Geode Capital Management LLC lifted its stake in Peregrine Pharmaceuticals Inc. (NASDAQ:PPHM) by 31.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,437,491 shares of the biopharmaceutical company’s stock after buying an additional 344,811 shares during the quarter. Geode Capital Management LLC owned approximately 0.48% of Peregrine Pharmaceuticals worth $940,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of the business. Bank of New York Mellon Corp boosted its position in Peregrine Pharmaceuticals by 1.9% during the first quarter. Bank of New York Mellon Corp now owns 198,296 shares of the biopharmaceutical company’s stock worth $129,000 after purchasing an additional 3,732 shares in the last quarter. Wells Fargo & Company MN increased its holdings in shares of Peregrine Pharmaceuticals by 495.7% in the first quarter. Wells Fargo & Company MN now owns 228,628 shares of the biopharmaceutical company’s stock valued at $149,000 after purchasing an additional 190,250 shares during the last quarter. Russell Investments Group Ltd. acquired a new stake in Peregrine Pharmaceuticals during the first quarter worth $210,000. Finally, Acadian Asset Management LLC acquired a new stake in Peregrine Pharmaceuticals during the first quarter worth $473,000.
Several research firms have issued reports on PPHM. BidaskClub raised Peregrine Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Monday, July 17th. Zacks Investment Research cut Peregrine Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Friday, July 21st. Noble Financial reiterated a “buy” rating on shares of Peregrine Pharmaceuticals in a report on Monday, July 31st. Finally, ValuEngine lowered Peregrine Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Friday, September 1st.
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Peregrine Pharmaceuticals Inc. (NASDAQ PPHM) traded up 2.28% during mid-day trading on Friday, hitting $3.14. The stock had a trading volume of 146,391 shares. Peregrine Pharmaceuticals Inc. has a one year low of $1.97 and a one year high of $5.78. The stock’s market cap is $140.59 million. The company has a 50 day moving average price of $3.45 and a 200 day moving average price of $4.14.
Peregrine Pharmaceuticals (NASDAQ:PPHM) last issued its earnings results on Monday, September 11th. The biopharmaceutical company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.06. Peregrine Pharmaceuticals had a negative net margin of 23.15% and a negative return on equity of 38.19%. The business had revenue of $27.08 million for the quarter, compared to analyst estimates of $15.22 million. On average, equities analysts anticipate that Peregrine Pharmaceuticals Inc. will post ($0.40) EPS for the current year.
Peregrine Pharmaceuticals 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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