Pieris Pharmaceuticals Inc (NASDAQ:PIRS) shot up 6.7% on Monday . The company traded as high as $3.13 and last traded at $3.03. 517,585 shares were traded during trading, an increase of 36% from the average session volume of 380,417 shares. The stock had previously closed at $2.84.

A number of brokerages have weighed in on PIRS. BidaskClub lowered shares of Pieris Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Friday, October 26th. HC Wainwright set a $5.00 price objective on Pieris Pharmaceuticals and gave the company a “buy” rating in a research report on Wednesday, November 7th. ValuEngine cut Pieris Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Saturday, November 10th. Finally, Cowen reiterated 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 issued a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $10.00.

The stock has a market cap of $153.79 million, a P/E ratio of -7.58 and a beta of 1.87.

A number of hedge funds have recently made changes to their positions in PIRS. BlackRock Inc. increased its holdings in Pieris Pharmaceuticals by 49.1% during the second quarter. BlackRock Inc. now owns 2,685,490 shares of the biotechnology company’s stock valued at $13,616,000 after buying an additional 884,348 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in Pieris Pharmaceuticals by 433.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 769,551 shares of the biotechnology company’s stock valued at $2,047,000 after buying an additional 625,351 shares during the last quarter. Prosight Management LP increased its holdings in Pieris Pharmaceuticals by 22.2% during the third quarter. Prosight Management LP now owns 1,661,940 shares of the biotechnology company’s stock valued at $9,307,000 after buying an additional 301,940 shares during the last quarter. P.A.W. Capital Corp purchased a new stake in Pieris Pharmaceuticals during the third quarter valued at approximately $1,400,000. Finally, Fosun International Ltd purchased a new stake in Pieris Pharmaceuticals during the fourth quarter valued at approximately $479,000. 67.04% of the stock is owned by institutional investors and hedge funds.

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Pieris Pharmaceuticals Company Profile (NASDAQ:PIRS)

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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