Purple Biotech Ltd (NASDAQ:PPBT – Free Report) – Investment analysts at HC Wainwright dropped their Q3 2024 earnings per share estimates for Purple Biotech in a research note issued to investors on Thursday, September 19th. HC Wainwright analyst E. Bodnar now anticipates that the company will earn ($1.20) per share for the quarter, down from their previous forecast of ($1.00). HC Wainwright has a “Buy” rating and a $33.00 price objective on the stock. The consensus estimate for Purple Biotech’s current full-year earnings is ($0.32) per share. HC Wainwright also issued estimates for Purple Biotech’s Q4 2024 earnings at ($0.62) EPS, FY2025 earnings at ($2.19) EPS, FY2026 earnings at ($2.05) EPS, FY2027 earnings at ($1.88) EPS and FY2028 earnings at ($1.81) EPS.
Purple Biotech (NASDAQ:PPBT – Get Free Report) last announced its quarterly earnings data on Friday, August 16th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.05.
Purple Biotech Stock Down 1.3 %
Hedge Funds Weigh In On Purple Biotech
A hedge fund recently bought a new stake in Purple Biotech stock. Armistice Capital LLC acquired a new stake in Purple Biotech Ltd (NASDAQ:PPBT – Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,882,173 shares of the company’s stock, valued at approximately $1,468,000. Armistice Capital LLC owned 8.54% of Purple Biotech at the end of the most recent quarter. 9.64% of the stock is owned by institutional investors.
Purple Biotech Company Profile
Purple Biotech Ltd., a clinical-stage company, focuses on developing therapies to overcome tumor immune evasion and drug resistance for cancer patients in the United States. Its oncology pipeline includes CM24, a humanized monoclonal antibody that blocks the interactions of carcinoembryonic antigen related cell adhesion molecule 1 as a combination therapy with anti-PD-1 checkpoint inhibitors, which is in Phase 2 clinical trial for the treatment of pancreatic ductal adenocarcinoma; NT219, a small molecule that targets and inhibits insulin receptor substrate 1 and 2, and signal transducer and activator of transcription, which is in Phase 1/2 clinical trials for the treatment recurrent and/or metastatic squamous cell carcinoma of the head and neck cancer or colorectal adenocarcinoma; and IM1240, a multi-valent antibody designed to activate anti-tumoral immune response against 5T4-positive tumors, which is in preclinical stage.
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