Purple Biotech Has Almost 400% Upside According To Chardan Analyst

 

• Chardan Research initiated coverage of Purple Biotech 
  PPBT-5.29%+ Free Alerts
   with a Buy rating and a price target of $11/share. 
• The analyst is optimistic about the company's two clinical programs: 
  • Anti-CEACAM1 monoclonal antibody CM24 for pancreatic ductal adenocarcinoma (PDAC).
  • NT219, the company's insulin receptor substrate 1/2 and STAT3 dual inhibitor small molecule, being developed initially to treat head and neck squamous cell carcinoma (HNSCC). 
• Both programs have shown supportive safety in the clinic and early signs of clinical activity to support further investigation. 
• The company expects multiple data readouts from its programs over the next 12 months that could de-risk its development candidates. 
• Chardan forecasts CM24 and NT219 reaching the U.S. market in 2027 and achieving probability-adjusted global sales in 2030E of $147 million and $61.7 million, respectively.

https://www.benzinga.com/general/biotech/22/09/28800476/chardan-initiates-this-small-cap-cancer-stock-with-almost-400-upside