Is Protalix Biotherapeutics, Inc. overvalued or undervalued?

As of 9 May 2025, the valuation grade for Protalix Biotherapeutics, Inc. has moved from expensive to attractive, indicating a shift in perception regarding its value. The company is currently considered undervalued. Key ratios include a P/E ratio of 32, an EV to EBITDA of 15.52, and a ROCE of 38.92%, which suggests strong operational efficiency despite a relatively high price-to-earnings ratio.
In comparison to its peers, Protalix has a more favorable valuation with a P/E of 27.91 compared to Puma Biotechnology, Inc. at 4.47 and Mind Medicine (MindMed), Inc. which does not qualify for comparison. The company's performance has been mixed against the S&P 500, with a year-to-date return of -28.19%, contrasting with the index's 2.44% gain, yet it has outperformed the index over a one-year period with a return of 15.38%. This valuation suggests that Protalix may present a compelling investment opportunity at its current price of 1.35.