Peregrine Pharmaceuticals Inc. (NASDAQ:PPHM) has earned a consensus recommendation of “Hold” from the six research firms that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating on the company. The average 1-year target price among brokers that have covered the stock in the last year is $5.25.

Several brokerages recently issued reports on PPHM. Zacks Investment Research lowered Peregrine Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Friday. BidaskClub upgraded Peregrine Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Monday, July 17th. ValuEngine upgraded Peregrine Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Tuesday, June 20th. Finally, Noble Financial reiterated a “buy” rating on shares of Peregrine Pharmaceuticals in a research report on Thursday, April 6th.

Several institutional investors have recently modified their holdings of PPHM. Eqis Capital Management Inc. raised its position in shares of Peregrine Pharmaceuticals by 1.0% in the second quarter. Eqis Capital Management Inc. now owns 1,052,770 shares of the biopharmaceutical company’s stock valued at $642,000 after buying an additional 10,398 shares in the last quarter. Brown Advisory Securities LLC acquired a new position in shares of Peregrine Pharmaceuticals during the first quarter valued at about $379,000. KCG Holdings Inc. raised its position 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. Renaissance Technologies LLC raised its position in shares of Peregrine Pharmaceuticals by 24.4% in the first quarter. Renaissance Technologies LLC now owns 3,077,652 shares of the biopharmaceutical company’s stock valued at $2,013,000 after buying an additional 603,806 shares in the last quarter. Finally, Kennedy Capital Management Inc. raised its position in shares of Peregrine Pharmaceuticals by 15.2% in the first quarter. Kennedy Capital Management Inc. now owns 8,730,392 shares of the biopharmaceutical company’s stock valued at $5,710,000 after buying an additional 1,154,639 shares in the last quarter. Institutional investors and hedge funds own 13.49% of the company’s stock.

Shares of Peregrine Pharmaceuticals (PPHM) traded down 11.88% on Monday, hitting $4.60. 482,410 shares of the company’s stock traded hands. The company’s market cap is $207.32 million. The firm’s 50-day moving average price is $4.33 and its 200 day moving average price is $3.83. Peregrine Pharmaceuticals has a 1-year low of $1.96 and a 1-year high of $5.78.

Peregrine Pharmaceuticals (NASDAQ:PPHM) last issued its quarterly earnings data on Friday, July 14th. The biopharmaceutical company reported ($0.16) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by $0.09. Peregrine Pharmaceuticals had a negative net margin of 48.86% and a negative return on equity of 63.75%. The business had revenue of $17.90 million during the quarter, compared to analyst estimates of $22.57 million. During the same quarter in the prior year, the firm posted ($0.05) earnings per share. Peregrine Pharmaceuticals’s revenue for the quarter was down 4.8% compared to the same quarter last year. On average, equities research analysts expect that Peregrine Pharmaceuticals will post ($0.35) 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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