Noble Financial began coverage on shares of Peregrine Pharmaceuticals Inc. (NASDAQ:PPHM) in a research note published on Friday. The firm issued a buy rating and a $10.00 price target on the biopharmaceutical company’s stock.

A number of other research analysts have also recently weighed in on the stock. Zacks Investment Research cut shares of Peregrine Pharmaceuticals from a hold rating to a sell rating in a research note on Friday, July 21st. ValuEngine upgraded shares of Peregrine Pharmaceuticals from a sell rating to a hold rating in a research note on Tuesday, June 20th. Finally, BidaskClub upgraded shares of Peregrine Pharmaceuticals from a hold rating to a buy rating in a research note on Monday, July 17th.

Shares of Peregrine Pharmaceuticals (NASDAQ PPHM) traded up 0.96% during midday trading on Friday, hitting $3.14. The company had a trading volume of 132,090 shares. The stock has a 50 day moving average price of $3.36 and a 200 day moving average price of $4.10. Peregrine Pharmaceuticals has a 1-year low of $1.97 and a 1-year high of $5.78. The firm’s market capitalization is $141.60 million.

Peregrine Pharmaceuticals (NASDAQ:PPHM) last released its earnings results on Monday, September 11th. The biopharmaceutical company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.06. Peregrine Pharmaceuticals had a negative net margin of 23.15% and a negative return on equity of 38.19%. The company had revenue of $27.08 million for the quarter, compared to analysts’ expectations of $15.22 million. On average, equities analysts anticipate that Peregrine Pharmaceuticals will post ($0.40) EPS for the current fiscal year.

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Hedge funds have recently made changes to their positions in the business. Ballentine Partners LLC purchased a new stake in Peregrine Pharmaceuticals in the 2nd quarter worth $113,000. Bank of New York Mellon Corp lifted its stake in Peregrine Pharmaceuticals by 1.9% in the 1st quarter. Bank of New York Mellon Corp now owns 198,296 shares of the biopharmaceutical company’s stock worth $129,000 after purchasing an additional 3,732 shares in the last quarter. Wells Fargo & Company MN lifted its stake in Peregrine Pharmaceuticals by 495.7% in the 1st quarter. Wells Fargo & Company MN now owns 228,628 shares of the biopharmaceutical company’s stock worth $149,000 after purchasing an additional 190,250 shares in the last quarter. KCG Holdings Inc. lifted its stake in Peregrine Pharmaceuticals by 941.5% in the 1st quarter. KCG Holdings Inc. now owns 238,906 shares of the biopharmaceutical company’s stock worth $156,000 after purchasing an additional 215,967 shares in the last quarter. Finally, Russell Investments Group Ltd. purchased a new stake in Peregrine Pharmaceuticals in the 1st quarter worth $210,000.

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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