Purple Biotech (NASDAQ:PPBT) Earns Buy Rating from HC Wainwright

HC Wainwright reissued their buy rating on shares of Purple Biotech (NASDAQ:PPBT) in a report issued on Friday morning,Benzinga reports. They currently have a $33.00 target price on the stock.

Purple Biotech Price Performance

Shares of PPBT stock traded down $0.02 on Friday, reaching $2.51. The company’s stock had a trading volume of 33,330 shares, compared to its average volume of 18,539. The firm has a market cap of $3.33 million, a P/E ratio of -0.19 and a beta of 1.11. The company has a 50 day simple moving average of $7.56. Purple Biotech has a 12-month low of $2.41 and a 12-month high of $23.20.

Purple Biotech (NASDAQ:PPBT) last announced its earnings results on Friday, August 16th. The company reported ($1.60) earnings per share for the quarter, beating analysts’ consensus estimates of ($2.60) by $1.00. On average, analysts predict that Purple Biotech will post -6.42 earnings per share for the current fiscal year.

About Purple Biotech

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.