Q3 2024 EPS Estimates for Purple Biotech Ltd Reduced by Analyst (NASDAQ:PPBT)

Purple Biotech Ltd (NASDAQ:PPBT) – Analysts at HC Wainwright cut their Q3 2024 EPS estimates for Purple Biotech in a research report issued on Thursday, September 19th. HC Wainwright analyst E. Bodnar now forecasts that the company will earn ($1.20) per share for the quarter, down from their previous forecast of ($1.00). HC Wainwright has a “Buy” rating and a $33.00 price objective 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 Price Performance

Purple Biotech stock opened at $6.89 on Monday. Purple Biotech has a one year low of $6.05 and a one year high of $36.00. The firm has a market capitalization of $173.89 million, a PE ratio of -8.51 and a beta of 1.07.

Purple Biotech (NASDAQ:PPBT) last released its quarterly earnings data on Friday, August 16th. The company reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.05.

Institutional Investors Weigh In On Purple Biotech

A hedge fund recently bought a new stake in Purple Biotech stock. Armistice Capital LLC purchased a new position in Purple Biotech Ltd (NASDAQ:PPBT) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 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 reporting period. 9.64% of the stock is currently owned by institutional investors and hedge funds.

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.