Pieris Pharmaceuticals Inc (PIRS) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Pieris Pharmaceuticals Inc (NASDAQ:PIRS) have earned an average recommendation of “Buy” from the seven brokerages that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $10.00.

Several research analysts have recently issued reports on PIRS shares. HC Wainwright lifted their price target on Pieris Pharmaceuticals from $9.00 to $12.00 and gave the stock a “buy” rating in a research note on Tuesday, January 16th. ValuEngine raised Pieris Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Friday, February 2nd. William Blair started coverage on Pieris Pharmaceuticals in a research note on Wednesday, January 17th. They set an “outperform” rating for the company. Finally, BidaskClub raised Pieris Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Wednesday, December 27th.

Pieris Pharmaceuticals (NASDAQ:PIRS) traded up $0.57 during trading hours on Wednesday, hitting $9.45. The stock had a trading volume of 1,566,900 shares, compared to its average volume of 862,484. The firm has a market cap of $397.77, a P/E ratio of -12.77 and a beta of 1.57. Pieris Pharmaceuticals has a fifty-two week low of $1.88 and a fifty-two week high of $9.75.

In other news, major shareholder Orbimed Advisors Llc sold 1,709,620 shares of Pieris Pharmaceuticals stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $7.35, for a total transaction of $12,565,707.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 4.05% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the stock. Creative Planning increased its position in Pieris Pharmaceuticals by 18.2% during the 4th quarter. Creative Planning now owns 78,025 shares of the biotechnology company’s stock worth $589,000 after purchasing an additional 12,000 shares in the last quarter. Acadian Asset Management LLC increased its position in Pieris Pharmaceuticals by 14.0% during the 4th quarter. Acadian Asset Management LLC now owns 116,154 shares of the biotechnology company’s stock worth $877,000 after purchasing an additional 14,263 shares in the last quarter. Cetera Advisor Networks LLC purchased a new stake in Pieris Pharmaceuticals during the 4th quarter worth about $124,000. New York State Common Retirement Fund increased its position in Pieris Pharmaceuticals by 107.5% during the 3rd quarter. New York State Common Retirement Fund now owns 33,000 shares of the biotechnology company’s stock worth $190,000 after purchasing an additional 17,100 shares in the last quarter. Finally, Wells Fargo & Company MN purchased a new stake in Pieris Pharmaceuticals during the 3rd quarter worth about $105,000. Hedge funds and other institutional investors own 50.10% of the company’s stock.

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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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