Purple Biotech Ltd. Sponsored ADR (NASDAQ:PPBT – Get Free Report) fell 6.8% on Friday . The stock traded as low as $1.3431 and last traded at $1.44. 160,263 shares were traded during trading, a decline of 96% from the average daily volume of 3,966,984 shares. The stock had previously closed at $1.5450.
Analysts Set New Price Targets
Separately, Weiss Ratings upgraded shares of Purple Biotech from a “sell (e)” rating to a “sell (e+)” rating in a research note on Monday, August 31st. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $30.00.
Read Our Latest Analysis on PPBT
Purple Biotech Stock Down 6.8%
Purple Biotech (NASDAQ:PPBT – Get Free Report) last issued its quarterly earnings results on Friday, August 7th. The company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.98) by $2.05. On average, sell-side analysts anticipate that Purple Biotech Ltd. Sponsored ADR will post -5.73 earnings per share for the current year.
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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