Pieris Pharmaceuticals Inc (PIRS) Expected to Post Quarterly Sales of $6.92 Million

Wall Street brokerages forecast that Pieris Pharmaceuticals Inc (NASDAQ:PIRS) will report $6.92 million in sales for the current quarter, Zacks reports. Three analysts have issued estimates for Pieris Pharmaceuticals’ earnings, with the highest sales estimate coming in at $8.80 million and the lowest estimate coming in at $4.50 million. Pieris Pharmaceuticals posted sales of $18.15 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 61.9%. The company is expected to report its next earnings results on Friday, March 8th.

On average, analysts expect that Pieris Pharmaceuticals will report full year sales of $31.11 million for the current year, with estimates ranging from $28.70 million to $33.00 million. For the next fiscal year, analysts forecast that the company will post sales of $20.32 million, with estimates ranging from $12.00 million to $31.00 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that cover Pieris Pharmaceuticals.

PIRS has been the topic of a number of research analyst reports. Cowen reiterated a “buy” rating on shares of Pieris Pharmaceuticals in a research report on Sunday, November 11th. BidaskClub downgraded Pieris Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Friday, October 26th. HC Wainwright set a $5.00 target price on Pieris Pharmaceuticals and gave the stock a “buy” rating in a research report on Wednesday, November 7th. Finally, ValuEngine downgraded Pieris Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Saturday, November 10th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $10.00.

Large investors have recently bought and sold shares of the stock. SG Americas Securities LLC purchased a new stake in shares of Pieris Pharmaceuticals in the fourth quarter worth about $36,000. Prudential Financial Inc. purchased a new stake in Pieris Pharmaceuticals during the fourth quarter valued at approximately $43,000. Alambic Investment Management L.P. purchased a new stake in Pieris Pharmaceuticals during the fourth quarter valued at approximately $59,000. Public Employees Retirement System of Ohio purchased a new stake in Pieris Pharmaceuticals during the second quarter valued at approximately $110,000. Finally, D. E. Shaw & Co. Inc. raised its position in Pieris Pharmaceuticals by 107.0% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 49,904 shares of the biotechnology company’s stock valued at $133,000 after purchasing an additional 25,794 shares during the period. Institutional investors own 67.04% of the company’s stock.

Shares of NASDAQ:PIRS traded up $0.08 during mid-day trading on Tuesday, reaching $3.07. The stock had a trading volume of 369,202 shares, compared to its average volume of 370,022. The company has a market capitalization of $157.58 million, a P/E ratio of -7.68 and a beta of 1.87. Pieris Pharmaceuticals has a 1 year low of $2.39 and a 1 year high of $9.13.

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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