Pieris Pharmaceuticals (NASDAQ:PIRS) was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued on Thursday, ValuEngine reports.

Other equities research analysts have also issued reports about the stock. Zacks Investment Research raised shares of Pieris Pharmaceuticals from a “hold” rating to a “buy” rating and set a $3.50 price target for the company in a report on Thursday, March 21st. HC Wainwright reaffirmed a “buy” rating and set a $5.00 price target on shares of Pieris Pharmaceuticals in a report on Tuesday, March 19th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $4.25.

PIRS traded down $0.17 during trading hours on Thursday, reaching $3.39. 274,116 shares of the stock traded hands, compared to its average volume of 363,243. The firm has a market cap of $174.97 million, a price-to-earnings ratio of -6.78 and a beta of 1.88. Pieris Pharmaceuticals has a fifty-two week low of $2.39 and a fifty-two week high of $6.94.

Pieris Pharmaceuticals (NASDAQ:PIRS) last released its quarterly earnings results on Monday, March 18th. The biotechnology company reported ($0.21) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.16) by ($0.05). The firm had revenue of $4.91 million for the quarter, compared to analyst estimates of $6.92 million. Pieris Pharmaceuticals had a negative net margin of 91.93% and a negative return on equity of 54.54%. Analysts forecast that Pieris Pharmaceuticals will post -0.81 earnings per share for the current year.

A number of hedge funds have recently made changes to their positions in the business. Massachusetts Financial Services Co. MA grew its holdings in Pieris Pharmaceuticals by 8.4% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 70,498 shares of the biotechnology company’s stock worth $187,000 after acquiring an additional 5,487 shares in the last quarter. SG Americas Securities LLC acquired a new position in Pieris Pharmaceuticals during the 4th quarter worth $36,000. Prudential Financial Inc. acquired a new position in Pieris Pharmaceuticals during the 4th quarter worth $43,000. Alambic Investment Management L.P. acquired a new position in Pieris Pharmaceuticals during the 4th quarter worth $59,000. Finally, Rhumbline Advisers grew its holdings in Pieris Pharmaceuticals by 51.5% during the 4th quarter. Rhumbline Advisers now owns 66,836 shares of the biotechnology company’s stock worth $178,000 after acquiring an additional 22,720 shares in the last quarter. 70.73% of the stock is owned by institutional investors.

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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