Pieris Pharmaceuticals, Inc. (PIRS) Expected to Post Quarterly Sales of $1.73 Million
Wall Street brokerages expect Pieris Pharmaceuticals, Inc. (NASDAQ:PIRS) to report sales of $1.73 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Pieris Pharmaceuticals’ earnings, with the lowest sales estimate coming in at $1.00 million and the highest estimate coming in at $2.45 million. Pieris Pharmaceuticals posted sales of $790,000.00 in the same quarter last year, which would indicate a positive year-over-year growth rate of 119%. The firm is expected to issue its next earnings results on Wednesday, November 8th.
According to Zacks, analysts expect that Pieris Pharmaceuticals will report full-year sales of $1.73 million for the current fiscal year, with estimates ranging from $5.20 million to $8.20 million. For the next year, analysts forecast that the business will post sales of $7.00 million per share, with estimates ranging from $5.40 million to $8.60 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Pieris Pharmaceuticals.
Several analysts have weighed in on the company. HC Wainwright set a $9.00 price target on Pieris Pharmaceuticals and gave the company a “buy” rating in a report on Monday, October 2nd. BidaskClub cut Pieris Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 26th. Four investment analysts have rated the stock with a buy rating, The stock presently has a consensus rating of “Buy” and an average price target of $9.00.
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In other news, Director James A. Geraghty acquired 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 17th. The shares were bought at an average cost of $4.82 per share, with a total value of $48,200.00. Following the acquisition, the director now owns 10,000 shares in the company, valued at approximately $48,200. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Allan Reine acquired 65,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 17th. The shares were purchased at an average cost of $4.82 per share, for a total transaction of $313,300.00. Following the completion of the acquisition, the insider now owns 45,000 shares in the company, valued at approximately $216,900. The disclosure for this purchase can be found here. Company insiders own 4.05% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in PIRS. Renaissance Technologies LLC purchased a new position in shares of Pieris Pharmaceuticals during the 1st quarter valued at about $661,000. Creative Planning raised its holdings in shares of Pieris Pharmaceuticals by 8.3% during the 2nd quarter. Creative Planning now owns 65,000 shares of the biotechnology company’s stock valued at $329,000 after buying an additional 5,000 shares in the last quarter. Acadian Asset Management LLC purchased a new position in shares of Pieris Pharmaceuticals during the 2nd quarter valued at about $162,000. Schwab Charles Investment Management Inc. purchased a new position in shares of Pieris Pharmaceuticals during the 2nd quarter valued at about $292,000. Finally, Rhumbline Advisers purchased a new position in shares of Pieris Pharmaceuticals during the 2nd quarter valued at about $184,000. 50.50% of the stock is currently owned by institutional investors.
Shares of Pieris Pharmaceuticals (NASDAQ:PIRS) traded down 1.96% on Wednesday, reaching $5.00. The company’s stock had a trading volume of 340,930 shares. Pieris Pharmaceuticals has a 12 month low of $1.30 and a 12 month high of $6.58. The stock’s market cap is $221.54 million. The firm’s 50-day moving average price is $5.62 and its 200-day moving average price is $5.62.
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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