Purple Biotech (NASDAQ:PPBT) Announces Quarterly Earnings Results, Misses Expectations By $0.04 EPS

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

Purple Biotech Stock Performance

Shares of NASDAQ PPBT opened at $2.61 on Monday. The stock has a market cap of $3.48 million, a PE ratio of -0.30 and a beta of 0.95. The company’s 50-day simple moving average is $3.44. Purple Biotech has a 12-month low of $2.00 and a 12-month high of $20.60.

Wall Street Analysts Forecast Growth

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

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.