Oppenheimer Reiterates Bullish View on Pieris Pharmaceuticals (PIRS) Following CRI Presentation
- AT&T (T) to Acquire Time Warner (TWX) for $107.50/Share
- Rockwell Collins (COL) in Advanced Talks to Acquire B/E Aerospace (BEAV) - WSJ
- Top 10 News for 10/17 - 10/21: Merger Rumors Abound; CEOs Depart; Tesla Kicks Autopilot Up A Notch
- Wall Street ends little changed; Microsoft hits record
- AT&T (T) in Advanced Talks to Acquire Time Warner (TWX) - DJ
Find out which companies are about to raise their dividend well before the news hits the Street with StreetInsider.com's Dividend Insider Elite. Sign-up for a FREE trial here.
Oppenheimer analyst Michelle Gilson reiterated an Outperform rating and $10 price target on Pieris Pharmaceuticals (NASDAQ: PIRS) after the company presented a poster on its wholly-owned bispecific anticalin/mAb fusion protein PRS-343 (HER2xCD137), demonstrating in vivo efficacy compared to HER2 and CD137 (4-1BB) monocloanal antibodies. Pieris anticipates to initiate Phase 1 PRS-343 (HER2xCD137) in 1H17.
Gilson commented, "The presentation at CRI highlighted (1) the flexibility of the anticalin bispecific platform, (2) tumor localized increase in human TIL in vivo, (3) selectivity in T cell activation, leading to decreased peripheral T cell activation vs. 4-1BB mAb, and decreased mortality. We believe Pieris's approach may be differentiated in its safety and efficacy, as the HER2 mAb (trastuzumab) enhances efficacy with its anti-HER2 ADCC mechanism, while targeting CD137 engagement to the tumor microenvironmet."
Shares of Pieris Pharmaceuticals closed at $1.68 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Axovant Sciences (AXON) Risk/Reward 'Massively Skewed to the Upside' - Baird
- Stifel Upgrades PayPal (PYPL) to Buy Following 'Solid' Q3 Results
- RBC Capital Raises Price Target on Danaher (DHR) Following 'Clean' 3Q Report
Create E-mail Alert Related CategoriesAnalyst Comments, FDA
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!