Oppenheimer Starts Pieris Pharmaceuticals (PIRS) at Outperform, $8 PT

Oppenheimer initiates coverage on Pieris Pharmaceuticals (NASDAQ: PIRS) with an Outperform rating and a price target of $8.00.

Analyst Christopher Marai commented, "We are initiating coverage on Pieris (PIRS) with an Outperform rating and $8 price target. PIRS is developing Anticalins, novel targeted biologic molecules based upon naturally-occurring lipocalins, that offer advantages as therapeutics compared to antibodies. Pieris is leveraging this technology with a first-in-class inhalable IL4Ra-targeting Anticalin (PRS-060) for the treatment of allergic asthma. Pieris is also developing a CD137(41BB)xHER2 bispecific Anticalin to target delivery the potent immune checkpoint molecule. Finally, Anticalins have been validated in human-trials targeting VEGF and hepcidin. PRS-080 is PIRS' most advanced asset in P1 trials for anemia with safety/activity data expected in 2H15."

For an analyst ratings summary and ratings history on Pieris Pharmaceuticals click here. For more ratings news on Pieris Pharmaceuticals click here.

Shares of Pieris Pharmaceuticals closed at $2.95 yesterday.

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