Wall Street brokerages expect Pieris Pharmaceuticals Inc (NASDAQ:PIRS) to post sales of $11.39 million for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Pieris Pharmaceuticals’ earnings, with the lowest sales estimate coming in at $3.70 million and the highest estimate coming in at $30.00 million. Pieris Pharmaceuticals reported sales of $1.34 million during the same quarter last year, which indicates a positive year-over-year growth rate of 750%. The company is scheduled to report its next quarterly earnings report on Wednesday, May 9th.
On average, analysts expect that Pieris Pharmaceuticals will report full-year sales of $11.39 million for the current financial year, with estimates ranging from $15.80 million to $36.30 million. For the next fiscal year, analysts forecast that the company will post sales of $20.35 million per share, with estimates ranging from $12.00 million to $29.20 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover Pieris Pharmaceuticals.
A number of brokerages have issued reports on PIRS. Evercore ISI began coverage on Pieris Pharmaceuticals in a research report on Monday, March 19th. They set an “outperform” rating and a $13.00 price target for the company. Jefferies Group began coverage on Pieris Pharmaceuticals in a research report on Monday, March 19th. They set a “buy” rating and a $12.00 price target for the company. BidaskClub lowered Pieris Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Saturday, March 17th. HC Wainwright reiterated a “buy” rating and set a $12.00 price target on shares of Pieris Pharmaceuticals in a research report on Friday, March 9th. Finally, ValuEngine upgraded Pieris Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, February 2nd. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Pieris Pharmaceuticals presently has an average rating of “Buy” and a consensus target price of $11.00.
In other Pieris Pharmaceuticals news, major shareholder Orbimed Advisors Llc sold 1,709,620 shares of the business’s stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $7.35, for a total transaction of $12,565,707.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 4.05% of the company’s stock.
Several institutional investors have recently made changes to their positions in PIRS. State Street Corp acquired a new stake in shares of Pieris Pharmaceuticals in the second quarter valued at $2,377,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Pieris Pharmaceuticals in the fourth quarter valued at $3,370,000. Northern Trust Corp acquired a new stake in shares of Pieris Pharmaceuticals in the second quarter valued at $1,625,000. Millennium Management LLC lifted its holdings in shares of Pieris Pharmaceuticals by 57.9% in the fourth quarter. Millennium Management LLC now owns 699,771 shares of the biotechnology company’s stock valued at $5,283,000 after buying an additional 256,622 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in shares of Pieris Pharmaceuticals by 63.7% in the fourth quarter. Renaissance Technologies LLC now owns 650,100 shares of the biotechnology company’s stock valued at $4,908,000 after buying an additional 253,000 shares during the period. Institutional investors and hedge funds own 47.19% 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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