Peregrine Pharmaceuticals (PPHM) has been under a strong bear grip, hence the stock is down -6.03% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 0.78% in the past 1 week. The stock has risen by 1.21% in the past week indicating that the buyers are active at lower levels, but the stock is down -3.69% in the past 4 weeks.
Peregrine Pharmaceuticals (NASDAQ:PPHM): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $0.37 and $0.36 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $0.38. The buying momentum continued till the end and the stock did not give up its gains. It closed at $0.38, notching a gain of 1.46% for the day. The total traded volume was 738,816 . The stock had closed at $0.37 on the previous day.
The stock has recorded a 20-day Moving Average of 1.8% and the 50-Day Moving Average is 7.49%. Peregrine Pharmaceuticals, Inc. is up 13.82% in the last 3-month period. Year-to-Date the stock performance stands at -67.9%.
Peregrine Pharmaceuticals (PPHM) : The most positive equity analysts on Peregrine Pharmaceuticals (PPHM) expects the shares to touch $2, whereas, the least positive believes that the stock will trade at $1 in the short term. The company is covered by 3 Wall Street Brokerage Firms. The average price target for shares are $1 with an expected fluctuation of $0.5 from the mean.
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.