Is Protalix Biotherapeutics, Inc. overvalued or undervalued?

As of 17 October 2025, the valuation grade for Protalix Biotherapeutics, Inc. has moved from very attractive to attractive, indicating a shift in perceived value. The company appears to be overvalued given its P/E ratio of 32, which is significantly higher than its peer Puma Biotechnology, Inc. at 4.74, and its EV to EBITDA ratio of 15.52, which also exceeds the industry benchmark. Additionally, the Price to Book Value stands at 2.78, suggesting that the stock may be priced higher than its actual book value.
In comparison to its peers, Protalix's valuation ratios indicate a less favorable position, with Puma Biotechnology having a much lower P/E and EV to EBITDA, reflecting a more attractive investment opportunity. Furthermore, while Protalix has shown a strong 1-year return of 70.64%, it has underperformed against the S&P 500's 14.08% return over the same period, which reinforces the notion that the stock may be overvalued in the current market context.