Analyst Rating Update on Peregrine Pharmaceuticals (PPHM)

Peregrine Pharmaceuticals (NASDAQ:PPHM) : Zacks Investment Research ranks Peregrine Pharmaceuticals (NASDAQ:PPHM) as 3, which is a Hold recommendation. 2 research analysts consider that the stocks fundamentals point to a bright future, hence they rate the stock as a Strong Buy. A total of 1 analysts believe that the stock has a limited upside, hence they advise a Hold. The average broker rating of 3 research analysts is 1.67, which indicates as a Buy.

Peregrine Pharmaceuticals (NASDAQ:PPHM) has been rated by 3 research analysts. Fundamentally, the highest shorterm price forecast for the stock is expected to reach $2 and the lowest price target forecast is $1. The average forecast of all the analysts is $1 and the expected standard deviation is $0.5.

For the current week, the company shares have a recommendation consensus of Buy.

Peregrine Pharmaceuticals (NASDAQ:PPHM): stock turned positive on Tuesday. Though the stock opened at $0.3636, the bulls momentum made the stock top out at $0.3897 level for the day. The stock recorded a low of $0.3636 and closed the trading day at $0.3702, in the green by 2.83%. The total traded volume for the day was 672,630. The stock had closed at $0.36 in the previous days trading.

Peregrine Pharmaceuticals, Inc. is a biopharmaceutical company with a portfolio of monoclonal antibodies in clinical trials for the treatment and diagnosis of cancer. The Company has two platforms and is pursuing multiple clinical programs in cancer with its lead immunotherapy candidate bavituximab, its phosphatidylserine (PS) targeting agent, PGN65, and its brain cancer therapy Cotara. Bavituximab is the Companys therapeutic PS-targeting antibody. PGN650 is its PS-targeting imaging agent. The Company is evaluating the bavituximab investigator-sponsored trials (IST) in front-line, HER2-negative metastatic breast cancer, liver cancer, rectal adenocarcinoma and advanced melanoma. It is also evaluating PGN650 imaging in multiple solid tumor types. The Company`s Impavido biomanufacturing subsidiary Avid Bioservices, Inc., provides commercial and clinical manufacturing services for the Company and third-party clients.

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