Zacks Investment Research upgraded shares of Pieris Pharmaceuticals (NASDAQ:PIRS) from a sell rating to a hold rating in a report issued on Saturday, Zacks.com reports.

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 equities research analysts also recently issued reports on PIRS. Cowen reiterated a buy rating on shares of Pieris Pharmaceuticals in a research note on Monday, May 13th. ValuEngine upgraded shares of Pieris Pharmaceuticals from a buy rating to a strong-buy rating in a research note on Monday, July 29th. Robert W. Baird downgraded shares of Pieris Pharmaceuticals from an outperform rating to a neutral rating and set a $5.00 price objective for the company. in a research note on Tuesday, July 30th. William Blair reiterated a buy rating on shares of Pieris Pharmaceuticals in a research note on Friday. Finally, HC Wainwright reiterated a buy rating and set a $7.00 price objective on shares of Pieris Pharmaceuticals in a research note on Thursday, August 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of Buy and an average target price of $5.67.

Shares of PIRS stock opened at $4.80 on Friday. Pieris Pharmaceuticals has a one year low of $2.39 and a one year high of $6.04. The company has a 50 day moving average price of $4.84 and a 200 day moving average price of $3.82. The firm has a market capitalization of $242.02 million, a price-to-earnings ratio of -9.60 and a beta of 1.26.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC boosted its stake in shares of Pieris Pharmaceuticals by 1,074.8% in the second quarter. Tower Research Capital LLC TRC now owns 5,874 shares of the biotechnology company’s stock valued at $28,000 after purchasing an additional 5,374 shares during the period. BNP Paribas Arbitrage SA purchased a new position in shares of Pieris Pharmaceuticals in the first quarter valued at $36,000. Lindbrook Capital LLC purchased a new position in shares of Pieris Pharmaceuticals in the second quarter valued at $37,000. Clear Harbor Asset Management LLC purchased a new position in shares of Pieris Pharmaceuticals in the second quarter valued at $47,000. Finally, Jane Street Group LLC purchased a new position in shares of Pieris Pharmaceuticals in the second quarter valued at $47,000. Institutional investors own 56.15% of the company’s stock.

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.

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