Peregrine Pharmaceuticals (PPHM) Rating Lowered to Sell at Zacks Investment Research
Peregrine Pharmaceuticals (NASDAQ:PPHM) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.
According to Zacks, “Peregrine Pharmaceuticals, Inc. is a biopharmaceutical company with a portfolio of innovative product candidates in clinical trials for the treatment of cancer and hepatitis C virus infection. The company is pursuing three separate clinical trials in cancer and HCV infection with its lead product candidate bavituximab and Cotara. Peregrine also has in-house manufacturing capabilities through its wholly owned subsidiary Avid Bioservices, Inc., which provides development and bio-manufacturing services for both Peregrine and outside customers. “
Other equities analysts have also issued research reports about the stock. Noble Financial restated a “buy” rating on shares of Peregrine Pharmaceuticals in a report on Tuesday. ValuEngine lowered shares of Peregrine Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Friday, September 1st.
Several large investors have recently bought and sold shares of PPHM. Bandera Partners LLC acquired a new position in shares of Peregrine Pharmaceuticals during the 2nd quarter valued at $864,000. Kennedy Capital Management Inc. lifted its holdings in shares of Peregrine Pharmaceuticals by 11.8% during the 2nd quarter. Kennedy Capital Management Inc. now owns 9,758,459 shares of the biopharmaceutical company’s stock valued at $5,933,000 after acquiring an additional 1,028,067 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Peregrine Pharmaceuticals by 16.6% in the 2nd quarter. Vanguard Group Inc. now owns 7,208,139 shares of the biopharmaceutical company’s stock worth $4,382,000 after buying an additional 1,027,515 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in Peregrine Pharmaceuticals by 24.4% in the 1st quarter. Renaissance Technologies LLC now owns 3,077,652 shares of the biopharmaceutical company’s stock worth $2,013,000 after buying an additional 603,806 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Peregrine Pharmaceuticals by 31.6% in the 1st quarter. Geode Capital Management LLC now owns 1,437,491 shares of the biopharmaceutical company’s stock worth $940,000 after buying an additional 344,811 shares in the last quarter. Institutional investors and hedge funds own 18.88% of the company’s stock.
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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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