Peregrine Pharmaceuticals (NASDAQ:PPHM) Reports Quarter Earnings


Dallas, Texas 03/31/2014 (FINANCIALSTRENDS) – Peregrine Pharmaceuticals (NASDAQ:PPHM) has been receiving coverage by analysts in the past week. MLV & CO. have already posted the price target for PPHM at $3.50 from their previous of $2.50. They have also initiated a Buy on the stocks of this company.

Peregrine Pharmaceuticals (NASDAQ:PPHM) has also received coverage from JP Morgan chase & Co. the company has actually cut the price target of the shares in its coverage. It has moved the price target from it’s earlier $12.00 to $9.50, the research note claimed.

Peregrine Pharmaceuticals (NASDAQ:PPHM) has since announced its quarterly earnings, indicating $0.06 per share for the quarter, besides matching analyst estimate of $0.06. The total revenue reported was $3.90 million, whereas expectations by analysts stood at $5.09 million. In comparison, the company had as of last year posted earnings per share in the region of $0.04 for the same quarter . In conclusion, it was found that the company reported revenue fall of 44.7%, in comparison to previous quarter.

Peregrine Pharmaceuticals (NASDAQ:PPHM) holds a market capital of $328.25 million. The company’s trading volumes are in the range of $5.72 million and the EPS is -0.22. The outstanding share the company holds is 176.48 million and Beta is 1.40. The stock prices began at $1.94 per share, at the start of previous trading session and hold infra-day high of $2.00 and Low of $2.85. Besides, the 52-week high for the company is $3.18 and low is $1.11.

Peregrine Pharmaceuticals (NASDAQ:PPHM) is currently presenting data from animal studies and it holds that the potential is the PhosPhatidyleserine or PS targeting antibodies. These are expected to overcome the immune depression of individuals and at the same time seek to find anti-tumor activity.

Alternatively, it is also found that Peregrine’s product called as Bavituximab, is already engaged in Phase III trials and has second-line as well as non-small cell lung cancer cells.

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