Pieris Pharmaceuticals (PIRS) Price Target Raised to $12.00

Pieris Pharmaceuticals (NASDAQ:PIRS) had its target price lifted by HC Wainwright from $9.00 to $12.00 in a research report released on Tuesday morning, MarketBeat reports. They currently have a buy rating on the biotechnology company’s stock.

Several other research analysts also recently weighed in on PIRS. BidaskClub raised shares of Pieris Pharmaceuticals from a hold rating to a buy rating in a report on Wednesday, December 27th. ValuEngine downgraded shares of Pieris Pharmaceuticals from a hold rating to a sell rating in a report on Friday, December 1st. One research analyst has rated the stock with a sell rating and five have given a buy rating to the company. The stock has a consensus rating of Buy and an average price target of $10.00.

Shares of Pieris Pharmaceuticals (NASDAQ PIRS) traded up $0.05 during mid-day trading on Tuesday, hitting $7.42. 549,480 shares of the stock were exchanged, compared to its average volume of 480,531. Pieris Pharmaceuticals has a 12-month low of $1.66 and a 12-month high of $7.90. The company has a market cap of $332.37, a P/E ratio of -10.16 and a beta of -76.25.

Pieris Pharmaceuticals (NASDAQ:PIRS) last issued its earnings results on Wednesday, November 8th. The biotechnology company reported ($0.16) earnings per share 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 net margin of 321.83% and a negative return on equity of 221.93%. The company’s quarterly revenue was up 400.3% compared to the same quarter last year. equities research analysts expect that Pieris Pharmaceuticals will post -0.72 earnings per share for the current year.

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 value of $841,519.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 4.05% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in PIRS. Schwab Charles Investment Management Inc. bought a new position in shares of Pieris Pharmaceuticals during the 2nd quarter valued at about $292,000. Rhumbline Advisers bought a new position in shares of Pieris Pharmaceuticals during the 2nd quarter valued at about $184,000. Bank of New York Mellon Corp bought a new position in shares of Pieris Pharmaceuticals during the 2nd quarter valued at about $359,000. Teachers Advisors LLC bought a new position in shares of Pieris Pharmaceuticals during the 2nd quarter valued at about $308,000. Finally, TIAA CREF Investment Management LLC bought a new position in shares of Pieris Pharmaceuticals during the 2nd quarter valued at about $649,000. 50.45% of the stock is owned by institutional investors and hedge funds.

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Pieris Pharmaceuticals Company Profile

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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