Pieris Pharmaceuticals, Inc. (PIRS) Earnings Preview: What To Focus On

58 days have passed by since the last earnings report for Pieris Pharmaceuticals, Inc. (NASDAQ:PIRS) and the new quarterly results look set to arrive in 31 days. The shares of PIRS at the moment are trading at a volume of 0.78 million, which compares with its normal daily standard volume of 731.7 million shares. This has led to the shares of the company advancing by 1.66%, currently exchanging hands at $3.07 a share. PIRS stock has been up by $2.97 (-49.17%) ever since it reached its 52-week high of $6.04 back in July 29, 2019. It has progressed below its 50-day moving average of $4.6897 and is down -14.96% over the past week. The stock has retreated -40.4% since the last one arrived so the question here is that will the downbeat trend in that time frame continue leading up to its next earnings release, or is the PIRS share price due for a breakout?

Pieris Pharmaceuticals, Inc. (PIRS) Forecasts And Latest Quarter Earnings

Ahead of their fiscal third-quarter to be released on Wednesday, Nov 06, 2019, 5 analysts who are covering the company are estimating that it will record a profit of -$0.23 per share, with analysts having different outlooks from -$0.26 to -$0.21. The current agreed outlook, when compared to the profit recorded last year, is at -$0.11 a share, thus an increase of 109.09% is expected. The profit view for a complete financial year for Pieris Pharmaceuticals, Inc. is expected to be around -$0.9 in current year, a decline of nearly 80% from last year which was -$0.5.

Let’s now look at their sales section, PIRS’s revenue is estimated to be $8.35M, a figure which is less than the $8.35M recorded for Q3 last year. Their sequential sales though are expected to move versus Q2’s $5.33B. Their full-year outlook is pegged at $27.68M, implying that there would be a drop of -4.88% over the $29.1M they recorded last year in revenue. Pieris Pharmaceuticals, Inc. is projected to get sales cut by -3.22% in the next quarter, with a revenue target of $26.79M.

Analyzing The Earnings History Of Pieris Pharmaceuticals, Inc. (NASDAQ:PIRS)

In the past few years, the PIRS stock has been known to miss the Wall Street’s earnings projection. The company missed 75% of the time, according to the data pulled on their earnings, was able to meet predictions on 0 occasions and topped expectations 3 times. Looking at the past trend, the price of Pieris Pharmaceuticals, Inc. shares had sank following the release of their earnings in 12 of the last 17 quarters.

Looking back, here is how Pieris Pharmaceuticals, Inc. (PIRS) stock reacted to earnings misses and beats. It gave investors reason to be bearish with the price going down after 3 of the last four earnings reports. The shares of Pieris Pharmaceuticals, Inc. recorded -4.08%, 3.76%, -3.59% and -13.47%, respectively, on the first day of past earnings releases. After a week of earnings reports, the changes were -2.91%, 19.44%, -7.19% and -27.4%. Their post-earnings price movements have resulted in an average decrease of -4.35% and an average decrease of -4.52% in Pieris Pharmaceuticals, Inc. on next day and 7th day, sequentially. PIRS’s one month stock performance led to its shares declining by -36.04% with a return of -42.62% witnessed over the last 52 weeks.

The higher number of analysts has assigned a buy or better ratings (5) on the Pieris Pharmaceuticals, Inc. stock, while 1 of them have a rating of a Hold with the 11-year target price suggested by the analysts standing at $7.33. This price target implies potential upside of 138.76 percent over the next 12 months based on the current share price.

Pieris Pharmaceuticals, Inc. (PIRS) Post Earnings Announcement Drift (PEAD)

Back on August 09, 2019, Pieris Pharmaceuticals, Inc. (NASDAQ:PIRS) released its Q2 results, in which it recorded a loss of -$0.24 that fell short of consensus estimates of -$0.2. After the earnings were reported, the price of PIRS stock kicked off the session at $4.75 and remained in a range of $5.05 to $5.05 on the first day. The shares were priced at $4.94 at the close with a total volume of shares being 755271.

On May 10, 2019, the Q1 earnings report was disclosed with loss per share of -$0.2. This was same as the estimation of -$0.2 per share. The stock price range of PIRS was between $3.16 and $3.55 on the first-day post announcement, after opening the day at $3.15. The session came to close at $3.31 and there was a total volume of 799772 shares.

March 18, 2019 was the day when its Q4 results were unveiled. The loss came in at -$0.21, missing the projected -$0.15 per share. The very next day, PIRS stock opened at $3.18 while staying in a range of $3.34 to $3.35. At the end, it moved to $3.22 a total volume of shares been 252201.

In the year-ago Q3 earnings on November 07, 2018, the company saw a loss per share of -$0.11. That was better than the -$0.12 analysts had expected. Pieris Pharmaceuticals, Inc. share price started at $3.24 on the first full trading day post-earning and then exchanged hands between $4.15 and $4.15 throughout the session. The closing price of $3.79 came on the back of 2136928 shares in volume.