Zacks Investment Research upgraded shares of Pieris Pharmaceuticals (NASDAQ:PIRS) from a sell rating to a hold rating in a research report report published on Saturday, Zacks.com reports.

According to Zacks, “Pieris Pharmaceuticals, Inc. is a biopharmaceutical company. The Company’s drug technology consists of Anticalin(R) to treat cancer, severe asthma, anemia and other medical conditions. Pieris Pharmaceuticals, Inc. is based in Freising-Weihenstephan, Germany. “

A number of other analysts have also recently weighed in on the stock. William Blair reaffirmed a buy rating on shares of Pieris Pharmaceuticals in a report on Friday. Cowen reaffirmed a buy rating on shares of Pieris Pharmaceuticals in a report on Monday, May 13th. ValuEngine raised shares of Pieris Pharmaceuticals from a buy rating to a strong-buy rating in a report on Monday, July 29th. Robert W. Baird cut shares of Pieris Pharmaceuticals from an outperform rating to a neutral rating and set a $5.00 price objective on the stock. in a report on Tuesday, July 30th. Finally, HC Wainwright reaffirmed a buy rating and issued a $7.00 price objective on shares of Pieris Pharmaceuticals in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of Buy and an average target price of $5.67.

PIRS stock opened at $4.80 on Friday. Pieris Pharmaceuticals has a fifty-two week low of $2.39 and a fifty-two week high of $6.04. The firm’s 50-day simple moving average is $4.84 and its 200 day simple moving average is $3.82. The stock has a market cap of $242.02 million, a PE ratio of -9.60 and a beta of 1.26.

Several hedge funds have recently added to or reduced their stakes in the stock. Wedge Capital Management L L P NC grew its position in Pieris Pharmaceuticals by 23.6% in the 1st quarter. Wedge Capital Management L L P NC now owns 525,324 shares of the biotechnology company’s stock valued at $1,760,000 after buying an additional 100,308 shares in the last quarter. Fosun International Ltd grew its position in Pieris Pharmaceuticals by 18.6% in the 1st quarter. Fosun International Ltd now owns 222,693 shares of the biotechnology company’s stock valued at $710,000 after buying an additional 35,000 shares in the last quarter. Dimensional Fund Advisors LP bought a new position in Pieris Pharmaceuticals in the 4th quarter valued at about $374,000. Deutsche Bank AG grew its position in Pieris Pharmaceuticals by 41.8% in the 4th quarter. Deutsche Bank AG now owns 190,266 shares of the biotechnology company’s stock valued at $505,000 after buying an additional 56,072 shares in the last quarter. Finally, Bank of America Corp DE grew its position in Pieris Pharmaceuticals by 793.1% in the 4th quarter. Bank of America Corp DE now owns 277,370 shares of the biotechnology company’s stock valued at $739,000 after buying an additional 246,312 shares in the last quarter. 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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