Pieris Pharmaceuticals (PIRS) Sees Unusually-High Trading Volume

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Shares of Pieris Pharmaceuticals Inc (NASDAQ:PIRS) saw strong trading volume on Thursday . 1,280,050 shares changed hands during mid-day trading, an increase of 210% from the previous session’s volume of 413,502 shares.The stock last traded at $2.87 and had previously closed at $2.66.

Several research analysts have recently commented on PIRS shares. ValuEngine downgraded Pieris Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Saturday, November 10th. HC Wainwright set a $5.00 target price on Pieris Pharmaceuticals and gave the stock a “buy” rating in a research note on Wednesday, November 7th. BidaskClub downgraded Pieris Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Friday, October 26th. Finally, Cowen reiterated a “buy” rating on shares of Pieris Pharmaceuticals in a research note on Sunday, November 11th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $10.00.

The company has a market capitalization of $144.04 million, a P/E ratio of -7.18 and a beta of 1.98.

Pieris Pharmaceuticals (NASDAQ:PIRS) last issued its earnings results on Wednesday, November 7th. The biotechnology company reported ($0.11) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.15) by $0.04. Pieris Pharmaceuticals had a negative return on equity of 18.07% and a negative net margin of 17.90%. The company had revenue of $8.35 million during the quarter, compared to the consensus estimate of $6.16 million. Research analysts predict that Pieris Pharmaceuticals Inc will post -0.45 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the company. Public Employees Retirement System of Ohio bought a new stake in Pieris Pharmaceuticals in the 2nd quarter valued at $110,000. Rhumbline Advisers boosted its stake in Pieris Pharmaceuticals by 51.5% in the 4th quarter. Rhumbline Advisers now owns 66,836 shares of the biotechnology company’s stock valued at $178,000 after purchasing an additional 22,720 shares during the period. California Public Employees Retirement System bought a new stake in Pieris Pharmaceuticals in the 2nd quarter valued at $179,000. Trexquant Investment LP boosted its stake in Pieris Pharmaceuticals by 119.7% in the 3rd quarter. Trexquant Investment LP now owns 48,971 shares of the biotechnology company’s stock valued at $274,000 after purchasing an additional 26,680 shares during the period. Finally, Unterberg Capital LLC bought a new stake in Pieris Pharmaceuticals in the 3rd quarter valued at $308,000. Institutional investors own 65.36% of the company’s stock.

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Pieris Pharmaceuticals Company Profile (NASDAQ:PIRS)

Pieris Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, discovers and develops anticalin-based drugs in the United States. It 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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