Pieris Pharmaceuticals (NASDAQ:PIRS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday, Zacks.com reports. The brokerage currently has a $4.25 price objective on the biotechnology company’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 8.97% from the stock’s current price.
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. “
A number of other research analysts have also recently commented on the stock. ValuEngine cut shares of Pieris Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Friday, September 27th. William Blair reiterated a “buy” rating on shares of Pieris Pharmaceuticals in a report on Friday, September 27th. HC Wainwright reiterated a “buy” rating and issued a $7.00 price objective on shares of Pieris Pharmaceuticals in a report on Friday, September 27th. Finally, Robert W. Baird lowered shares of Pieris Pharmaceuticals from an “outperform” rating to a “neutral” rating and set a $5.00 price objective for the company. in a report on Tuesday, July 30th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Pieris Pharmaceuticals has a consensus rating of “Buy” and an average target price of $5.42.
Pieris Pharmaceuticals (NASDAQ:PIRS) last posted its earnings results on Friday, August 9th. The biotechnology company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.03). The company had revenue of $5.33 million during the quarter, compared to the consensus estimate of $7.32 million. Pieris Pharmaceuticals had a negative return on equity of 114.25% and a negative net margin of 147.19%. Sell-side analysts anticipate 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 firm’s stock in a transaction that occurred on 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. 6.59% of the stock is owned by company insiders.
Large investors have recently added to or reduced their stakes in the business. Parametric Portfolio Associates LLC grew its position in shares of Pieris Pharmaceuticals by 25.4% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 21,177 shares of the biotechnology company’s stock worth $100,000 after buying an additional 4,290 shares during the period. Tower Research Capital LLC TRC grew its position in shares of Pieris Pharmaceuticals by 1,074.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,874 shares of the biotechnology company’s stock worth $28,000 after buying an additional 5,374 shares during the period. Creative Planning grew its position in shares of Pieris Pharmaceuticals by 7.9% during the 3rd quarter. Creative Planning now owns 95,773 shares of the biotechnology company’s stock worth $327,000 after buying an additional 7,000 shares during the period. Strs Ohio grew its position in shares of Pieris Pharmaceuticals by 7.5% during the 2nd quarter. Strs Ohio now owns 112,900 shares of the biotechnology company’s stock worth $530,000 after buying an additional 7,900 shares during the period. Finally, Lindbrook Capital LLC acquired a new stake in shares of Pieris Pharmaceuticals during the 2nd quarter worth approximately $37,000. 56.59% of the stock is owned by institutional investors and hedge funds.
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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