Purple Biotech (NASDAQ:PPBT – Get Free Report) had its price target dropped by equities research analysts at HC Wainwright from $30.00 to $17.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock.
Several other research firms have also recently issued reports on PPBT. Zacks Research raised shares of Purple Biotech from a “strong sell” rating to a “hold” rating in a research report on Monday, April 13th. Weiss Ratings upgraded shares of Purple Biotech from a “sell (e)” rating to a “sell (e+)” rating in a report on Monday. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $17.00.
Read Our Latest Stock Analysis on Purple Biotech
Purple Biotech Stock Performance
Purple Biotech (NASDAQ:PPBT – Get Free Report) last released its earnings results on Friday, August 7th. The company reported $1.07 EPS for the quarter, topping the consensus estimate of ($0.98) by $2.05. Equities analysts anticipate that Purple Biotech will post -5.31 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Purple Biotech
A hedge fund recently bought a new stake in Purple Biotech stock. SmartHarvest Portfolios LLC bought a new stake in Purple Biotech Ltd. Sponsored ADR (NASDAQ:PPBT – Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 47,454 shares of the company’s stock, valued at approximately $31,000. SmartHarvest Portfolios LLC owned approximately 0.37% of Purple Biotech at the end of the most recent quarter. Hedge funds and other institutional investors own 9.64% of the company’s stock.
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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