Protalix BioTherapeutics (AMEX:PLX) Looks Good on Probable Taliglucerase Approval

With Protalix BioTherapeutics' (AMEX:PLX) partner Pfizer (NYSE:PFE) expected to get approval for taliglucerase, it should be a strong catalyst for both companies in 2011.

Canaccord said, "We think PLX and partner Pfizer’s taliglucerase (tali) for Gaucher’s will be approved by FDA on its Feb. 25 PDUFA date. Q1/11 pivotal extension and full switch study data may be key catalysts. We expect a strong US launch in late Q1/11 driven by EAP patients and Phase 3b data. We think tali will capture -15+% of the $1.2B+ Gaucher’s market, taking Cerezyme market share through strong marketing."

Canaccord Genuity reiterates a "Buy" on Protalix BioTherapeutics, which closed Thursday at $10.46, gaining $0.24, or 2.35 percent. Canaccord has a price target of $13 on them, raising it from $10.