Pieris Pharmaceuticals Inc (PIRS) Receives $9.00 Average Price Target from Brokerages

Pieris Pharmaceuticals Inc (NASDAQ:PIRS) has earned a consensus recommendation of “Buy” from the six analysts that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $9.00.

A number of equities research analysts recently commented on PIRS shares. ValuEngine lowered shares of Pieris Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Friday, December 1st. BidaskClub upgraded shares of Pieris Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Wednesday. Finally, HC Wainwright set a $9.00 price target on shares of Pieris Pharmaceuticals and gave the company a “buy” rating in a report on Wednesday, October 18th.

In related news, major shareholder Orbimed Advisors Llc sold 147,635 shares of the company’s stock in a transaction on Monday, December 18th. The shares were sold at an average price of $5.70, for a total transaction of $841,519.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 4.05% of the company’s stock.

Large investors have recently bought and sold shares of the stock. Wells Fargo & Company MN bought a new stake in Pieris Pharmaceuticals during the 3rd quarter valued at $105,000. Voya Investment Management LLC bought a new position in Pieris Pharmaceuticals in the 2nd quarter worth $100,000. State of Wisconsin Investment Board bought a new position in Pieris Pharmaceuticals in the 2nd quarter worth $132,000. The Manufacturers Life Insurance Company raised its holdings in Pieris Pharmaceuticals by 1,106.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 31,785 shares of the biotechnology company’s stock worth $161,000 after purchasing an additional 29,150 shares in the last quarter. Finally, New York State Common Retirement Fund raised its holdings in Pieris Pharmaceuticals by 107.5% in the 3rd quarter. New York State Common Retirement Fund now owns 33,000 shares of the biotechnology company’s stock worth $190,000 after purchasing an additional 17,100 shares in the last quarter. Institutional investors own 50.45% of the company’s stock.

Shares of Pieris Pharmaceuticals (NASDAQ PIRS) traded up $0.12 on Tuesday, hitting $7.55. 705,125 shares of the stock were exchanged, compared to its average volume of 437,069. The company has a market cap of $338.19, a price-to-earnings ratio of -10.20 and a beta of 1.79. Pieris Pharmaceuticals has a 1 year low of $1.38 and a 1 year high of $7.74.

Pieris Pharmaceuticals (NASDAQ:PIRS) last announced its quarterly earnings data on Wednesday, November 8th. The biotechnology company reported ($0.16) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.21) by $0.05. The firm had revenue of $3.93 million during the quarter, compared to analyst estimates of $1.52 million. Pieris Pharmaceuticals had a negative net margin of 321.83% and a negative return on equity of 221.93%. The firm’s revenue was up 400.3% on a year-over-year basis. analysts expect that Pieris Pharmaceuticals will post -0.72 earnings per share for the current fiscal year.

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About Pieris Pharmaceuticals

Pieris Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company. The Company’s pipeline includes immuno-oncology multi-specifics tailored for the tumor micro-environment, an inhaled Anticalin to treat uncontrolled asthma and a half-life-optimized Anticalin to treat anemia. Its Anticalins proteins are a class of low molecular-weight therapeutic proteins derived from lipocalins, which are naturally occurring low-molecular weight human proteins typically found in blood plasma and other bodily fluids.

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