Purple Biotech Ltd. (NASDAQ:PPBT – Get Rating) – Analysts at Chardan Capital lowered their FY2023 earnings estimates for Purple Biotech in a report released on Wednesday, May 17th. Chardan Capital analyst M. Barcus now expects that the company will earn ($1.20) per share for the year, down from their prior forecast of ($0.47). Chardan Capital currently has a “Buy” rating and a $11.00 target price on the stock. The consensus estimate for Purple Biotech’s current full-year earnings is ($1.11) per share. Chardan Capital also issued estimates for Purple Biotech’s FY2024 earnings at ($0.46) EPS.
Separately, HC Wainwright reiterated a “buy” rating and set a $7.00 price target on shares of Purple Biotech in a report on Thursday, February 9th.
Purple Biotech Stock Performance
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Morgan Stanley raised its holdings in shares of Purple Biotech by 34.4% in the fourth quarter. Morgan Stanley now owns 21,870 shares of the company’s stock valued at $30,000 after buying an additional 5,600 shares during the last quarter. Virtu Financial LLC bought a new position in shares of Purple Biotech in the second quarter valued at about $33,000. Fisher Asset Management LLC bought a new position in shares of Purple Biotech in the fourth quarter valued at about $44,000. Finally, Renaissance Technologies LLC bought a new position in shares of Purple Biotech in the first quarter valued at about $198,000. 0.63% of the stock is owned by institutional investors.
Purple Biotech Company Profile
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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