Q2 2023 EPS Estimates for Purple Biotech Ltd. (NASDAQ:PPBT) Lifted by HC Wainwright

Posted by on May 20th, 2023

Purple Biotech Ltd. (NASDAQ:PPBT – Get Rating) – Stock analysts at HC Wainwright raised their Q2 2023 earnings per share estimates for Purple Biotech in a report released on Wednesday, May 17th. HC Wainwright analyst E. Bodnar now forecasts that the company will earn ($0.25) per share for the quarter, up from their previous estimate of ($0.37). HC Wainwright currently has a “Buy” rating and a $7.00 target price on the stock. The consensus estimate for Purple Biotech’s current full-year earnings is ($1.00) per share. HC Wainwright also issued estimates for Purple Biotech’s Q3 2023 earnings at ($0.25) EPS, Q4 2023 earnings at ($0.26) EPS, FY2023 earnings at ($1.02) EPS, FY2024 earnings at ($0.66) EPS, FY2025 earnings at ($0.96) EPS, FY2026 earnings at ($0.71) EPS and FY2027 earnings at ($0.58) EPS.

Separately, Chardan Capital reaffirmed a “buy” rating and set a $11.00 target price on shares of Purple Biotech in a report on Thursday, February 9th.

Purple Biotech Trading Up 3.2 %

NASDAQ:PPBT opened at $1.92 on Friday. The firm has a market capitalization of $35.48 million, a PE ratio of -1.83 and a beta of 1.89. The stock has a 50 day moving average of $1.93 and a 200-day moving average of $1.87. Purple Biotech has a 52 week low of $1.32 and a 52 week high of $3.20.

Hedge Funds Weigh In On Purple Biotech

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Morgan Stanley boosted its position in shares of Purple Biotech by 34.4% during the fourth quarter. Morgan Stanley now owns 21,870 shares of the company’s stock worth $30,000 after buying an additional 5,600 shares during the period. Fisher Asset Management LLC acquired a new position in shares of Purple Biotech during the fourth quarter worth approximately $44,000. Virtu Financial LLC acquired a new position in shares of Purple Biotech during the second quarter worth approximately $33,000. Finally, Renaissance Technologies LLC acquired a new position in shares of Purple Biotech during the first quarter worth approximately $198,000. 0.63% of the stock is currently owned by institutional investors and hedge funds.

About Purple Biotech

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Purple Biotech Ltd. is a development stage pharmaceutical company, which engages in drug development. It operates through two segments: Oncology, and Pain & Hypertension. The Oncology segment includes NT219, a therapeutic candidate which is a small molecule that targets two signal transduction pathways which are involved in the development of cancer drug resistance mechanisms, and which is currently in the late pre-clinical stage of development.

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