Purple Biotech price target lowered to $30 from $34 at H.C. Wainwright

H.C. Wainwright analyst Emily Bodnar lowered the firm’s price target on Purple Biotech (PPBT) to $30 from $34 and keeps a Buy rating on the shares. The company reported Q4 earnings and provided a corporate update, highlighting recent progress for the company’s preclinical CAPTN-3 tri-specific T cell engager programs, the analyst tells investors in a research note. The firm said it expects additional updates regarding progress of the investigational new drug submission and plans for Phase 1 throughout 2026. The firm added that its new price target is based on a discounted cash flow analysis.