Peregrine Pharmaceuticals’ (PPHM) “Buy” Rating Reaffirmed at Noble Financial

Peregrine Pharmaceuticals (NASDAQ:PPHM)‘s stock had its “buy” rating reissued by investment analysts at Noble Financial in a research note issued to investors on Friday.

Several other research firms have also issued reports on PPHM. 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.

Peregrine Pharmaceuticals (NASDAQ PPHM) traded up $0.03 during trading on Friday, reaching $4.22. 93,094 shares of the company traded hands, compared to its average volume of 242,010. The stock has a market cap of $189.44, a price-to-earnings ratio of -5.21 and a beta of 2.74. Peregrine Pharmaceuticals has a one year low of $1.97 and a one year high of $5.78.

A number of institutional investors have recently added to or reduced their stakes in the stock. Kennedy Capital Management Inc. increased its holdings in Peregrine Pharmaceuticals by 11.8% in the 2nd quarter. Kennedy Capital Management Inc. now owns 9,758,459 shares of the biopharmaceutical company’s stock worth $5,933,000 after acquiring an additional 1,028,067 shares in the last quarter. Vanguard Group Inc. increased 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 acquiring an additional 1,027,515 shares in the last quarter. Bandera Partners LLC purchased a new stake in Peregrine Pharmaceuticals in the 2nd quarter worth approximately $864,000. Northern Trust Corp increased its holdings in Peregrine Pharmaceuticals by 9.3% in the 2nd 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. Finally, Wells Fargo & Company MN increased its holdings in Peregrine Pharmaceuticals by 48.0% in the 2nd quarter. Wells Fargo & Company MN now owns 338,378 shares of the biopharmaceutical company’s stock worth $206,000 after acquiring an additional 109,750 shares in the last quarter. 18.69% of the stock is owned by institutional investors.

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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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