$3.59 Million in Sales Expected for Pieris Pharmaceuticals Inc (PIRS) This Quarter

Equities research analysts predict that Pieris Pharmaceuticals Inc (NASDAQ:PIRS) will post $3.59 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Pieris Pharmaceuticals’ earnings, with estimates ranging from $3.18 million to $4.00 million. Pieris Pharmaceuticals reported sales of $2.73 million during the same quarter last year, which indicates a positive year-over-year growth rate of 31.5%. The business is scheduled to report its next earnings results on Wednesday, March 28th.

According to Zacks, analysts expect that Pieris Pharmaceuticals will report full year sales of $3.59 million for the current financial year, with estimates ranging from $10.30 million to $11.12 million. For the next fiscal year, analysts anticipate that the company will post sales of $12.75 million per share, with estimates ranging from $10.50 million to $15.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Pieris Pharmaceuticals.

Pieris Pharmaceuticals (NASDAQ:PIRS) last issued its earnings results on Wednesday, November 8th. The biotechnology company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.05. Pieris Pharmaceuticals had a negative net margin of 321.83% and a negative return on equity of 221.93%. The business had revenue of $3.93 million during the quarter, compared to analysts’ expectations of $1.52 million. The company’s revenue was up 400.3% on a year-over-year basis.

Several brokerages have recently issued reports on PIRS. William Blair began coverage on shares of Pieris Pharmaceuticals in a report on Wednesday. They issued an “outperform” rating for the company. HC Wainwright upped their target price on shares of Pieris Pharmaceuticals from $9.00 to $12.00 and gave the company a “buy” rating in a report on Tuesday. BidaskClub upgraded shares of Pieris Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Wednesday, December 27th. Finally, ValuEngine cut shares of Pieris Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Friday, December 1st. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $10.00.

Shares of Pieris Pharmaceuticals (NASDAQ PIRS) traded down $0.54 during trading on Wednesday, hitting $6.92. 922,700 shares of the stock traded hands, compared to its average volume of 483,570. Pieris Pharmaceuticals has a fifty-two week low of $1.66 and a fifty-two week high of $7.90. The firm has a market cap of $329.24, a PE ratio of -9.48 and a beta of -76.25.

In related news, major shareholder Orbimed Advisors Llc sold 1,709,620 shares of the stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $7.35, for a total transaction of $12,565,707.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 4.05% of the stock is owned by corporate insiders.

Institutional investors have recently made changes to their positions in the business. Teachers Advisors LLC purchased a new position in Pieris Pharmaceuticals during the 2nd quarter worth $308,000. First Quadrant L P CA purchased a new position in Pieris Pharmaceuticals during the 3rd quarter worth $473,000. Northern Trust Corp purchased a new position in Pieris Pharmaceuticals during the 2nd quarter worth $1,625,000. Schwab Charles Investment Management Inc. purchased a new position in Pieris Pharmaceuticals during the 2nd quarter worth $292,000. Finally, Voya Investment Management LLC purchased a new position in Pieris Pharmaceuticals during the 2nd quarter worth $100,000. Institutional investors own 50.45% of the company’s stock.

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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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