Pieris Pharmaceuticals (NASDAQ:PIRS) has been given a $9.00 price objective by equities researchers at HC Wainwright in a research report issued to clients and investors on Wednesday, December 20th. The firm currently has a “buy” rating on the biotechnology company’s stock. HC Wainwright’s target price would indicate a potential upside of 20.64% from the stock’s current price.
Separately, ValuEngine downgraded Pieris Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Friday, December 1st. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $9.00.
Shares of Pieris Pharmaceuticals (NASDAQ PIRS) traded up $0.07 during mid-day trading on Wednesday, reaching $7.46. The company’s stock had a trading volume of 455,587 shares, compared to its average volume of 463,043. The firm has a market cap of $334.17, a price-to-earnings ratio of -10.22 and a beta of -76.25. Pieris Pharmaceuticals has a 12 month low of $1.66 and a 12 month high of $7.90.
Pieris Pharmaceuticals (NASDAQ:PIRS) last released its quarterly earnings results on Wednesday, November 8th. The biotechnology company reported ($0.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.05. The company had revenue of $3.93 million during the quarter, compared to the consensus estimate of $1.52 million. Pieris Pharmaceuticals had a negative return on equity of 221.93% and a negative net margin of 321.83%. The company’s revenue for the quarter was up 400.3% on a year-over-year basis. sell-side analysts forecast that Pieris Pharmaceuticals will post -0.72 earnings per share for the current year.
In other news, major shareholder Orbimed Advisors Llc sold 1,709,620 shares of the company’s stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $7.35, for a total transaction of $12,565,707.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 4.05% of the company’s stock.
A number of large investors have recently made changes to their positions in PIRS. Voya Investment Management LLC bought a new stake in Pieris Pharmaceuticals during the 2nd quarter valued at approximately $100,000. Wells Fargo & Company MN bought a new stake in Pieris Pharmaceuticals during the 3rd quarter valued at approximately $105,000. State of Wisconsin Investment Board bought a new stake in Pieris Pharmaceuticals during the 2nd quarter valued at approximately $132,000. The Manufacturers Life Insurance Company boosted its stake in Pieris Pharmaceuticals by 1,106.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 31,785 shares of the biotechnology company’s stock valued at $161,000 after purchasing an additional 29,150 shares during the period. Finally, Rhumbline Advisers bought a new stake in Pieris Pharmaceuticals during the 2nd quarter valued at approximately $184,000. Hedge funds and other institutional investors own 50.45% of the company’s stock.
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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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