Cowen & Co. Maintains Their Buy Rating on Pieris Pharmaceuticals

Cowen & Co. analyst Chris Shibutani maintained a Buy rating on Pieris Pharmaceuticals (NASDAQ: PIRS) on May 11. The company’s shares opened today at $5.74.

According to TipRanks.com, Shibutani is a 4-star analyst with an average return of 13.9% and a 44.2% success rate. Shibutani covers the Healthcare sector, focusing on stocks such as Syndax Pharmaceuticals Inc, Five Prime Therapeutics, and Nektar Therapeutics.

Currently, the analyst consensus on Pieris Pharmaceuticals is Strong Buy and the average price target is $10.80, representing an 88.2% upside.

In a report issued on May 10, H.C. Wainwright also maintained a Buy rating on the stock with a $12 price target.

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Based on Pieris Pharmaceuticals’ latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $8.71 million. In comparison, last year the company had a GAAP net loss of $7.99 million.

Based on the recent corporate insider activity of 6 insiders, corporate insider sentiment is negative on the stock.

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Pieris Pharmaceuticals, Inc. operates as a clinical stage biopharmaceutical company that engages in the discovery and development of Anticalin class of biotherapeutics. It offers technology to create differentiated drugs that can help patients suffering from cancer, severe asthma, anemia, and other medical conditions with an unmet medical need.