Investing.com - Financial Markets Worldwide

Protalix stock soars to 52-week high, hits $2.76

Published 23/04/2025, 14:38
Protalix stock soars to 52-week high, hits $2.76
PLX
1.27%

Protalix Biotherapeutics Inc. (NYSE:PLX) stock has reached a new 52-week high, touching $2.76 amidst a remarkable year for the company. Investors have witnessed a significant surge in the stock’s value, with a 1-year return exceeding 119%. According to InvestingPro, the company maintains strong financial health with a "GREAT" overall score, supported by a healthy current ratio of 2.34 and impressive gross margins of 54.46%. This milestone reflects growing investor confidence and heightened interest in Protalix’s market performance and future potential. The biopharmaceutical company’s recent advancements and strategic initiatives may have played a key role in this upward trajectory, with analyst price targets ranging from $14 to $15. InvestingPro analysis reveals 8 additional key insights about PLX’s valuation and growth prospects, available exclusively to subscribers through comprehensive Pro Research Reports.

In other recent news, Protalix Biotherapeutics Inc reported its fourth-quarter 2024 earnings, revealing a 31% increase in total revenues, reaching $53 million. Despite the revenue growth, the company saw a decline in net income to $2.9 million from $8.3 million in 2023, attributed to increased investments in research and development. Protalix’s focus remains on strategic partnerships and advancing its product pipeline, with plans to initiate Phase II trials for PRX-115 in the second half of 2025. The company is also exploring potential partnerships for PRX-115, contingent on successful trial outcomes. Analysts noted the company’s strategic collaboration with Chiesi, which is expected to generate significant revenue by 2030. Protalix did not provide specific revenue guidance for 2025, but it continues to emphasize its commitment to expanding its product development pipeline. The company’s cash and equivalents stood at $34.8 million as of the end of 2024, supporting its ongoing and future initiatives.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2025 - Fusion Media Limited. All Rights Reserved.