Purple Biotech (NASDAQ:PPBT) Issues Quarterly Earnings Results

Purple Biotech (NASDAQ:PPBT) released its quarterly earnings data on Monday. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.04), Zacks reports.

Purple Biotech Trading Down 2.2 %

Shares of PPBT stock opened at $2.65 on Wednesday. The stock’s 50-day moving average is $3.37. The stock has a market capitalization of $3.53 million, a price-to-earnings ratio of -0.30 and a beta of 0.95. Purple Biotech has a 1-year low of $2.00 and a 1-year high of $20.60.

Wall Street Analyst Weigh In

Separately, HC Wainwright reaffirmed a “buy” rating and set a $33.00 target price on shares of Purple Biotech in a research report on Friday, November 15th.

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.