 6.02
• Enterprise Value/Ebitda: 24.13
• 1Y Price Target: $12.00
• Price Target Upside: 339.56% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): 0.2
• Revenue Forecast (FY): $79.17M

• Rating: 59 Neutral
• Price Target: $2.50 ▼(-8.42% Downside)

The score is driven primarily by improved profitability and a healthier balance sheet, offset by deteriorating TTM cash flow and shrinking recent revenue. Technicals are supportive but overbought, while valuation is a headwind given the high P/E and no dividend. Earnings-call updates and recent regulatory news are net positive but do not fully offset the cash-flow and growth concerns.

Positive Factors

Balance sheet health

Protalix's materially healthier balance sheet—with positive equity and low debt—reduces refinancing and solvency risk, enabling sustained R&D and commercialization investment. This capitalization supports multi-quarter runway and partner negotiations, though prior swings warrant continued monitoring.

Improved profitability and margins

The firm's return to sustained positive earnings and healthy gross margins signals that its plant-based manufacturing and commercial operations can generate operating leverage. Durable margins improve internal funding capacity for pipeline programs and reduce dependence on external capital over multiple quarters.

Regulatory progress for Elfabrio dosing

A CHMP positive opinion on an every‑four‑weeks Elfabrio regimen is a structural development that can lower treatment burden, strengthen market competitiveness in Fabry disease, and, if EC-approved, trigger a $25M milestone. That boosts durable revenue potential and partner economics.

Negative Factors

Weak cash generation

The reversal to negative trailing‑twelve‑month operating and free cash flow creates a persistent funding risk: sustained cash burn could force dilutive financing or restrict R&D/commercial spend, weakening strategic optionality and increasing vulnerability to adverse market or regulatory events over coming quarters.

Declining revenue trend

Consecutive revenue declines signal deteriorating commercial momentum, which can compress future margins and reduce internal cash available for pipeline advancement. If top‑line contraction persists, the company may face escalating pressure to secure external funds or restructure commercial agreements.

Concentration on partner-driven sales

Revenue concentration via major commercial partners makes Protalix highly exposed to partner execution, pricing and regulatory outcomes. Dependence on milestone payments and partner commercialization limits control over market access and cash timing, a structural risk to multi‑quarter revenue predictability.

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

Profitability has improved versus earlier years with positive earnings and healthier leverage/positive equity, but recent revenue contraction (2024 and TTM declines) and a sharp reversal to negative TTM operating/free cash flow weaken overall quality and sustainability of results.

Income Statement

PLX has clearly improved profitability versus earlier years, with positive earnings in 2023 and 2024 and stronger margins in TTM (Trailing-Twelve-Months) (gross margin ~57.5%, net margin ~8.7%). However, growth has turned negative: revenue declined in 2024 (about -18.5%) and again in TTM (about -17.4%), and profitability is down meaningfully from the stronger 2023 peak (net margin ~12.7%). Overall, the income statement shows a business that is profitable now, but with weakening top-line momentum and some margin volatility.

Balance Sheet

The balance sheet looks materially healthier than in 2020–2022, when equity was negative and leverage was very high/unstable. In 2023–TTM (Trailing-Twelve-Months), equity is positive and debt is low (TTM debt-to-equity ~0.15), indicating reduced financial risk and improved capitalization. Returns on equity are positive and improving (TTM ~11.3% vs 2024 ~6.8%), though not at the unusually high 2023 level (~24.8%). Key watch-out: the company has a history of sharp swings in equity and leverage, so balance sheet stability should continue to be monitored.

Cash Flow

Cash generation is the weakest area. While 2024 produced positive operating cash flow (~$8.7M) and free cash flow (~$7.4M), TTM (Trailing-Twelve-Months) swung back to negative operating cash flow (~-$10.0M) and negative free cash flow (~-$11.7M). This reversal indicates higher cash burn or working-capital pressure despite positive net income in TTM, raising questions about earnings quality and near-term funding needs if the trend persists.

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: 2.73
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• 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 2.73 is above the 20-day moving average (MA) of 2.11, above the 50-day MA of 1.90, and above the 200-day MA of 1.89, indicating a bullish trend. The MACD of 0.15 indicates Negative momentum. The RSI at 82.52 is Negative, neither overbought nor oversold. The STOCH value of 91.34 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	$209.10M	39.28	12.64%	―	35.42%	―
TARA	57 Neutral	$363.48M	-4.68	-49.42%	―	―	48.84%
SLS	56 Neutral	$565.50M	-14.50	-84.33%	―	―	59.04%
FBRX	56 Neutral	$432.05M	-7.74	-110.72%	―	―	77.08%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
IPHA	49 Neutral	$171.79M	-2.98	-271.32%	―	-75.77%	-31.24%
CHRS	48 Neutral	$262.29M	―	―	―	-72.54%	-19972.15%

Protalix Corporate Events

Protalix Wins EMA Panel Backing for New Elfabrio Dosing

On January 30, 2026, 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 positive opinion recommending approval of a 2 mg/kg every‑four‑weeks dosing regimen of Elfabrio for adult Fabry disease patients who are stable on enzyme replacement therapy. The opinion, based on long‑term clinical data including the BRIGHT study and its extension, will now be reviewed by the European Commission, and if approved is expected to significantly reduce treatment burden by extending infusion intervals, potentially improving quality of life for eligible patients while also positioning Protalix and Chiesi more strongly in the Fabry disease market and triggering a $25 million regulatory milestone payment to Protalix.

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.

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.