Pieris Pharmaceuticals Inc (NASDAQ:PIRS) Expected to Announce Quarterly Sales of $7.32 Million

Equities research analysts predict that Pieris Pharmaceuticals Inc (NASDAQ:PIRS) will post sales of $7.32 million for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Pieris Pharmaceuticals’ earnings, with the highest sales estimate coming in at $9.01 million and the lowest estimate coming in at $5.10 million. Pieris Pharmaceuticals posted sales of $11.69 million during the same quarter last year, which would indicate a negative year over year growth rate of 37.4%. The firm is expected to report its next quarterly earnings report on Thursday, August 8th.

On average, analysts expect that Pieris Pharmaceuticals will report full year sales of $30.24 million for the current fiscal year, with estimates ranging from $20.40 million to $35.58 million. For the next year, analysts forecast that the firm will post sales of $25.46 million, with estimates ranging from $13.33 million to $34.10 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Pieris Pharmaceuticals.

Pieris Pharmaceuticals (NASDAQ:PIRS) last issued its quarterly earnings data on Friday, May 10th. The biotechnology company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.02). Pieris Pharmaceuticals had a negative return on equity of 64.64% and a negative net margin of 84.75%. The company had revenue of $8.55 million during the quarter, compared to analyst estimates of $7.85 million.

PIRS has been the topic of a number of research reports. HC Wainwright set a $7.00 target price on shares of Pieris Pharmaceuticals and gave the stock a “buy” rating in a report on Thursday, May 23rd. Cowen reissued a “buy” rating on shares of Pieris Pharmaceuticals in a research report on Monday, May 13th. Zacks Investment Research raised shares of Pieris Pharmaceuticals from a “hold” rating to a “buy” rating and set a $3.50 price objective on the stock in a research report on Thursday, March 21st. Finally, ValuEngine raised shares of Pieris Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Friday, April 5th. Two analysts have rated the stock with a sell rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $5.08.

Shares of PIRS stock opened at $4.70 on Friday. The business has a 50 day moving average of $4.13. Pieris Pharmaceuticals has a one year low of $2.39 and a one year high of $6.55. The firm has a market cap of $217.73 million, a price-to-earnings ratio of -9.40 and a beta of 1.22.

A number of institutional investors have recently modified their holdings of PIRS. BNP Paribas Arbitrage SA acquired a new stake in shares of Pieris Pharmaceuticals in the 1st quarter worth $36,000. SG Americas Securities LLC acquired a new position in Pieris Pharmaceuticals during the fourth quarter worth about $36,000. Prudential Financial Inc. acquired a new position in Pieris Pharmaceuticals during the fourth quarter worth about $43,000. Alambic Investment Management L.P. acquired a new position in Pieris Pharmaceuticals during the fourth quarter worth about $59,000. Finally, D. E. Shaw & Co. Inc. raised its position in Pieris Pharmaceuticals by 107.0% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 49,904 shares of the biotechnology company’s stock worth $133,000 after acquiring an additional 25,794 shares during the last quarter. 59.70% of the stock is currently 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.

Read More: What are Closed-End Mutual Funds?

Get a free copy of the Zacks research report on Pieris Pharmaceuticals (PIRS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Pieris Pharmaceuticals (NASDAQ:PIRS)

Receive News & Ratings for Pieris Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pieris Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.