Pieris Pharmaceuticals Inc (PIRS) Receives Average Recommendation of “Buy” from Brokerages
Shares of Pieris Pharmaceuticals Inc (NASDAQ:PIRS) have been assigned a consensus rating of “Buy” from the seven analysts that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $10.00.
PIRS has been the subject of several recent analyst reports. HC Wainwright raised their target price on shares of Pieris Pharmaceuticals from $9.00 to $12.00 and gave the company a “buy” rating in a research note on Tuesday, January 16th. William Blair initiated coverage on shares of Pieris Pharmaceuticals in a research note on Wednesday, January 17th. They issued an “outperform” rating for the company. BidaskClub upgraded shares of Pieris Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Wednesday, December 27th. Finally, ValuEngine downgraded shares of Pieris Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Friday, December 1st.
Shares of Pieris Pharmaceuticals (PIRS) traded down $0.44 on Wednesday, reaching $8.12. 1,700,000 shares of the company’s stock traded hands, compared to its average volume of 938,428. The firm has a market capitalization of $363.73, a P/E ratio of -11.12 and a beta of -78.08. Pieris Pharmaceuticals has a 52 week low of $1.88 and a 52 week high of $9.75.
Several hedge funds and other institutional investors have recently bought and sold shares of PIRS. State Street Corp purchased a new position in shares of Pieris Pharmaceuticals in the second quarter worth $2,377,000. Arrowstreet Capital Limited Partnership purchased a new position in shares of Pieris Pharmaceuticals in the fourth quarter worth $3,370,000. Northern Trust Corp purchased a new position in shares of Pieris Pharmaceuticals in the second quarter worth $1,625,000. Millennium Management LLC raised its holdings in shares of Pieris Pharmaceuticals by 57.9% in the fourth quarter. Millennium Management LLC now owns 699,771 shares of the biotechnology company’s stock worth $5,283,000 after buying an additional 256,622 shares during the last quarter. Finally, Renaissance Technologies LLC raised its holdings in shares of Pieris Pharmaceuticals by 63.7% in the fourth quarter. Renaissance Technologies LLC now owns 650,100 shares of the biotechnology company’s stock worth $4,908,000 after buying an additional 253,000 shares during the last quarter. 52.16% of the stock is owned by institutional investors and hedge funds.
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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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