Purple Biotech Ltd (NASDAQ:PPBT) Forecasted to Earn Q3 2024 Earnings of ($1.20) Per Share

Purple Biotech Ltd (NASDAQ:PPBT) – Equities research analysts at HC Wainwright dropped their Q3 2024 earnings estimates for Purple Biotech in a report issued on Thursday, September 19th. HC Wainwright analyst E. Bodnar now anticipates that the company will earn ($1.20) per share for the quarter, down from their prior estimate of ($1.00). HC Wainwright has a “Buy” rating and a $10.00 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 (NASDAQ:PPBT) last posted its quarterly earnings data on Friday, August 16th. The company reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.05.

Purple Biotech Price Performance

NASDAQ:PPBT opened at $6.00 on Monday. The stock 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 52-week low of $5.30 and a 52-week high of $36.00.

Institutional Investors Weigh In On Purple Biotech

An institutional investor recently bought a new position in Purple Biotech stock. Armistice Capital LLC purchased a new position in Purple Biotech Ltd (NASDAQ:PPBT) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,882,173 shares of the company’s stock, valued at approximately $1,468,000. Armistice Capital LLC owned 8.54% of Purple Biotech at the end of the most recent reporting period. Institutional investors and hedge funds 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.