Noble Financial Reiterates Buy Rating for Peregrine Pharmaceuticals (PPHM)
Peregrine Pharmaceuticals (NASDAQ:PPHM)‘s stock had its “buy” rating restated by equities researchers at Noble Financial in a research note issued to investors on Tuesday.
A number of other equities research analysts have also weighed in on the stock. ValuEngine lowered shares of Peregrine Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Friday, December 1st. Zacks Investment Research raised shares of Peregrine Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, November 18th.
Shares of Peregrine Pharmaceuticals (NASDAQ PPHM) traded down $0.06 on Tuesday, hitting $4.29. 283,941 shares of the stock were exchanged, compared to its average volume of 310,888. Peregrine Pharmaceuticals has a 12-month low of $1.96 and a 12-month high of $5.78.
Large investors have recently bought and sold shares of the business. Ballentine Partners LLC purchased a new stake in Peregrine Pharmaceuticals in the second quarter valued at $113,000. JPMorgan Chase & Co. boosted its holdings in Peregrine Pharmaceuticals by 140.2% in the third quarter. JPMorgan Chase & Co. now owns 72,069 shares of the biopharmaceutical company’s stock valued at $224,000 after purchasing an additional 42,069 shares during the last quarter. OxFORD Asset Management LLP purchased a new stake in Peregrine Pharmaceuticals in the third quarter valued at $231,000. Algert Global LLC purchased a new stake in Peregrine Pharmaceuticals in the third quarter valued at $378,000. Finally, Stifel Financial Corp boosted its holdings in Peregrine Pharmaceuticals by 723.8% in the third quarter. Stifel Financial Corp now owns 204,305 shares of the biopharmaceutical company’s stock valued at $640,000 after purchasing an additional 179,505 shares during the last quarter. 18.88% 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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