Peregrine Pharmaceuticals (PPHM) Rating Reiterated by Noble Financial

Noble Financial reaffirmed their buy rating on shares of Peregrine Pharmaceuticals (NASDAQ:PPHM) in a research note issued to investors on Friday morning.

Several other research analysts also recently weighed in on PPHM. Zacks Investment Research raised Peregrine Pharmaceuticals from a sell rating to a hold rating in a research note on Wednesday, September 13th. ValuEngine downgraded Peregrine Pharmaceuticals from a hold rating to a sell rating in a research note on Friday, December 1st.

Shares of Peregrine Pharmaceuticals (PPHM) traded up $0.03 during mid-day trading on Friday, hitting $4.22. The stock had a trading volume of 93,000 shares, compared to its average volume of 109,025. The firm has a market cap of $190.35, a P/E ratio of -6.03 and a beta of 2.73. Peregrine Pharmaceuticals has a twelve month low of $1.96 and a twelve month high of $5.78.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Algert Global LLC purchased a new stake in shares of Peregrine Pharmaceuticals during the third quarter worth approximately $378,000. Stifel Financial Corp increased its position in shares of Peregrine Pharmaceuticals by 723.8% during the third quarter. Stifel Financial Corp now owns 204,305 shares of the biopharmaceutical company’s stock worth $640,000 after purchasing an additional 179,505 shares in the last quarter. OxFORD Asset Management LLP purchased a new stake in shares of Peregrine Pharmaceuticals during the third quarter worth approximately $231,000. JPMorgan Chase & Co. increased its position in shares of Peregrine Pharmaceuticals by 140.2% during the third quarter. JPMorgan Chase & Co. now owns 72,069 shares of the biopharmaceutical company’s stock worth $224,000 after purchasing an additional 42,069 shares in the last quarter. Finally, Bandera Partners LLC purchased a new stake in shares of Peregrine Pharmaceuticals during the second quarter worth approximately $864,000. Hedge funds and other institutional investors own 18.69% of the company’s stock.

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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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