Zacks Investment Research upgraded shares of Pieris Pharmaceuticals (NASDAQ:PIRS) from a hold rating to a buy rating in a research note released on Saturday, Zacks.com reports. The brokerage currently has $4.25 price objective on the biotechnology company’s stock.
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According to Zacks, “Pieris Pharmaceuticals, Inc. is a biopharmaceutical company. The Company’s drug technology consists of Anticalin(R) to treat cancer, severe asthma, anemia and other medical conditions. Pieris Pharmaceuticals, Inc. is based in Freising-Weihenstephan, Germany. “
Other equities research analysts have also recently issued research reports about the stock. Robert W. Baird cut shares of Pieris Pharmaceuticals from an outperform rating to a neutral rating and set a $5.00 target price for the company. in a research note on Tuesday, July 30th. HC Wainwright reiterated a buy rating and issued a $7.00 target price on shares of Pieris Pharmaceuticals in a research note on Friday, September 27th. William Blair reiterated a buy rating on shares of Pieris Pharmaceuticals in a research note on Friday, September 27th. Finally, ValuEngine cut shares of Pieris Pharmaceuticals from a strong-buy rating to a buy rating in a research note on Friday, September 27th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The stock currently has an average rating of Buy and a consensus price target of $5.42.
Shares of NASDAQ PIRS traded up $0.15 during mid-day trading on Friday, reaching $3.90. The company had a trading volume of 594,900 shares, compared to its average volume of 509,225. Pieris Pharmaceuticals has a twelve month low of $2.39 and a twelve month high of $6.04. The stock’s 50 day moving average is $3.60 and its 200-day moving average is $4.19. The stock has a market capitalization of $201.52 million, a PE ratio of -7.80 and a beta of 1.26.
Pieris Pharmaceuticals (NASDAQ:PIRS) last released its quarterly earnings results on Friday, August 9th. The biotechnology company reported ($0.24) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.21) by ($0.03). Pieris Pharmaceuticals had a negative net margin of 147.19% and a negative return on equity of 114.25%. The firm had revenue of $5.33 million for the quarter, compared to the consensus estimate of $7.32 million. Sell-side analysts forecast that Pieris Pharmaceuticals will post -0.91 EPS for the current fiscal year.
In related news, major shareholder Bvf Partners L. P/Il sold 50,000 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $4.50, for a total value of $225,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 6.59% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in PIRS. Nuveen Asset Management LLC bought a new position in Pieris Pharmaceuticals during the second quarter worth about $3,011,000. Clear Harbor Asset Management LLC lifted its stake in Pieris Pharmaceuticals by 1,691.9% during the third quarter. Clear Harbor Asset Management LLC now owns 179,191 shares of the biotechnology company’s stock worth $611,000 after purchasing an additional 169,191 shares during the period. Fosun International Ltd lifted its stake in Pieris Pharmaceuticals by 63.8% during the second quarter. Fosun International Ltd now owns 364,693 shares of the biotechnology company’s stock worth $1,616,000 after purchasing an additional 142,000 shares during the period. Renaissance Technologies LLC lifted its stake in Pieris Pharmaceuticals by 3.9% during the second quarter. Renaissance Technologies LLC now owns 2,168,700 shares of the biotechnology company’s stock worth $10,193,000 after purchasing an additional 80,900 shares during the period. Finally, Rock Creek Group LP bought a new position in Pieris Pharmaceuticals during the second quarter worth about $353,000. Hedge funds and other institutional investors own 56.59% of the company’s stock.
Pieris Pharmaceuticals Company Profile
Pieris Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, discovers and develops anticalin-based drugs in the United States. The company develops anticalin proteins that are low molecular-weight therapeutic proteins derived from lipocalins, which are naturally occurring low-molecular weight human proteins found in blood plasma and other bodily fluids.
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