ValuEngine upgraded shares of Pieris Pharmaceuticals (NASDAQ:PIRS) from a sell rating to a hold rating in a research report report published on Friday.

A number of other research firms also recently issued reports on PIRS. HC Wainwright raised their price objective on shares of Pieris Pharmaceuticals from $9.00 to $12.00 and gave the stock a buy rating in a report on Tuesday, January 16th. William Blair started coverage on shares of Pieris Pharmaceuticals in a report on Wednesday, January 17th. They set an outperform rating for the company. Finally, BidaskClub upgraded shares of Pieris Pharmaceuticals from a hold rating to a buy rating in a report on Wednesday, December 27th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Pieris Pharmaceuticals currently has an average rating of Buy and a consensus target price of $10.00.

Shares of Pieris Pharmaceuticals (NASDAQ PIRS) traded up $0.40 during mid-day trading on Friday, hitting $8.07. 1,019,168 shares of the stock traded hands, compared to its average volume of 609,586. The stock has a market capitalization of $380.34, a P/E ratio of -11.05 and a beta of -78.08. Pieris Pharmaceuticals has a 52 week low of $1.88 and a 52 week high of $8.34.

Pieris Pharmaceuticals (NASDAQ:PIRS) last announced its earnings results on Wednesday, November 8th. The biotechnology company reported ($0.16) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.21) by $0.05. Pieris Pharmaceuticals had a negative net margin of 321.83% and a negative return on equity of 221.93%. The company had revenue of $3.93 million during the quarter, compared to the consensus estimate of $1.52 million. The company’s quarterly revenue was up 400.3% on a year-over-year basis. analysts forecast that Pieris Pharmaceuticals will post -0.62 EPS for the current year.

In related news, major shareholder Orbimed Advisors Llc sold 1,709,620 shares of the firm’s stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $7.35, for a total transaction of $12,565,707.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 4.05% of the company’s stock.

Large investors have recently modified their holdings of the business. Wells Fargo & Company MN bought a new position in Pieris Pharmaceuticals during the third quarter worth about $105,000. Bank of Montreal Can bought a new position in Pieris Pharmaceuticals during the fourth quarter worth about $144,000. Voya Investment Management LLC bought a new position in Pieris Pharmaceuticals during the second quarter worth about $100,000. The Manufacturers Life Insurance Company boosted its position in Pieris Pharmaceuticals by 1,106.3% during the second quarter. The Manufacturers Life Insurance Company now owns 31,785 shares of the biotechnology company’s stock worth $161,000 after purchasing an additional 29,150 shares during the period. Finally, New York State Common Retirement Fund boosted its position in shares of Pieris Pharmaceuticals by 107.5% in the third quarter. New York State Common Retirement Fund now owns 33,000 shares of the biotechnology company’s stock valued at $190,000 after acquiring an additional 17,100 shares during the period. Hedge funds and other institutional investors own 50.77% 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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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