Shares of Peregrine Pharmaceuticals Inc. (NASDAQ:PPHM) have been given a consensus rating of “Hold” by the six research firms that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $5.25.
PPHM has been the subject of a number of research analyst reports. Zacks Investment Research lowered Peregrine Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, May 3rd. Noble Financial reiterated a “buy” rating on shares of Peregrine Pharmaceuticals in a report on Monday, July 31st. ValuEngine upgraded Peregrine Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Tuesday, June 20th. Finally, BidaskClub upgraded Peregrine Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Monday, July 17th.
Hedge funds have recently made changes to their positions in the company. Ballentine Partners LLC purchased a new stake in shares of Peregrine Pharmaceuticals during the second quarter valued at about $113,000. Bank of New York Mellon Corp raised its stake in shares of Peregrine Pharmaceuticals by 1.9% in the first quarter. Bank of New York Mellon Corp now owns 198,296 shares of the biopharmaceutical company’s stock valued at $129,000 after buying an additional 3,732 shares in the last quarter. Wells Fargo & Company MN raised its stake in shares of Peregrine Pharmaceuticals by 495.7% in the first quarter. Wells Fargo & Company MN now owns 228,628 shares of the biopharmaceutical company’s stock valued at $149,000 after buying an additional 190,250 shares in the last quarter. KCG Holdings Inc. raised its stake in shares of Peregrine Pharmaceuticals by 941.5% in the first quarter. KCG Holdings Inc. now owns 238,906 shares of the biopharmaceutical company’s stock valued at $156,000 after buying an additional 215,967 shares in the last quarter. Finally, Russell Investments Group Ltd. purchased a new stake in shares of Peregrine Pharmaceuticals during the first quarter valued at about $210,000. Institutional investors and hedge funds own 86.80% of the company’s stock.
Peregrine Pharmaceuticals (PPHM) opened at 3.63 on Friday. Peregrine Pharmaceuticals has a 1-year low of $1.96 and a 1-year high of $5.78. The company has a 50-day moving average price of $4.40 and a 200 day moving average price of $4.03. The firm’s market capitalization is $163.60 million.
Peregrine Pharmaceuticals (NASDAQ:PPHM) last released its earnings results on Friday, July 14th. The biopharmaceutical company reported ($0.16) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.07) by $0.09. The business had revenue of $17.90 million during the quarter, compared to analysts’ expectations of $22.57 million. Peregrine Pharmaceuticals had a negative net margin of 48.86% and a negative return on equity of 63.75%. Peregrine Pharmaceuticals’s revenue for the quarter was down 4.8% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.05) EPS. Equities analysts anticipate that Peregrine Pharmaceuticals will post ($0.40) earnings per share for the current year.
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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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