Shares of Pieris Pharmaceuticals, Inc. (NASDAQ:PIRS) have been assigned an average recommendation of “Buy” from the six analysts that are presently covering the firm, MarketBeat.com reports. Five analysts have rated the stock with a buy recommendation. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $8.25.

Several analysts have recently commented on the stock. HC Wainwright set a $9.00 price objective on shares of Pieris Pharmaceuticals and gave the company a “buy” rating in a research report on Friday, August 11th. TheStreet downgraded shares of Pieris Pharmaceuticals from a “c-” rating to a “d-” rating in a research report on Monday, June 12th. BidaskClub downgraded shares of Pieris Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 26th. Finally, Rodman & Renshaw assumed coverage on shares of Pieris Pharmaceuticals in a research report on Tuesday, May 30th. They set a “buy” rating and a $9.00 price objective on the stock.

In related news, insider Allan Reine purchased 65,000 shares of Pieris Pharmaceuticals stock in a transaction on Thursday, August 17th. The shares were bought at an average cost of $4.82 per share, for a total transaction of $313,300.00. Following the acquisition, the insider now owns 45,000 shares in the company, valued at approximately $216,900. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James A. Geraghty purchased 10,000 shares of Pieris Pharmaceuticals stock in a transaction on Thursday, August 17th. The stock was bought at an average price of $4.82 per share, for a total transaction of $48,200.00. Following the completion of the acquisition, the director now owns 10,000 shares in the company, valued at approximately $48,200. The disclosure for this purchase can be found here. Insiders own 4.05% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. California State Teachers Retirement System bought a new stake in Pieris Pharmaceuticals in the 2nd quarter valued at $308,000. The Manufacturers Life Insurance Company increased its holdings in Pieris Pharmaceuticals by 1,106.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 31,785 shares of the biotechnology company’s stock valued at $161,000 after acquiring an additional 29,150 shares during the last quarter. State Street Corp bought a new stake in Pieris Pharmaceuticals in the 2nd quarter valued at $2,377,000. Voya Investment Management LLC bought a new stake in Pieris Pharmaceuticals in the 2nd quarter valued at $100,000. Finally, Vanguard Group Inc. bought a new stake in Pieris Pharmaceuticals in the 2nd quarter valued at $526,000. Institutional investors own 50.55% of the company’s stock.

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Pieris Pharmaceuticals (NASDAQ:PIRS) traded up 0.95% on Tuesday, hitting $5.33. 187,351 shares of the stock traded hands. Pieris Pharmaceuticals has a 52-week low of $1.30 and a 52-week high of $6.20. The stock’s market cap is $236.16 million. The company’s 50 day moving average price is $5.17 and its 200-day moving average price is $3.98.

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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