Pieris Pharmaceuticals (NASDAQ:PIRS) Upgraded at Zacks Investment Research

Share on StockTwits

Zacks Investment Research upgraded shares of Pieris Pharmaceuticals (NASDAQ:PIRS) from a hold rating to a buy rating in a research report report published on Thursday, Zacks.com reports. They currently have $5.00 target price on the biotechnology company’s stock.

According to Zacks, “Pieris Pharmaceuticals, Inc. is a biopharmaceutical company. The Company’s drug technology consists of Anticalin(R) to treat cancer, severe asthma, anemia and other medical conditions. Pieris Pharmaceuticals, Inc. is based in Freising-Weihenstephan, Germany. “

Several other research firms have also recently weighed in on PIRS. ValuEngine upgraded XOMA from a sell rating to a hold rating in a research note on Friday, May 24th. Robert W. Baird assumed coverage on TJX Companies in a research note on Monday, May 13th. They set an outperform rating and a $63.00 target price for the company. HC Wainwright set a $267.00 target price on Sarepta Therapeutics and gave the stock a buy rating in a research note on Monday, June 17th. Finally, Cowen restated a buy rating on shares of Alector in a research note on Monday, May 13th. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. Pieris Pharmaceuticals currently has a consensus rating of Buy and an average price target of $5.67.

PIRS stock opened at $4.34 on Thursday. The stock’s 50 day simple moving average is $4.39. Pieris Pharmaceuticals has a fifty-two week low of $2.39 and a fifty-two week high of $6.55.

Pieris Pharmaceuticals (NASDAQ:PIRS) last posted its earnings results on Friday, May 10th. The biotechnology company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.02). The business had revenue of $8.55 million for the quarter, compared to analysts’ expectations of $7.85 million. Pieris Pharmaceuticals had a negative return on equity of 64.64% and a negative net margin of 84.75%. As a group, analysts forecast that Pieris Pharmaceuticals will post -0.85 EPS for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Rhumbline Advisers boosted its holdings in Pieris Pharmaceuticals by 51.5% during the fourth quarter. Rhumbline Advisers now owns 66,836 shares of the biotechnology company’s stock worth $178,000 after purchasing an additional 22,720 shares during the last quarter. Prudential Financial Inc. purchased a new position in Pieris Pharmaceuticals during the fourth quarter worth about $43,000. Dimensional Fund Advisors LP purchased a new position in Pieris Pharmaceuticals during the fourth quarter worth about $374,000. Two Sigma Investments LP purchased a new position in Pieris Pharmaceuticals during the fourth quarter worth about $159,000. Finally, Hound Partners LLC purchased a new position in Pieris Pharmaceuticals during the fourth quarter worth about $266,000. 59.70% of the stock is currently owned by institutional investors.

About Pieris Pharmaceuticals

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

Recommended Story: Is it better to buy a fund with a higher or lower NAV?

Get a free copy of the Zacks research report on Pieris Pharmaceuticals (PIRS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Pieris Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pieris Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply