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Deals damage. It has a 1/3 chance for the move to hit either 2 or 3 times, and a 1/6 chance to hit either 4 or 5 times. If a Focus Sash or the ability Sturdy is activated through one of the hits, another hit will KO the target. Each hit is treated as a separate attack, and thus abilities such as Weak Armor will activate for every hit taken, and every hit has a separate flinch rate if used with King's Rock, Razor Fang, or Stench, and a separate critical hit chance. Color Change will only activate on the last hit of the move. However, the items Life Orb and Metronome treat all the hits as a single attack. If this move breaks a Substitute, the attack can still continue and hurt the target. If the target holds a type-resistance Berry item, it will only affect the first hit of this move. If the user has the ability Skill Link, this move will always hit five times.
Pin Missile is a terribly weak move and as such should never be considered competitively. It is completely outclassed by moves such as Bug Bite, U-turn, X-Scissor, and Megahorn. The latter two of those moves deal more damage, even when Pin Missile hits five times--that demonstrates how weak and unreliable Pin Missile is.
X-Scissor is a more powerful option with perfect accuracy.
Megahorn is a more powerful option.
Arm Thrust is a Fighting-type equivalent.
Barrage is a Normal-type equivalent.
Bone Rush is a Ground-type equivalent.
Bullet Seed is a Grass-type equivalent.
Comet Punch is a Normal-type equivalent.
DoubleSlap is a Normal-type equivalent.
Fury Attack is a Normal-type equivalent.
Fury Swipes is a Normal-type equivalent.
Icicle Spear is an Ice-type equivalent.
Rock Blast is a Rock-type equivalent.
Spike Cannon is a Normal-type equivalent.
Tail Slap is a Normal-type equivalent.