Pieris Pharmaceuticals, Inc. (PIRS) Expected to Announce Quarterly Sales of $1.73 Million
Wall Street analysts predict that Pieris Pharmaceuticals, Inc. (NASDAQ:PIRS) will post $1.73 million in sales for the current quarter, Zacks reports. Two analysts have issued estimates for Pieris Pharmaceuticals’ earnings. The lowest sales estimate is $1.00 million and the highest is $2.45 million. Pieris Pharmaceuticals posted sales of $790,000.00 during the same quarter last year, which suggests a positive year over year growth rate of 119%. The company is scheduled to announce its next quarterly earnings results on Wednesday, November 8th.
On average, analysts expect that Pieris Pharmaceuticals will report full year sales of $1.73 million for the current year, with estimates ranging from $5.20 million to $8.20 million. For the next financial year, analysts expect that the business will post sales of $7.00 million per share, with estimates ranging from $5.40 million to $8.60 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Pieris Pharmaceuticals.
PIRS has been the topic of a number of recent research reports. BidaskClub lowered Pieris Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 26th. HC Wainwright set a $9.00 target price on Pieris Pharmaceuticals and gave the company a “buy” rating in a report on Monday, October 2nd. Four investment analysts have rated the stock with a buy rating, The company has an average rating of “Buy” and a consensus target price of $9.00.
Pieris Pharmaceuticals (NASDAQ PIRS) opened at 5.28 on Wednesday. Pieris Pharmaceuticals has a one year low of $1.30 and a one year high of $6.58. The company has a 50-day moving average of $5.72 and a 200 day moving average of $5.72. The firm’s market cap is $233.95 million.
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In other Pieris Pharmaceuticals news, insider Allan Reine acquired 65,000 shares of the company’s stock in a transaction that occurred on Thursday, August 17th. The shares were purchased at an average price of $4.82 per share, with a total value of $313,300.00. Following the completion of the acquisition, the insider now directly owns 45,000 shares of the company’s stock, valued at approximately $216,900. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director James A. Geraghty acquired 10,000 shares of the company’s stock in a transaction that occurred on Thursday, August 17th. The shares were acquired at an average cost of $4.82 per share, for a total transaction of $48,200.00. Following the acquisition, the director now directly owns 10,000 shares of the company’s stock, valued at $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 have recently made changes to their positions in the stock. California State Teachers Retirement System acquired a new position in Pieris Pharmaceuticals during the second quarter worth $308,000. The Manufacturers Life Insurance Company grew its holdings in Pieris Pharmaceuticals by 1,106.3% during the second quarter. The Manufacturers Life Insurance Company now owns 31,785 shares of the biotechnology company’s stock worth $161,000 after acquiring an additional 29,150 shares during the period. State Street Corp acquired a new position in Pieris Pharmaceuticals during the second quarter worth $2,377,000. Voya Investment Management LLC acquired a new position in Pieris Pharmaceuticals during the second quarter worth $100,000. Finally, Vanguard Group Inc. acquired a new position in Pieris Pharmaceuticals during the second quarter worth $526,000. 50.50% of the stock is currently owned by hedge funds and other institutional investors.
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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