Intrinsic value of Pieris Pharmaceuticals - PIRS

Previous Close

$5.13

  Intrinsic Value

$0.15

stock screener

  Rating & Target

str. sell

-97%

  Value-price divergence*

-304%

Previous close

$5.13

 
Intrinsic value

$0.15

 
Up/down potential

-97%

 
Rating

str. sell

 
Value-price divergence*

-304%

*Intrinsic value change (in %) minus stock price change (in %) in the past 12 months.

We calculate the intrinsic value of PIRS stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2016), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 0.2

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  100.00
  60.00
  54.50
  49.55
  45.10
  41.09
  37.48
  34.23
  31.31
  28.68
  26.31
  24.18
  22.26
  20.53
  18.98
  17.58
  16.32
  15.19
  14.17
  13.26
  12.43
  11.69
  11.02
  10.42
  9.87
  9.39
  8.95
  8.55
  8.20
  7.88
  7.59
Revenue, $m
  6
  10
  15
  22
  32
  45
  62
  84
  110
  142
  179
  222
  271
  327
  389
  458
  533
  613
  700
  793
  892
  996
  1,106
  1,221
  1,341
  1,467
  1,599
  1,735
  1,878
  2,026
  2,179
Variable operating expenses, $m
 
  38
  59
  89
  129
  182
  250
  335
  440
  566
  715
  888
  1,086
  1,309
  1,557
  1,831
  2,130
  2,454
  2,801
  3,173
  3,567
  3,984
  4,423
  4,884
  5,366
  5,870
  6,395
  6,942
  7,511
  8,103
  8,718
Fixed operating expenses, $m
 
  5
  5
  5
  6
  6
  6
  6
  6
  6
  6
  7
  7
  7
  7
  7
  7
  8
  8
  8
  8
  8
  9
  9
  9
  9
  10
  10
  10
  10
  10
Total operating expenses, $m
  29
  43
  64
  94
  135
  188
  256
  341
  446
  572
  721
  895
  1,093
  1,316
  1,564
  1,838
  2,137
  2,462
  2,809
  3,181
  3,575
  3,992
  4,432
  4,893
  5,375
  5,879
  6,405
  6,952
  7,521
  8,113
  8,728
Operating income, $m
  -23
  -34
  -50
  -72
  -102
  -142
  -193
  -257
  -336
  -431
  -543
  -673
  -821
  -989
  -1,175
  -1,381
  -1,605
  -1,848
  -2,109
  -2,388
  -2,683
  -2,996
  -3,326
  -3,672
  -4,033
  -4,411
  -4,806
  -5,216
  -5,643
  -6,087
  -6,549
EBITDA, $m
  -23
  -34
  -49
  -71
  -101
  -140
  -190
  -254
  -332
  -425
  -535
  -663
  -810
  -975
  -1,159
  -1,362
  -1,583
  -1,822
  -2,080
  -2,354
  -2,646
  -2,955
  -3,280
  -3,621
  -3,977
  -4,350
  -4,739
  -5,144
  -5,565
  -6,003
  -6,458
Interest expense (income), $m
  0
  0
  0
  0
  0
  1
  1
  2
  2
  3
  4
  5
  7
  8
  10
  12
  14
  16
  19
  22
  25
  28
  31
  34
  38
  42
  46
  50
  54
  59
  63
Earnings before tax, $m
  -23
  -34
  -50
  -72
  -102
  -143
  -194
  -259
  -338
  -434
  -547
  -678
  -828
  -997
  -1,185
  -1,393
  -1,619
  -1,864
  -2,128
  -2,409
  -2,708
  -3,024
  -3,357
  -3,706
  -4,072
  -4,453
  -4,851
  -5,266
  -5,697
  -6,146
  -6,612
Tax expense, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Net income, $m
  -23
  -34
  -50
  -72
  -102
  -143
  -194
  -259
  -338
  -434
  -547
  -678
  -828
  -997
  -1,185
  -1,393
  -1,619
  -1,864
  -2,128
  -2,409
  -2,708
  -3,024
  -3,357
  -3,706
  -4,072
  -4,453
  -4,851
  -5,266
  -5,697
  -6,146
  -6,612

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  29
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  35
  10
  15
  22
  32
  45
  62
  84
  110
  142
  179
  222
  271
  327
  389
  458
  533
  613
  700
  793
  892
  996
  1,106
  1,221
  1,341
  1,467
  1,599
  1,735
  1,878
  2,026
  2,179
Adjusted assets (=assets-cash), $m
  6
  10
  15
  22
  32
  45
  62
  84
  110
  142
  179
  222
  271
  327
  389
  458
  533
  613
  700
  793
  892
  996
  1,106
  1,221
  1,341
  1,467
  1,599
  1,735
  1,878
  2,026
  2,179
Revenue / Adjusted assets
  1.000
  1.000
  1.000
  1.000
  1.000
  1.000
  1.000
  1.000
  1.000
  1.000
  1.000
  1.000
  1.000
  1.000
  1.000
  1.000
  1.000
  1.000
  1.000
  1.000
  1.000
  1.000
  1.000
  1.000
  1.000
  1.000
  1.000
  1.000
  1.000
  1.000
  1.000
Average production assets, $m
  3
  4
  6
  9
  13
  19
  26
  35
  46
  59
  75
  93
  113
  136
  162
  191
  222
  256
  292
  331
  372
  415
  461
  509
  559
  612
  667
  724
  783
  845
  909
Working capital, $m
  25
  -6
  -10
  -15
  -21
  -30
  -42
  -56
  -73
  -94
  -119
  -148
  -181
  -218
  -260
  -305
  -355
  -409
  -467
  -529
  -595
  -664
  -738
  -814
  -895
  -979
  -1,066
  -1,158
  -1,252
  -1,351
  -1,454
Total debt, $m
  0
  -1
  3
  10
  19
  31
  46
  65
  89
  117
  151
  190
  234
  285
  340
  402
  469
  542
  620
  704
  793
  886
  985
  1,089
  1,197
  1,311
  1,429
  1,552
  1,680
  1,813
  1,951
Total liabilities, $m
  10
  9
  13
  20
  29
  41
  56
  75
  99
  127
  161
  200
  244
  295
  350
  412
  479
  552
  630
  714
  803
  896
  995
  1,099
  1,207
  1,321
  1,439
  1,562
  1,690
  1,823
  1,961
Total equity, $m
  25
  1
  1
  2
  3
  5
  6
  8
  11
  14
  18
  22
  27
  33
  39
  46
  53
  61
  70
  79
  89
  100
  111
  122
  134
  147
  160
  174
  188
  203
  218
Total liabilities and equity, $m
  35
  10
  14
  22
  32
  46
  62
  83
  110
  141
  179
  222
  271
  328
  389
  458
  532
  613
  700
  793
  892
  996
  1,106
  1,221
  1,341
  1,468
  1,599
  1,736
  1,878
  2,026
  2,179
Debt-to-equity ratio
  0.000
  -1.420
  2.260
  4.490
  5.890
  6.800
  7.400
  7.810
  8.090
  8.290
  8.440
  8.550
  8.630
  8.690
  8.740
  8.780
  8.810
  8.840
  8.860
  8.870
  8.890
  8.900
  8.910
  8.920
  8.930
  8.930
  8.940
  8.940
  8.950
  8.950
  8.950
Adjusted equity ratio
  -0.667
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -23
  -34
  -50
  -72
  -102
  -143
  -194
  -259
  -338
  -434
  -547
  -678
  -828
  -997
  -1,185
  -1,393
  -1,619
  -1,864
  -2,128
  -2,409
  -2,708
  -3,024
  -3,357
  -3,706
  -4,072
  -4,453
  -4,851
  -5,266
  -5,697
  -6,146
  -6,612
Depreciation, amort., depletion, $m
  0
  0
  1
  1
  1
  2
  3
  3
  5
  6
  7
  9
  11
  14
  16
  19
  22
  26
  29
  33
  37
  42
  46
  51
  56
  61
  67
  72
  78
  84
  91
Funds from operations, $m
  -8
  -34
  -49
  -71
  -101
  -141
  -192
  -255
  -334
  -428
  -540
  -669
  -816
  -983
  -1,169
  -1,373
  -1,597
  -1,839
  -2,099
  -2,376
  -2,671
  -2,983
  -3,311
  -3,655
  -4,016
  -4,392
  -4,785
  -5,194
  -5,619
  -6,062
  -6,521
Change in working capital, $m
  6
  -2
  -3
  -5
  -7
  -9
  -11
  -14
  -17
  -21
  -25
  -29
  -33
  -37
  -41
  -46
  -50
  -54
  -58
  -62
  -66
  -70
  -73
  -77
  -80
  -84
  -88
  -91
  -95
  -99
  -103
Cash from operations, $m
  -14
  -31
  -46
  -66
  -94
  -132
  -180
  -241
  -316
  -407
  -515
  -640
  -784
  -946
  -1,127
  -1,328
  -1,547
  -1,785
  -2,041
  -2,314
  -2,605
  -2,913
  -3,238
  -3,578
  -3,935
  -4,308
  -4,697
  -5,102
  -5,524
  -5,963
  -6,419
Maintenance CAPEX, $m
  0
  0
  0
  -1
  -1
  -1
  -2
  -3
  -3
  -5
  -6
  -7
  -9
  -11
  -14
  -16
  -19
  -22
  -26
  -29
  -33
  -37
  -42
  -46
  -51
  -56
  -61
  -67
  -72
  -78
  -84
New CAPEX, $m
  -1
  -2
  -2
  -3
  -4
  -6
  -7
  -9
  -11
  -13
  -16
  -18
  -21
  -23
  -26
  -29
  -31
  -34
  -36
  -39
  -41
  -43
  -46
  -48
  -50
  -53
  -55
  -57
  -59
  -62
  -64
Cash from investing activities, $m
  -1
  -2
  -2
  -4
  -5
  -7
  -9
  -12
  -14
  -18
  -22
  -25
  -30
  -34
  -40
  -45
  -50
  -56
  -62
  -68
  -74
  -80
  -88
  -94
  -101
  -109
  -116
  -124
  -131
  -140
  -148
Free cash flow, $m
  -15
  -33
  -48
  -70
  -100
  -139
  -189
  -253
  -331
  -425
  -536
  -665
  -813
  -981
  -1,167
  -1,373
  -1,597
  -1,841
  -2,102
  -2,382
  -2,679
  -2,994
  -3,325
  -3,672
  -4,036
  -4,417
  -4,813
  -5,226
  -5,656
  -6,103
  -6,567
Issuance/(repayment) of debt, $m
  0
  -1
  5
  7
  9
  12
  15
  19
  24
  28
  34
  39
  44
  50
  56
  62
  67
  73
  78
  84
  89
  94
  99
  104
  109
  113
  118
  123
  128
  133
  138
Issuance/(repurchase) of shares, $m
  15
  39
  50
  73
  103
  144
  196
  261
  341
  437
  551
  682
  833
  1,002
  1,191
  1,399
  1,627
  1,872
  2,137
  2,419
  2,718
  3,035
  3,368
  3,718
  4,084
  4,466
  4,865
  5,280
  5,712
  6,161
  6,628
Cash from financing (excl. dividends), $m  
  15
  38
  55
  80
  112
  156
  211
  280
  365
  465
  585
  721
  877
  1,052
  1,247
  1,461
  1,694
  1,945
  2,215
  2,503
  2,807
  3,129
  3,467
  3,822
  4,193
  4,579
  4,983
  5,403
  5,840
  6,294
  6,766
Total cash flow (excl. dividends), $m
  0
  5
  7
  9
  13
  17
  22
  28
  34
  41
  48
  56
  64
  72
  80
  88
  97
  104
  112
  120
  127
  135
  142
  149
  156
  163
  170
  177
  184
  191
  199
Retained Cash Flow (-), $m
  6
  -39
  -50
  -73
  -103
  -144
  -196
  -261
  -341
  -437
  -551
  -682
  -833
  -1,002
  -1,191
  -1,399
  -1,627
  -1,872
  -2,137
  -2,419
  -2,718
  -3,035
  -3,368
  -3,718
  -4,084
  -4,466
  -4,865
  -5,280
  -5,712
  -6,161
  -6,628
Prev. year cash balance distribution, $m
 
  29
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  -5
  -43
  -63
  -90
  -127
  -174
  -233
  -307
  -396
  -503
  -626
  -769
  -930
  -1,111
  -1,311
  -1,530
  -1,768
  -2,024
  -2,299
  -2,591
  -2,900
  -3,226
  -3,569
  -3,928
  -4,303
  -4,695
  -5,103
  -5,528
  -5,970
  -6,429
Discount rate, %
 
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
 
  -5
  -40
  -55
  -75
  -98
  -126
  -158
  -192
  -228
  -263
  -298
  -328
  -354
  -373
  -385
  -389
  -385
  -373
  -354
  -329
  -300
  -268
  -234
  -200
  -167
  -137
  -110
  -86
  -65
  -48
Current shareholders' claim on cash, %
  100
  50.0
  7.2
  1.1
  0.2
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0

Pieris Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company. The Company's pipeline includes immuno-oncology multi-specifics tailored for the tumor micro-environment, an inhaled Anticalin to treat uncontrolled asthma and a half-life-optimized Anticalin to treat anemia. Its Anticalins proteins are a class of low molecular-weight therapeutic proteins derived from lipocalins, which are naturally occurring low-molecular weight human proteins typically found in blood plasma and other bodily fluids. It is focused on developing three drug candidates, which include PRS-080, PRS-060 and PRS-300 series. Its PRS-080 is an Anticalin drug candidate targeting hepcidin. The Company's second Anticalin drug candidate, PRS-060, binds to the IL-4 receptor alpha-chain (IL-4RA), thereby inhibiting the actions of IL-4 and IL-13, two cytokines known to be mediators in the inflammatory cascade that causes asthma and other inflammatory diseases. PRS-343 is an Anticalin-based drug candidate.

FINANCIAL RATIOS  of  Pieris Pharmaceuticals (PIRS)

Valuation Ratios
P/E Ratio -9.6
Price to Sales 36.8
Price to Book 8.8
Price to Tangible Book
Price to Cash Flow -15.8
Price to Free Cash Flow -14.7
Growth Rates
Sales Growth Rate 100%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 0%
Cap. Spend. - 3 Yr. Gr. Rate NaN%
Financial Strength
Quick Ratio NaN
Current Ratio 0
LT Debt to Equity 0%
Total Debt to Equity 0%
Interest Coverage 0
Management Effectiveness
Return On Assets -66.7%
Ret/ On Assets - 3 Yr. Avg. -61.9%
Return On Total Capital -82.1%
Ret/ On T. Cap. - 3 Yr. Avg. -72.7%
Return On Equity -82.1%
Return On Equity - 3 Yr. Avg. -81.5%
Asset Turnover 0.2
Profitability Ratios
Gross Margin 0%
Gross Margin - 3 Yr. Avg. 0%
EBITDA Margin -383.3%
EBITDA Margin - 3 Yr. Avg. -350%
Operating Margin -383.3%
Oper. Margin - 3 Yr. Avg. -336.7%
Pre-Tax Margin -383.3%
Pre-Tax Margin - 3 Yr. Avg. -350%
Net Profit Margin -383.3%
Net Profit Margin - 3 Yr. Avg. -350%
Effective Tax Rate 0%
Eff/ Tax Rate - 3 Yr. Avg. 0%
Payout Ratio 0%

PIRS stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the PIRS stock intrinsic value calculation we used $6 million for the last fiscal year's total revenue generated by Pieris Pharmaceuticals. The default revenue input number comes from 2016 income statement of Pieris Pharmaceuticals. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our PIRS stock valuation model: a) initial revenue growth rate of 60% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for PIRS is calculated based on our internal credit rating of Pieris Pharmaceuticals, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Pieris Pharmaceuticals.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of PIRS stock the variable cost ratio is equal to 400%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $5 million in the base year in the intrinsic value calculation for PIRS stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 3.5% for Pieris Pharmaceuticals.

Corporate tax rate of 27% is the nominal tax rate for Pieris Pharmaceuticals. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the PIRS stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for PIRS are equal to 41.7%.

Life of production assets of 10 years is the average useful life of capital assets used in Pieris Pharmaceuticals operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for PIRS is equal to -66.7%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $25 million for Pieris Pharmaceuticals - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 42.949 million for Pieris Pharmaceuticals is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Pieris Pharmaceuticals at the current share price and the inputted number of shares is $0.2 billion.

RELATED COMPANIES Price Int.Val. Rating
SNY Sanofi ADR 49.53 48.24  hold
FPRX Five Prime The 46.03 10.81  str.sell
REGN Regeneron Phar 439.37 259.95  sell
PFE Pfizer 35.83 28.30  hold

COMPANY NEWS

▶ Is It Time To Buy Pieris Pharmaceuticals Inc (PIRS)?   [Oct-13-17 08:57PM  Simply Wall St.]
▶ Is Pieris Pharmaceuticals Inc (PIRS) Undervalued?   [Sep-15-17 07:43AM  Simply Wall St.]
▶ Pieris Pharmaceuticals reports 2Q loss   [12:11AM  Associated Press]
▶ OpCo On Biotech: 'Our Bullishness Is Unabated'   [Jul-12-17 10:35AM  Barrons.com]
▶ Penny Stocks to Watch for July 2017   [Jun-30-17 04:09PM  Investopedia]
▶ These 3 Small Biotechs Have a Healthy Shot   [Jun-28-17 03:30PM  TheStreet.com]
▶ Pieris Pharmaceuticals reports 1Q loss   [May-10-17 07:20PM  Associated Press]
▶ Boston-based Pieris adds AstraZeneca as R&D partner in $45M deal   [May-03-17 10:05AM  American City Business Journals]
▶ Pieris Announces Management Transition   [05:21PM  Marketwired]
Financial statements of PIRS
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

FREE DOWNLOAD
Follow us on:   twitter   twitter   twitter   twitter

VALUATION THEORY       ASSET ALLOCATION

About X-FIN       Site news       Privacy policy       Terms of use       FAQ

Copyright © X-FIN.com 2005-2017. All rigths reserved.