Q3 2024 Earnings Estimate for Purple Biotech Ltd Issued By HC Wainwright (NASDAQ:PPBT)

Purple Biotech Ltd (NASDAQ:PPBT) – Equities researchers at HC Wainwright reduced their Q3 2024 earnings estimates for shares of Purple Biotech in a research report issued on Thursday, September 19th. HC Wainwright analyst E. Bodnar now expects that the company will post earnings per share of ($1.20) for the quarter, down from their previous estimate of ($1.00). HC Wainwright currently has a “Buy” rating and a $10.00 target price 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) last announced its earnings results on Friday, August 16th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.05.

Purple Biotech Stock Down 7.6 %

Shares of Purple Biotech stock opened at $6.00 on Monday. The firm has a market cap of $151.43 million, a price-to-earnings ratio of -7.41 and a beta of 1.07. Purple Biotech has a 12 month low of $5.30 and a 12 month high of $36.00.

Institutional Trading of Purple Biotech

A hedge fund recently bought a new stake in Purple Biotech stock. Armistice Capital LLC bought a new position in Purple Biotech Ltd (NASDAQ:PPBT) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,882,173 shares of the company’s stock, valued at approximately $1,468,000. Armistice Capital LLC owned about 8.54% of Purple Biotech at the end of the most recent quarter. 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.