Pieris Pharmaceuticals (NASDAQ:PIRS) has been given a $12.00 price objective by equities research analysts at HC Wainwright in a research note issued to investors on Thursday, June 7th. The firm currently has a “buy” rating on the biotechnology company’s stock. HC Wainwright’s price objective would indicate a potential upside of 132.11% from the stock’s current price.
Several other equities research analysts have also recently issued reports on PIRS. ValuEngine cut Pieris Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Tuesday, May 29th. Jefferies Financial Group assumed coverage on Pieris Pharmaceuticals in a report on Monday, March 19th. They issued a “buy” rating and a $12.00 target price on the stock. BidaskClub lowered Pieris Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Saturday, March 17th. Evercore ISI assumed coverage on Pieris Pharmaceuticals in a research report on Monday, March 19th. They issued an “outperform” rating and a $13.00 price objective on the stock. Finally, Cowen began coverage on Pieris Pharmaceuticals in a research report on Friday, May 4th. They issued an “outperform” rating on the stock. One analyst has rated the stock with a sell rating and six have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $12.33.
NASDAQ PIRS opened at $5.17 on Thursday. Pieris Pharmaceuticals has a 1-year low of $4.21 and a 1-year high of $9.75.
In related news, Director James A. Geraghty bought 10,000 shares of the firm’s stock in a transaction on Tuesday, May 15th. The stock was bought at an average cost of $5.75 per share, for a total transaction of $57,500.00. Following the completion of the purchase, the director now directly owns 20,000 shares in the company, valued at approximately $115,000. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Orbimed Advisors Llc sold 1,000,000 shares of Pieris Pharmaceuticals stock in a transaction that occurred on Monday, April 30th. The shares were sold at an average price of $6.35, for a total value of $6,350,000.00. The disclosure for this sale can be found here. 4.05% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of PIRS. EAM Global Investors LLC bought a new stake in Pieris Pharmaceuticals during the first quarter worth approximately $857,000. Allianz Asset Management GmbH bought a new stake in Pieris Pharmaceuticals during the first quarter worth approximately $1,278,000. Alpine Global Management LLC bought a new stake in Pieris Pharmaceuticals during the first quarter worth approximately $136,000. Millennium Management LLC raised its holdings in Pieris Pharmaceuticals by 160.7% during the first quarter. Millennium Management LLC now owns 1,824,109 shares of the biotechnology company’s stock worth $12,440,000 after purchasing an additional 1,124,338 shares in the last quarter. Finally, Cubist Systematic Strategies LLC raised its holdings in Pieris Pharmaceuticals by 245.6% during the first quarter. Cubist Systematic Strategies LLC now owns 41,391 shares of the biotechnology company’s stock worth $282,000 after purchasing an additional 29,413 shares in the last quarter. Institutional investors and hedge funds own 63.12% of the company’s stock.
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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