Pieris Pharmaceuticals, Inc. (PIRS) Stock Price Up 6.8%
Pieris Pharmaceuticals, Inc. (NASDAQ:PIRS) rose 6.8% during trading on Thursday . The company traded as high as $5.87 and last traded at $5.78. Approximately 536,071 shares changed hands during trading, a decline of 16% from the average daily volume of 636,335 shares. The stock had previously closed at $5.41.
PIRS has been the subject of a number of recent research reports. BidaskClub downgraded shares of Pieris Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 26th. HC Wainwright set a $9.00 price target on shares of Pieris Pharmaceuticals and gave the stock a “buy” rating in a report on Monday, October 2nd. Four research analysts have rated the stock with a buy rating, The stock has an average rating of “Buy” and an average target price of $9.00.
Pieris Pharmaceuticals (NASDAQ:PIRS) last released its earnings results on Wednesday, November 8th. The biotechnology company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.05. Pieris Pharmaceuticals had a negative net margin of 321.83% and a negative return on equity of 180.85%. The firm had revenue of $3.93 million during the quarter, compared to the consensus estimate of $1.52 million. Pieris Pharmaceuticals’s revenue was up 400.3% on a year-over-year basis. sell-side analysts forecast that Pieris Pharmaceuticals, Inc. will post -0.72 EPS for the current fiscal year.
A number of institutional investors have recently added to or reduced their stakes in PIRS. Voya Investment Management LLC purchased a new stake in Pieris Pharmaceuticals in the second quarter valued at approximately $100,000. Wells Fargo & Company MN purchased a new stake in Pieris Pharmaceuticals in the third quarter valued at approximately $105,000. State of Wisconsin Investment Board purchased a new stake in Pieris Pharmaceuticals in the second quarter valued at approximately $132,000. The Manufacturers Life Insurance Company grew its holdings in Pieris Pharmaceuticals by 1,106.3% in the second quarter. The Manufacturers Life Insurance Company now owns 31,785 shares of the biotechnology company’s stock valued at $161,000 after purchasing an additional 29,150 shares during the period. Finally, Acadian Asset Management LLC purchased a new stake in Pieris Pharmaceuticals in the second quarter valued at approximately $162,000. Hedge funds and other institutional investors own 50.59% 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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