Analysts Anticipate Pieris Pharmaceuticals Inc (PIRS) Will Post Quarterly Sales of $6.16 Million

Equities analysts predict that Pieris Pharmaceuticals Inc (NASDAQ:PIRS) will announce $6.16 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Pieris Pharmaceuticals’ earnings. The lowest sales estimate is $4.40 million and the highest is $7.45 million. Pieris Pharmaceuticals posted sales of $3.93 million during the same quarter last year, which would indicate a positive year over year growth rate of 56.7%. The firm is scheduled to report its next quarterly earnings report on Wednesday, November 14th.

According to Zacks, analysts expect that Pieris Pharmaceuticals will report full year sales of $28.02 million for the current year, with estimates ranging from $24.80 million to $30.74 million. For the next financial year, analysts anticipate that the company will post sales of $21.24 million, with estimates ranging from $12.00 million to $31.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that follow Pieris Pharmaceuticals.

Pieris Pharmaceuticals (NASDAQ:PIRS) last released its quarterly earnings results on Thursday, August 9th. The biotechnology company reported $0.00 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by ($0.01). The company had revenue of $11.69 million during the quarter, compared to the consensus estimate of $13.46 million. Pieris Pharmaceuticals had a negative return on equity of 27.81% and a negative net margin of 22.38%.

Several research analysts have recently commented on the company. BidaskClub raised Pieris Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Tuesday, July 24th. HC Wainwright set a $12.00 price target on Pieris Pharmaceuticals and gave the stock a “buy” rating in a research report on Tuesday, September 4th. One analyst has rated the stock with a sell rating and six have given a buy rating to the company. Pieris Pharmaceuticals currently has an average rating of “Buy” and an average price target of $12.33.

In other Pieris Pharmaceuticals news, Director Christopher P. Kiritsy bought 5,000 shares of the company’s stock in a transaction that occurred on Friday, September 14th. The shares were purchased at an average cost of $5.11 per share, for a total transaction of $25,550.00. Following the purchase, the director now directly owns 10,000 shares in the company, valued at $51,100. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 5.07% of the stock is owned by insiders.

A number of hedge funds have recently made changes to their positions in PIRS. Aquilo Capital Management LLC purchased a new position in Pieris Pharmaceuticals during the 2nd quarter worth $10,013,000. Millennium Management LLC grew its stake in Pieris Pharmaceuticals by 160.7% during the 1st quarter. Millennium Management LLC now owns 1,824,109 shares of the biotechnology company’s stock worth $12,440,000 after buying an additional 1,124,338 shares during the last quarter. BlackRock Inc. grew its stake in Pieris Pharmaceuticals by 49.1% during the 2nd quarter. BlackRock Inc. now owns 2,685,490 shares of the biotechnology company’s stock worth $13,616,000 after buying an additional 884,348 shares during the last quarter. Prosight Management LP grew its stake in Pieris Pharmaceuticals by 141.2% during the 2nd quarter. Prosight Management LP now owns 1,360,000 shares of the biotechnology company’s stock worth $6,895,000 after buying an additional 796,237 shares during the last quarter. Finally, Acadian Asset Management LLC grew its stake in Pieris Pharmaceuticals by 45.5% during the 2nd quarter. Acadian Asset Management LLC now owns 2,124,873 shares of the biotechnology company’s stock worth $10,773,000 after buying an additional 664,032 shares during the last quarter. Hedge funds and other institutional investors own 64.93% of the company’s stock.

Shares of PIRS traded down $0.11 during trading hours on Monday, hitting $5.05. The company had a trading volume of 391,500 shares, compared to its average volume of 623,782. The firm has a market cap of $302.59 million, a price-to-earnings ratio of -12.83 and a beta of 1.62. Pieris Pharmaceuticals has a one year low of $4.43 and a one year high of $9.75.

About Pieris Pharmaceuticals

Pieris Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, discovers and develops anticalin-based drugs in the United States. It 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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