Pieris Pharmaceuticals (PIRS) Trading Up 6.2% After Analyst Upgrade
Pieris Pharmaceuticals Inc (NASDAQ:PIRS) was up 6.2% during mid-day trading on Wednesday after HC Wainwright raised their price target on the stock from $9.00 to $12.00. HC Wainwright currently has a buy rating on the stock. Pieris Pharmaceuticals traded as high as $7.58 and last traded at $7.35. Approximately 638,571 shares were traded during mid-day trading, an increase of 28% from the average daily volume of 497,655 shares. The stock had previously closed at $6.92.
A number of other equities research analysts have also recently issued reports on the stock. ValuEngine cut shares of Pieris Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Friday, December 1st. BidaskClub raised shares of Pieris Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Wednesday, December 27th. One research analyst has rated the stock with a sell rating and five have given a buy rating to the company. Pieris Pharmaceuticals currently has a consensus rating of “Buy” and a consensus target price of $10.00.
In related news, major shareholder Orbimed Advisors Llc sold 1,709,620 shares of the company’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 legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 4.05% of the company’s stock.
The firm has a market cap of $329.24, a PE ratio of -10.07 and a beta of -76.25.
Pieris Pharmaceuticals (NASDAQ:PIRS) last posted its quarterly earnings data on Wednesday, November 8th. The biotechnology company reported ($0.16) earnings per share for the quarter, topping 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 business had revenue of $3.93 million during the quarter, compared to analysts’ expectations of $1.52 million. The company’s quarterly revenue was up 400.3% compared to the same quarter last year. analysts forecast that Pieris Pharmaceuticals Inc will post -0.72 EPS for the current fiscal year.
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Pieris Pharmaceuticals Company Profile
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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