HC Wainwright Reiterates Buy Rating for Purple Biotech (NASDAQ:PPBT)

Purple Biotech (NASDAQ:PPBT)‘s stock had its “buy” rating reaffirmed by equities research analysts at HC Wainwright in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $33.00 price target on the stock.

Purple Biotech Price Performance

Shares of NASDAQ:PPBT remained flat at $2.52 during midday trading on Friday. 24,765 shares of the stock were exchanged, compared to its average volume of 18,500. The company has a fifty day moving average of $7.68. Purple Biotech has a 1 year low of $2.41 and a 1 year high of $23.20. The company has a market cap of $3.35 million, a price-to-earnings ratio of -0.19 and a beta of 1.11.

Purple Biotech (NASDAQ:PPBT) last released its quarterly earnings data 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. Equities analysts forecast that Purple Biotech will post -6.42 EPS 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.