In a report released today, Joseph Pantginis from H.C. Wainwright reiterated a Buy rating on Pieris Pharmaceuticals (NASDAQ: PIRS), with a price target of $12. The company’s shares opened today at $5.05, close to its 52-week low of $4.42.
Pantginis wrote:
“Valuation and risks to price target achievement. We reiterate our Buy rating and $12 price target. Our price target is based on our clinical net present value (NPV) model, which derives value from only the three lead assets in Pieris’ pipeline, but primarily for PRS-080. This model allows us to flex multiple assumptions affecting a drug’s potential commercial profile. Factors which could impede reaching our price target include failed or inconclusive clinical trials or inability of the company to secure adequate funding to progress its drugs through the development pathway.”
According to TipRanks.com, Pantginis ‘ ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -13.0% and a 31.7% success rate. Pantginis covers the Healthcare sector, focusing on stocks such as SELLAS Life Sciences Group Inc, Applied Genetic Technologies, and Checkpoint Therapeutics Inc.
Currently, the analyst consensus on Pieris Pharmaceuticals is a Strong Buy with an average price target of $10.
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The company has a one-year high of $9.75 and a one-year low of $4.42. Currently, Pieris Pharmaceuticals has an average volume of 540.6K.
Based on the recent corporate insider activity of 7 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of PIRS in relation to earlier this year.
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Pieris Pharmaceuticals, Inc. operates as a clinical stage biopharmaceutical company, which 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.
