Peregrine Pharmaceuticals Inc. (NASDAQ:PPHM)‘s stock had its “neutral” rating reaffirmed by analysts at Roth Capital in a research report issued on Tuesday. They currently have a $0.50 price target on the biopharmaceutical company’s stock. Roth Capital’s price objective points to a potential upside of 29.17% from the stock’s current price.
PPHM has been the topic of a number of other reports. FBR & Co reaffirmed an “outperform” rating and set a $1.00 target price on shares of Peregrine Pharmaceuticals in a research report on Friday, May 20th. Noble Financial reaffirmed a “buy” rating and set a $1.50 target price on shares of Peregrine Pharmaceuticals in a research report on Monday, July 18th. Finally, Zacks Investment Research lowered Peregrine Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Thursday, August 4th.
Peregrine Pharmaceuticals (NASDAQ:PPHM) traded down 1.7050% during mid-day trading on Tuesday, hitting $0.3805. The stock had a trading volume of 334,763 shares. Peregrine Pharmaceuticals has a 12-month low of $0.29 and a 12-month high of $1.33. The company has a 50-day moving average of $0.37 and a 200-day moving average of $0.39. The stock’s market cap is $91.87 million.
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Peregrine Pharmaceuticals (NASDAQ:PPHM) last announced its earnings results on Thursday, September 8th. The biopharmaceutical company reported ($0.05) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.04) by $0.01. Peregrine Pharmaceuticals had a negative return on equity of 96.28% and a negative net margin of 130.44%. The business had revenue of $5.61 million for the quarter. During the same quarter last year, the firm posted ($0.08) earnings per share. The business’s revenue was down 42.0% on a year-over-year basis. On average, analysts anticipate that Peregrine Pharmaceuticals will post ($0.15) earnings per share for the current fiscal year.
A number of hedge funds have recently made changes to their positions in PPHM. Paloma Partners Management Co purchased a new stake in shares of Peregrine Pharmaceuticals during the second quarter valued at $311,000. Laurion Capital Management LP bought a new position in Peregrine Pharmaceuticals during the second quarter valued at approximately $242,000. Eqis Capital Management Inc. raised its position in Peregrine Pharmaceuticals by 6.0% in the second quarter. Eqis Capital Management Inc. now owns 1,508,352 shares of the biopharmaceutical company’s stock valued at $543,000 after buying an additional 86,038 shares during the period. Jacobs Levy Equity Management Inc. raised its position in Peregrine Pharmaceuticals by 173.7% in the first quarter. Jacobs Levy Equity Management Inc. now owns 1,009,400 shares of the biopharmaceutical company’s stock valued at $424,000 after buying an additional 640,570 shares during the period. Finally, Geode Capital Management LLC raised its position in Peregrine Pharmaceuticals by 14.9% in the first quarter. Geode Capital Management LLC now owns 1,394,436 shares of the biopharmaceutical company’s stock valued at $586,000 after buying an additional 180,349 shares during the period. 13.81% of the stock is owned by hedge funds and other institutional investors.
Peregrine Pharmaceuticals Company Profile
Peregrine Pharmaceuticals, Inc (Peregrine) is a biopharmaceutical company. The Company operates through two segments: Peregrine, which is engaged in the research and development of monoclonal antibodies for the treatment of cancer, and Avid, which is engaged in providing contract manufacturing services for third party customers on a fee-for-service basis while also supporting its internal drug development efforts.
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