Zacks Investment Research Downgrades Pieris Pharmaceuticals (PIRS) to Hold

Zacks Investment Research cut shares of Pieris Pharmaceuticals (NASDAQ:PIRS) from a buy rating to a hold rating in a research report released on Tuesday morning, Zacks.com reports.

According to Zacks, “Pieris Pharmaceuticals, Inc. is a biopharmaceutical company. The Company’s drug technology consists of Anticalin(R) to treat cancer, severe asthma, anemia and other medical conditions. Pieris Pharmaceuticals, Inc. is based in Freising-Weihenstephan, Germany. “

PIRS has been the subject of a number of other reports. ValuEngine raised Pieris Pharmaceuticals from a hold rating to a buy rating in a report on Friday, April 5th. HC Wainwright reissued a buy rating and issued a $5.00 target price on shares of Pieris Pharmaceuticals in a report on Tuesday, March 19th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. Pieris Pharmaceuticals presently has an average rating of Hold and a consensus price target of $4.13.

Shares of PIRS opened at $2.89 on Tuesday. Pieris Pharmaceuticals has a 1 year low of $2.39 and a 1 year high of $6.94. The company has a market capitalization of $142.05 million, a PE ratio of -5.78 and a beta of 1.88.

Pieris Pharmaceuticals (NASDAQ:PIRS) last issued its earnings results on Monday, March 18th. The biotechnology company reported ($0.21) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.16) by ($0.05). Pieris Pharmaceuticals had a negative return on equity of 54.54% and a negative net margin of 91.93%. The company had revenue of $4.91 million during the quarter, compared to analyst estimates of $6.92 million. Research analysts predict that Pieris Pharmaceuticals will post -0.81 earnings per share for the current year.

Institutional investors and hedge funds have recently modified their holdings of the company. 683 Capital Management LLC acquired a new position in shares of Pieris Pharmaceuticals in the 4th quarter worth approximately $400,000. Vanguard Group Inc. increased its holdings in Pieris Pharmaceuticals by 13.6% during the 3rd quarter. Vanguard Group Inc. now owns 370,616 shares of the biotechnology company’s stock valued at $2,076,000 after purchasing an additional 44,335 shares in the last quarter. Citadel Advisors LLC increased its holdings in Pieris Pharmaceuticals by 162.7% during the 3rd quarter. Citadel Advisors LLC now owns 193,617 shares of the biotechnology company’s stock valued at $1,084,000 after purchasing an additional 119,910 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in Pieris Pharmaceuticals by 433.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 769,551 shares of the biotechnology company’s stock valued at $2,047,000 after purchasing an additional 625,351 shares in the last quarter. Finally, Hound Partners LLC acquired a new stake in Pieris Pharmaceuticals during the 4th quarter valued at $266,000. 70.73% of the stock is owned by institutional investors and hedge funds.

Pieris Pharmaceuticals Company Profile

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