Zacks Investment Research upgraded shares of Pieris Pharmaceuticals (NASDAQ:PIRS) from a hold rating to a buy rating in a research note released on Saturday morning, Zacks.com reports. The brokerage currently has $3.75 price objective 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. “
PIRS has been the topic of a number of other research reports. ValuEngine raised shares of Pieris Pharmaceuticals from a hold rating to a buy rating in a research report on Friday, April 5th. HC Wainwright reissued a buy rating and set a $5.00 price objective on shares of Pieris Pharmaceuticals in a research report on Tuesday, March 19th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. The company has an average rating of Hold and an average price target of $4.38.
Shares of PIRS opened at $3.10 on Friday. The firm has a market cap of $158.27 million, a price-to-earnings ratio of -6.20 and a beta of 1.88. Pieris Pharmaceuticals has a 12 month low of $2.39 and a 12 month high of $6.94.
Pieris Pharmaceuticals (NASDAQ:PIRS) last issued its quarterly earnings results on Monday, March 18th. The biotechnology company reported ($0.21) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.16) by ($0.05). The firm had revenue of $4.91 million for the quarter, compared to the consensus estimate of $6.92 million. Pieris Pharmaceuticals had a negative net margin of 91.93% and a negative return on equity of 54.54%. On average, equities research analysts expect that Pieris Pharmaceuticals will post -0.81 EPS for the current fiscal year.
Hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new position in shares of Pieris Pharmaceuticals during the 4th quarter worth about $36,000. Prudential Financial Inc. bought a new position in shares of Pieris Pharmaceuticals during the 4th quarter worth about $43,000. Alambic Investment Management L.P. bought a new position in shares of Pieris Pharmaceuticals during the 4th quarter worth about $59,000. D. E. Shaw & Co. Inc. boosted its position in shares of Pieris Pharmaceuticals by 107.0% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 49,904 shares of the biotechnology company’s stock worth $133,000 after purchasing an additional 25,794 shares in the last quarter. Finally, Two Sigma Investments LP bought a new position in shares of Pieris Pharmaceuticals during the 4th quarter worth about $159,000. 70.73% of the stock is currently owned by institutional investors.
Pieris Pharmaceuticals Company Profile
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.
Further Reading: Special Dividends
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.