Peregrine Pharmaceuticals (PPHM) Cut to Sell at ValuEngine
Peregrine Pharmaceuticals (NASDAQ:PPHM) was downgraded by ValuEngine from a “hold” rating to a “sell” rating in a note issued to investors on Friday.
Other research analysts have also issued reports about the company. Zacks Investment Research upgraded Peregrine Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, November 18th. Noble Financial assumed coverage on Peregrine Pharmaceuticals in a research report on Friday, September 29th. They issued a “buy” rating and a $10.00 price target on the stock.
Peregrine Pharmaceuticals (NASDAQ PPHM) traded up $0.13 during midday trading on Friday, hitting $5.20. The stock had a trading volume of 126,880 shares, compared to its average volume of 142,381. Peregrine Pharmaceuticals has a one year low of $1.96 and a one year high of $5.78.
Several large investors have recently bought and sold shares of the company. Bank of New York Mellon Corp boosted its position in shares of 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 during the last quarter. Ballentine Partners LLC bought a new position in Peregrine Pharmaceuticals during the second quarter worth about $113,000. Northern Trust Corp lifted its holdings in 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 acquiring an additional 38,604 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in 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 acquiring an additional 42,069 shares in the last quarter. Finally, OxFORD Asset Management LLP bought a new position in Peregrine Pharmaceuticals during the third quarter worth about $231,000. Institutional investors and hedge funds own 18.88% of the company’s stock.
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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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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