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Equities research analysts at JPMorgan Chase & Co. decreased their price target on shares of Peregrine Pharmaceuticals (NASDAQ:PPHM) from $12.00 to $9.50 in a research note issued to investors on Friday, Analyst Ratings News reports. JPMorgan Chase & Co.’s price target would suggest a potential upside of 458.82% from the company’s current price.

Peregrine Pharmaceuticals (NASDAQ:PPHM) opened at 1.70 on Friday. Peregrine Pharmaceuticals has a 52-week low of $1.11 and a 52-week high of $2.43. The stock’s 50-day moving average is $1.42 and its 200-day moving average is $1.39. The company’s market cap is $272.6 million.

Peregrine Pharmaceuticals (NASDAQ:PPHM) last released its earnings data on Tuesday, December 10th. The company reported ($0.05) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.05). The company had revenue of $7.35 million for the quarter, compared to the consensus estimate of $5.74 million. During the same quarter last year, the company posted ($0.08) earnings per share. Peregrine Pharmaceuticals’s revenue was up 21.3% compared to the same quarter last year. On average, analysts predict that Peregrine Pharmaceuticals will post $-0.24 earnings per share for the current fiscal year.

Peregrine Pharmaceuticals, Inc (NASDAQ:PPHM) is a clinical-stage biopharmaceutical company that develops monoclonal antibodies for the treatment of cancer and viral infections.

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