BidaskClub Downgrades Pieris Pharmaceuticals (PIRS) to Buy

BidaskClub lowered shares of Pieris Pharmaceuticals (NASDAQ:PIRS) from a strong-buy rating to a buy rating in a research note released on Saturday.

Other equities analysts have also issued research reports about the company. HC Wainwright set a $12.00 price target on Pieris Pharmaceuticals and gave the company a buy rating in a research report on Friday, February 9th. ValuEngine upgraded Pieris Pharmaceuticals from a sell rating to a hold rating in a research report on Friday, February 2nd. Finally, William Blair began coverage on Pieris Pharmaceuticals in a research report on Wednesday, January 17th. They issued an outperform rating for the company. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The stock has a consensus rating of Buy and a consensus price target of $10.00.

Pieris Pharmaceuticals (PIRS) opened at $8.63 on Friday. Pieris Pharmaceuticals has a 1 year low of $1.88 and a 1 year high of $9.75. The firm has a market capitalization of $433.27, a price-to-earnings ratio of -11.66 and a beta of 1.74.

In related news, major shareholder Orbimed Advisors Llc sold 7,897 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $8.98, for a total value of $70,915.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 1,865,152 shares of company stock valued at $13,478,142 in the last quarter. 4.05% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in PIRS. Voya Investment Management LLC purchased a new stake in Pieris Pharmaceuticals in the 2nd quarter worth about $100,000. Wells Fargo & Company MN purchased a new stake in Pieris Pharmaceuticals in the 3rd quarter worth about $105,000. Cetera Advisor Networks LLC purchased a new stake in Pieris Pharmaceuticals in the 4th quarter worth about $124,000. Bank of Montreal Can purchased a new stake in Pieris Pharmaceuticals in the 4th quarter worth about $144,000. Finally, The Manufacturers Life Insurance Company lifted its stake 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 acquiring an additional 29,150 shares in the last quarter. 50.10% of the stock is owned by hedge funds and other institutional investors.

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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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