Wall Street brokerages forecast that Pieris Pharmaceuticals Inc (NASDAQ:PIRS) will announce $6.92 million in sales for the current quarter, according to Zacks. Three analysts have provided estimates for Pieris Pharmaceuticals’ earnings, with the lowest sales estimate coming in at $4.50 million and the highest estimate coming in at $8.80 million. Pieris Pharmaceuticals posted sales of $18.15 million during the same quarter last year, which suggests a negative year-over-year growth rate of 61.9%. The business is scheduled to announce its next earnings report on Friday, March 8th.
According to Zacks, analysts expect that Pieris Pharmaceuticals will report full year sales of $31.11 million for the current fiscal year, with estimates ranging from $28.70 million to $33.00 million. For the next financial year, analysts anticipate that the company will post sales of $20.32 million, with estimates ranging from $12.00 million to $31.00 million. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Pieris Pharmaceuticals.
A number of analysts have recently issued reports on PIRS shares. BidaskClub raised Pieris Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Tuesday, October 16th. 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. ValuEngine lowered Pieris Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Saturday, November 10th. Finally, Cowen reaffirmed a “buy” rating on shares of Pieris Pharmaceuticals in a research report on Sunday, November 11th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. Pieris Pharmaceuticals has an average rating of “Buy” and an average price target of $10.00.
Several hedge funds and other institutional investors have recently made changes to their positions in PIRS. SG Americas Securities LLC purchased a new stake in shares of Pieris Pharmaceuticals during the fourth quarter worth about $36,000. Prudential Financial Inc. purchased a new stake in shares of Pieris Pharmaceuticals during the fourth quarter worth about $43,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Pieris Pharmaceuticals during the second quarter worth about $110,000. Rhumbline Advisers increased its position in shares of Pieris Pharmaceuticals by 51.5% during the fourth quarter. Rhumbline Advisers now owns 66,836 shares of the biotechnology company’s stock worth $178,000 after acquiring an additional 22,720 shares during the last quarter. Finally, California Public Employees Retirement System bought a new stake in Pieris Pharmaceuticals in the second quarter valued at about $179,000. 67.04% 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. 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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