H.C. Wainwright Raises Purple Biotech (PPBT) Price Target, Reiterates Buy Rating

On May 30, Emily Bodnar, an analyst at H.C. Wainwright, raised her price target for Purple Biotech Ltd. (NASDAQ:PPBT) from $33 to $34 while keeping her Buy rating on the PPBT stock. The change comes after Purple Biotech presented new biomarker results at the American Association for Cancer Research (AACR) meeting in April and announced developments in its clinical pipeline.

H.C. Wainwright Raises Purple Biotech (PPBT) Price Target, Reiterates Buy Rating

According to the company’s revised schedule, the Phase 2 study of NT219 and the Phase 2b study of CM24 are anticipated to begin in the first and second halves of 2025, respectively. The company also shared further biomarker data from Purple Biotech’s randomized Phase 2 study of CM24 in combination with nivolumab and Nal-IRI-5U/LV.

In addition, to further improve its commercial prospects, Purple Biotech Ltd. (NASDAQ:PPBT) recently obtained broad patent protection for the use of NT219 in tandem with anti-EGFR antibodies.

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Read More: 10 Best Stocks to Buy According to the Bill & Melinda Gates Foundation Trust and 15 Best Stocks to Buy According to Jim Simons’ Renaissance Technologies.

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