Pieris Pharmaceuticals Inc (NASDAQ:PIRS) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of Pieris Pharmaceuticals Inc (NASDAQ:PIRS) have earned an average recommendation of “Buy” from the seven brokerages that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $6.00.

Several research firms recently commented on PIRS. ValuEngine raised Pieris Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th. Cowen reaffirmed a “buy” rating on shares of Pieris Pharmaceuticals in a research report on Monday, May 13th. HC Wainwright reaffirmed a “buy” rating and set a $7.00 price objective on shares of Pieris Pharmaceuticals in a research report on Thursday, August 1st. William Blair reaffirmed a “buy” rating on shares of Pieris Pharmaceuticals in a research report on Friday, August 16th. Finally, Zacks Investment Research raised Pieris Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday.

Shares of Pieris Pharmaceuticals stock traded down $0.03 during trading on Wednesday, hitting $4.77. 12,798 shares of the company’s stock traded hands, compared to its average volume of 803,661. Pieris Pharmaceuticals has a 1 year low of $2.39 and a 1 year high of $6.04. The stock has a market capitalization of $233.62 million, a P/E ratio of -9.54 and a beta of 1.26. The business has a 50-day simple moving average of $4.84 and a 200-day simple moving average of $3.83.

A number of large investors have recently made changes to their positions in PIRS. Nuveen Asset Management LLC purchased a new position in Pieris Pharmaceuticals in the second quarter worth about $3,011,000. Bank of America Corp DE boosted its position in Pieris Pharmaceuticals by 793.1% in the fourth quarter. Bank of America Corp DE now owns 277,370 shares of the biotechnology company’s stock worth $739,000 after purchasing an additional 246,312 shares during the last quarter. Fosun International Ltd boosted its position in Pieris Pharmaceuticals by 63.8% in the second quarter. Fosun International Ltd now owns 364,693 shares of the biotechnology company’s stock worth $1,616,000 after purchasing an additional 142,000 shares during the last quarter. Dimensional Fund Advisors LP purchased a new position in Pieris Pharmaceuticals in the fourth quarter worth about $374,000. Finally, Granite Investment Partners LLC purchased a new position in Pieris Pharmaceuticals in the first quarter worth about $443,000. 56.15% of the stock is currently owned by institutional investors and hedge funds.

About Pieris Pharmaceuticals

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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