Brokerages forecast that Pieris Pharmaceuticals Inc (NASDAQ:PIRS) will announce sales of $7.63 million for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Pieris Pharmaceuticals’ earnings. The highest sales estimate is $15.70 million and the lowest is $3.18 million. Pieris Pharmaceuticals posted sales of $2.73 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 179.5%. The company is scheduled to announce its next quarterly earnings results on Wednesday, March 28th.
According to Zacks, analysts expect that Pieris Pharmaceuticals will report full-year sales of $7.63 million for the current financial year, with estimates ranging from $10.30 million to $22.82 million. For the next year, analysts expect that the firm will report sales of $13.77 million per share, with estimates ranging from $10.50 million to $15.80 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Pieris Pharmaceuticals.
PIRS has been the subject of a number of recent analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $9.00 price target on shares of Pieris Pharmaceuticals in a report on Friday, November 10th. ValuEngine downgraded Pieris Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Friday, December 1st. BidaskClub raised Pieris Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Wednesday, December 27th. Finally, William Blair started coverage on Pieris Pharmaceuticals in a report on Wednesday, January 17th. They issued an “outperform” rating for the company. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $10.00.
Shares of Pieris Pharmaceuticals (NASDAQ:PIRS) opened at $8.63 on Tuesday. Pieris Pharmaceuticals has a fifty-two week low of $1.88 and a fifty-two week high of $9.75.
In related news, major shareholder Orbimed Advisors Llc sold 7,897 shares of the business’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $8.98, for a total value of $70,915.06. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders sold a total of 1,865,152 shares of company stock valued at $13,478,142 over the last three months. Company insiders own 4.05% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PIRS. Schwab Charles Investment Management Inc. acquired a new position in Pieris Pharmaceuticals during the 2nd quarter worth approximately $292,000. Bank of New York Mellon Corp acquired a new position in Pieris Pharmaceuticals during the 2nd quarter worth approximately $359,000. Teachers Advisors LLC acquired a new stake in shares of Pieris Pharmaceuticals in the 2nd quarter worth approximately $308,000. TIAA CREF Investment Management LLC acquired a new stake in shares of Pieris Pharmaceuticals in the 2nd quarter worth approximately $649,000. Finally, Northern Trust Corp acquired a new stake in shares of Pieris Pharmaceuticals in the 2nd quarter worth approximately $1,625,000. Institutional investors own 52.16% 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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