HC Wainwright Reiterates Buy Rating for PDS Biotechnology (NASDAQ:PDSB)

HC Wainwright reiterated their buy rating on shares of PDS Biotechnology (NASDAQ:PDSB) in a research note published on Wednesday, Benzinga reports. HC Wainwright currently has a $21.00 price target on the stock. HC Wainwright also issued estimates for PDS Biotechnology’s Q1 2024 earnings at ($0.33) EPS, Q2 2024 earnings at ($0.31) EPS, Q3 2024 earnings at ($0.36) EPS, Q4 2024 earnings at ($0.39) EPS, FY2024 earnings at ($1.40) EPS, FY2025 earnings at ($1.58) EPS, FY2026 earnings at ($1.22) EPS, FY2027 earnings at ($1.15) EPS and FY2028 earnings at $0.33 EPS.

Several other equities analysts have also issued reports on PDSB. StockNews.com lowered shares of PDS Biotechnology from a hold rating to a sell rating in a report on Saturday, March 16th. Cantor Fitzgerald reissued an overweight rating on shares of PDS Biotechnology in a report on Friday, January 12th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $17.33.

PDS Biotechnology Price Performance

NASDAQ PDSB opened at $3.96 on Wednesday. The firm’s fifty day simple moving average is $5.25 and its two-hundred day simple moving average is $5.09. The company has a current ratio of 6.21, a quick ratio of 6.21 and a debt-to-equity ratio of 0.96. PDS Biotechnology has a 12-month low of $3.61 and a 12-month high of $10.27. The firm has a market capitalization of $123.20 million, a P/E ratio of -2.87 and a beta of 1.72.

Institutional Investors Weigh In On PDS Biotechnology

A number of large investors have recently made changes to their positions in the stock. Invesco Ltd. grew its holdings in shares of PDS Biotechnology by 12.2% during the third quarter. Invesco Ltd. now owns 19,916 shares of the company’s stock valued at $101,000 after buying an additional 2,166 shares during the last quarter. Commonwealth Equity Services LLC lifted its position in PDS Biotechnology by 4.2% during the third quarter. Commonwealth Equity Services LLC now owns 60,900 shares of the company’s stock valued at $180,000 after purchasing an additional 2,440 shares during the period. Northern Trust Corp lifted its position in PDS Biotechnology by 1.3% during the fourth quarter. Northern Trust Corp now owns 249,690 shares of the company’s stock valued at $1,241,000 after purchasing an additional 3,311 shares during the period. Rockefeller Capital Management L.P. acquired a new position in PDS Biotechnology during the fourth quarter valued at $45,000. Finally, Cary Street Partners Investment Advisory LLC lifted its position in PDS Biotechnology by 187.7% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 6,131 shares of the company’s stock valued at $31,000 after purchasing an additional 4,000 shares during the period. 26.84% of the stock is owned by hedge funds and other institutional investors.

PDS Biotechnology Company Profile

PDS Biotechnology Corporation, a clinical-stage biopharmaceutical company, focuses on developing multifunctional cancer immunotherapies. Its lead product candidate is PDS0101 (HPV16), which is in Phase II clinical trial provides a first line treatment for the recurrent/metastatic head and neck cancer, and human papillomavirus associated malignancies.