Brokerages forecast that Pieris Pharmaceuticals Inc (NASDAQ:PIRS) will post sales of $11.39 million for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Pieris Pharmaceuticals’ earnings, with the lowest sales estimate coming in at $3.70 million and the highest estimate coming in at $30.00 million. Pieris Pharmaceuticals reported sales of $1.34 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 750%. The firm is scheduled to report its next earnings results on Wednesday, May 9th.
According to Zacks, analysts expect that Pieris Pharmaceuticals will report full year sales of $25.77 million for the current financial year, with estimates ranging from $15.80 million to $36.30 million. For the next fiscal year, analysts forecast that the company will report sales of $20.35 million per share, with estimates ranging from $12.00 million to $29.20 million. Zacks’ sales averages are an average based on a survey of analysts that follow Pieris Pharmaceuticals.
Pieris Pharmaceuticals (NASDAQ:PIRS) last issued its quarterly earnings results on Friday, March 9th. The biotechnology company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.21. Pieris Pharmaceuticals had a negative return on equity of 162.54% and a negative net margin of 69.82%. The company had revenue of $18.15 million during the quarter, compared to the consensus estimate of $7.63 million.
In other Pieris Pharmaceuticals news, major shareholder Orbimed Advisors Llc sold 7,897 shares of Pieris Pharmaceuticals stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $8.98, for a total value of $70,915.06. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 4.05% of the stock is owned by insiders.
Several hedge funds have recently modified their holdings of the company. BlackRock Inc. grew its stake in shares of Pieris Pharmaceuticals by 4.4% during the fourth quarter. BlackRock Inc. now owns 1,596,382 shares of the biotechnology company’s stock worth $12,053,000 after acquiring an additional 67,895 shares during the last quarter. Millennium Management LLC grew its stake in shares of Pieris Pharmaceuticals by 57.9% during the fourth quarter. Millennium Management LLC now owns 699,771 shares of the biotechnology company’s stock worth $5,283,000 after acquiring an additional 256,622 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Pieris Pharmaceuticals by 63.7% during the fourth quarter. Renaissance Technologies LLC now owns 650,100 shares of the biotechnology company’s stock worth $4,908,000 after acquiring an additional 253,000 shares during the last quarter. State Street Corp purchased a new stake in shares of Pieris Pharmaceuticals during the second quarter worth about $2,377,000. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in shares of Pieris Pharmaceuticals during the fourth quarter worth about $3,370,000. Institutional investors and hedge funds own 43.99% of the company’s stock.
Shares of NASDAQ:PIRS traded down $0.42 on Wednesday, hitting $6.43. 411,503 shares of the company’s stock were exchanged, compared to its average volume of 626,098. Pieris Pharmaceuticals has a 12 month low of $2.28 and a 12 month high of $9.75. The company has a market cap of $368.91, a price-to-earnings ratio of -16.08 and a beta of 1.71.
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About Pieris Pharmaceuticals
Pieris Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company. The Company’s pipeline includes immuno-oncology multi-specifics tailored for the tumor micro-environment, an inhaled Anticalin to treat uncontrolled asthma and a half-life-optimized Anticalin to treat anemia. Its Anticalins proteins are a class of low molecular-weight therapeutic proteins derived from lipocalins, which are naturally occurring low-molecular weight human proteins typically found in blood plasma and other bodily fluids.
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