PROTALIX BIOTHERAPEUTICS, INC. (PLX)

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3 Biotech Stocks Offering Great Potential for Gains in October

https://stocknews.com/news/bntx-pbyi-plx-3-biotech-stocks-offering-great-potential-for-gains-in-october/

Stock #1: Protalix BioTherapeutics, Inc. (PLX - Get Rating)

PLX is a biopharmaceutical company focused on developing and commercializing recombinant therapeutic proteins expressed through its proprietary plant cell-based expression system, ProCellEx.

On May 18, PLX revealed its eligibility to receive a $20 million milestone payment from Chiesi Global Rare Diseases, a division of the Chiesi Group, following the U.S. FDA approval of ELFABRIO for treating adult patients suffering from Fabry disease. This development represents a pivotal progression for PLX, bolstering its fiscal stability.

PLX’s trailing-12-month asset turnover ratio of 0.91x is 139.6% higher than the industry average of 0.38x. Its trailing-12-month EBIT margin of 18.29% is significantly higher than the industry average of 0.53%.

PLX’s revenue grew at CAGRs 1.5% and 23.6% over the past three and five years, respectively. Its total assets grew at CAGRs of 7.2% and 11.3% over the same periods.

For the fiscal second quarter that ended June 30, 2023, PLX’s total revenue stood at $35.08 million, up 300.7% year-over-year. Its operating income came in at $20.42 million, compared to an operating loss of $5.52 million in the year-ago quarter.

The company’s net income for the period and earnings per share of common stock came in at $19.34 million and $0.21, compared to a net loss for the period and loss per share of common stock of $5.33 million and $0.11 in the year-ago quarter, respectively.

Street expects PLX’s revenue in the fiscal year ending December 2023 to increase 27.3% year-over-year to $60.66 million. Its EPS is expected to come at $0.10. The company surpassed consensus revenue and EPS estimates in each of the trailing four quarters.

The stock has gained 3.9% intraday to close the last trading session at $1.62. Over the past year, it gained 54.3%.

PLX’s robust prospects are reflected in its POWR Ratings. The stock has an overall B rating, equating to Buy in our proprietary rating system.

PLX has an A grade for Value and a B for Growth and Quality. It is ranked #17 within the same industry.

Click here for the additional POWR Ratings for PLX (Momentum, Stability, and Sentiment).