Pieris Pharmaceuticals (NASDAQ:PIRS) Now Covered by StockNews.com

StockNews.com initiated coverage on shares of Pieris Pharmaceuticals (NASDAQ:PIRS) in a note issued to investors on Monday. The firm set a “hold” rating on the biotechnology company’s stock.

Separately, William Blair cut shares of Pieris Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research note on Wednesday, June 21st.

Pieris Pharmaceuticals Trading Down 4.9 %

PIRS stock opened at $0.31 on Monday. The firm has a 50 day moving average of $0.27 and a 200-day moving average of $0.65. Pieris Pharmaceuticals has a 12-month low of $0.16 and a 12-month high of $1.97. The company has a market cap of $30.84 million, a price-to-earnings ratio of -0.84 and a beta of 0.75.

Pieris Pharmaceuticals (NASDAQ:PIRS) last issued its quarterly earnings data on Thursday, August 10th. The biotechnology company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.21. Pieris Pharmaceuticals had a negative net margin of 81.44% and a negative return on equity of 90.41%. The business had revenue of $20.06 million during the quarter, compared to analysts’ expectations of $3.76 million. Sell-side analysts forecast that Pieris Pharmaceuticals will post -0.35 earnings per share for the current fiscal year.

Institutional Trading of Pieris Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of PIRS. BVF Inc. IL grew its stake in Pieris Pharmaceuticals by 305.7% in the 2nd quarter. BVF Inc. IL now owns 20,609,863 shares of the biotechnology company’s stock worth $3,411,000 after acquiring an additional 15,529,543 shares during the period. Bank of America Corp DE grew its stake in Pieris Pharmaceuticals by 589.3% in the 4th quarter. Bank of America Corp DE now owns 3,665,668 shares of the biotechnology company’s stock worth $3,812,000 after acquiring an additional 3,133,838 shares during the period. Silverarc Capital Management LLC purchased a new stake in Pieris Pharmaceuticals in the 2nd quarter valued at about $159,000. CM Management LLC acquired a new position in shares of Pieris Pharmaceuticals during the 2nd quarter valued at about $91,000. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Pieris Pharmaceuticals during the 1st quarter worth about $1,263,000. 75.03% of the stock is owned by hedge funds and other institutional investors.

Pieris Pharmaceuticals Company Profile

Pieris Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, discovers and develops anticalin-based drugs. 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 human blood plasma and other bodily fluids.