Peregrine Pharmaceuticals (PPHM) to Release Earnings on Monday
Peregrine Pharmaceuticals (NASDAQ:PPHM) is set to release its earnings data before the market opens on Monday, December 11th. Analysts expect Peregrine Pharmaceuticals to post earnings of ($0.12) per share for the quarter.
Peregrine Pharmaceuticals (NASDAQ:PPHM) last posted its quarterly earnings data on Monday, September 11th. The biopharmaceutical company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.06. The company had revenue of $27.08 million for the quarter, compared to analyst estimates of $15.22 million. Peregrine Pharmaceuticals had a negative net margin of 23.15% and a negative return on equity of 38.19%.
Shares of Peregrine Pharmaceuticals (PPHM) opened at $5.26 on Friday. Peregrine Pharmaceuticals has a 12 month low of $1.96 and a 12 month high of $5.78.
An institutional investor recently raised its position in Peregrine Pharmaceuticals stock. Northern Trust Corp lifted its stake in shares of Peregrine Pharmaceuticals Inc. (NASDAQ:PPHM) by 9.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 454,451 shares of the biopharmaceutical company’s stock after buying an additional 38,604 shares during the quarter. Northern Trust Corp owned approximately 1.01% of Peregrine Pharmaceuticals worth $276,000 as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 18.88% of the company’s stock.
A number of research firms have recently issued reports on PPHM. ValuEngine lowered shares of Peregrine Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Friday, December 1st. Zacks Investment Research upgraded shares of Peregrine Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Wednesday, September 13th. Finally, Noble Financial assumed coverage on shares of Peregrine Pharmaceuticals in a research report on Friday, September 29th. They set a “buy” rating and a $10.00 price target for the company.
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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