Protalix Biotherapeutics Down 7.24% To $1.41 After Earnings Miss

Protalix Biotherapeutics (PLX) said before open Thursday that it lost $0.07 per share in quarter four 2023.

On the revenue line, the company reported $10.5 million, beating estimates by $4.7 million.

In the same quarter a year ago, the company lost $0.07 per share on revenue of $8.6 million.

The stock is down 7.24% to $1.41 after the report.



Wall Street Analysts had an average rating of Strong Buy on the stock prior to the report.

Trading in the five days leading up to the report earned Protalix Biotherapeutics a Bullish Sentiment Rank from InvestorsObserver.

Protalix Biotherapeutics has performed poorly during the past few months, garnering a low Long-Term Technical Rank by InvestorsObserver of 18, putting Protalix Biotherapeutics in the bottom 25% of stocks. The firm set a 52-week low on November 8, 2023 at $1.21 and set a 52-week high on May 5, 2023 at $3.55.

Protalix BioTherapeutics Inc is a biopharmaceutical company focused on the development and commercialization of recombinant therapeutic proteins based on its proprietary ProCellEx protein expression system or ProCellEx. It has developed taliglucerase alfa for the treatment of Gaucher disease. The company's products also treat diseases like Fabry disease and cystic fibrosis.The company's primary sources of revenues include its sales of taliglucerase alfa in Brazil and of drug substance to Pfizer under its Amended Pfizer Agreement.