Peregrine Pharmaceuticals’ (PPHM) Buy Rating Reaffirmed at Noble Financial
Several other research analysts have also recently weighed in on PPHM. Zacks Investment Research raised shares of Peregrine Pharmaceuticals from a sell rating to a hold rating in a report on Wednesday, September 13th. ValuEngine cut shares of Peregrine Pharmaceuticals from a hold rating to a sell rating in a report on Friday, December 1st.
Peregrine Pharmaceuticals (NASDAQ:PPHM) traded up $0.03 during trading on Friday, reaching $4.22. 93,094 shares of the company’s stock traded hands, compared to its average volume of 109,025. The company has a market cap of $190.80, a PE ratio of -5.21 and a beta of 2.74. Peregrine Pharmaceuticals has a 52-week low of $1.96 and a 52-week high of $5.78.
Institutional investors and hedge funds have recently made changes to their positions in the company. Wells Fargo & Company MN increased its holdings in shares of Peregrine Pharmaceuticals by 48.0% during the second quarter. Wells Fargo & Company MN now owns 338,378 shares of the biopharmaceutical company’s stock worth $206,000 after purchasing an additional 109,750 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Peregrine Pharmaceuticals by 140.2% during the third quarter. JPMorgan Chase & Co. now owns 72,069 shares of the biopharmaceutical company’s stock worth $224,000 after purchasing an additional 42,069 shares during the period. OxFORD Asset Management LLP bought a new position in shares of Peregrine Pharmaceuticals during the third quarter worth approximately $231,000. Northern Trust Corp increased its holdings in shares of Peregrine Pharmaceuticals by 9.3% during the second quarter. Northern Trust Corp now owns 454,451 shares of the biopharmaceutical company’s stock worth $276,000 after purchasing an additional 38,604 shares during the period. Finally, Algert Global LLC bought a new position in shares of Peregrine Pharmaceuticals during the third quarter worth approximately $378,000. 18.69% of the stock is currently owned by institutional investors.
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About Peregrine Pharmaceuticals
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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