Pieris Pharmaceuticals Inc (NASDAQ:PIRS) Receives $6.00 Average PT from Analysts

Shares of Pieris Pharmaceuticals Inc (NASDAQ:PIRS) have earned a consensus rating of “Buy” from the seven analysts that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $6.00.

A number of brokerages recently weighed in on PIRS. ValuEngine raised shares of Pieris Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th. HC Wainwright reissued a “buy” rating and issued a $7.00 price target on shares of Pieris Pharmaceuticals in a research report on Thursday, August 1st. William Blair reissued a “buy” rating on shares of Pieris Pharmaceuticals in a research report on Friday, August 16th. Zacks Investment Research raised shares of Pieris Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, August 17th. Finally, Robert W. Baird cut shares of Pieris Pharmaceuticals from an “outperform” rating to a “neutral” rating and set a $5.00 price target for the company. in a research report on Tuesday, July 30th.

In other news, major shareholder Bvf Partners L. P/Il sold 50,000 shares of the company’s 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 6.59% of the stock is currently owned by corporate insiders.

Several large investors have recently made changes to their positions in the company. Parametric Portfolio Associates LLC raised its holdings in shares of Pieris Pharmaceuticals by 25.4% in the second quarter. Parametric Portfolio Associates LLC now owns 21,177 shares of the biotechnology company’s stock valued at $100,000 after buying an additional 4,290 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Pieris Pharmaceuticals by 1,074.8% in the second quarter. Tower Research Capital LLC TRC now owns 5,874 shares of the biotechnology company’s stock valued at $28,000 after buying an additional 5,374 shares during the last quarter. Strs Ohio raised its holdings in shares of Pieris Pharmaceuticals by 7.5% in the second quarter. Strs Ohio now owns 112,900 shares of the biotechnology company’s stock valued at $530,000 after buying an additional 7,900 shares during the last quarter. Lindbrook Capital LLC purchased a new stake in shares of Pieris Pharmaceuticals in the second quarter valued at about $37,000. Finally, Clear Harbor Asset Management LLC purchased a new stake in shares of Pieris Pharmaceuticals in the second quarter valued at about $47,000. 55.11% of the stock is owned by institutional investors and hedge funds.

PIRS traded up $0.48 on Friday, reaching $5.76. The company had a trading volume of 2,006,060 shares, compared to its average volume of 550,393. Pieris Pharmaceuticals has a 1 year low of $2.39 and a 1 year high of $6.04. The stock has a market capitalization of $260.79 million, a PE ratio of -11.52 and a beta of 1.31. The stock has a 50-day moving average price of $4.97 and a 200-day moving average price of $4.11.

Pieris Pharmaceuticals (NASDAQ:PIRS) last announced its quarterly earnings results on Friday, August 9th. The biotechnology company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $5.33 million during the quarter, compared to analysts’ expectations of $7.32 million. On average, equities analysts expect that Pieris Pharmaceuticals will post -0.86 earnings per share for the current year.

About Pieris Pharmaceuticals

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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