Peregrine Pharmaceuticals (NASDAQ:PPHM) saw a large increase in short interest during the month of May. As of May 15th, there was short interest totalling 1,346,214 shares, an increase of 21.9% from the April 28th total of 1,104,400 shares. Based on an average trading volume of 968,467 shares, the days-to-cover ratio is presently 1.4 days.

A number of analysts recently issued reports on PPHM shares. Zacks Investment Research raised shares of Peregrine Pharmaceuticals from a “hold” rating to a “buy” rating and set a $0.75 target price for the company in a research report on Friday, March 17th. Noble Financial reissued a “buy” rating on shares of Peregrine Pharmaceuticals in a research report on Thursday, April 6th.

Shares of Peregrine Pharmaceuticals (NASDAQ:PPHM) opened at 0.566 on Friday. The company’s 50-day moving average is $0.59 and its 200-day moving average is $0.47. Peregrine Pharmaceuticals has a 52-week low of $0.28 and a 52-week high of $0.77. The firm’s market cap is $168.50 million.

Peregrine Pharmaceuticals (NASDAQ:PPHM) last posted its quarterly earnings results on Monday, March 13th. The biopharmaceutical company reported ($0.04) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.03) by $0.01. Peregrine Pharmaceuticals had a negative return on equity of 90.82% and a negative net margin of 80.49%. The firm had revenue of $10.75 million for the quarter, compared to analysts’ expectations of $14.02 million. During the same period last year, the business earned ($0.08) earnings per share. The firm’s revenue for the quarter was up 60.2% on a year-over-year basis. Equities research analysts forecast that Peregrine Pharmaceuticals will post ($0.12) earnings per share for the current fiscal year.

Several large investors have recently bought and sold shares of the company. Kennedy Capital Management Inc. increased its stake in Peregrine Pharmaceuticals by 15.2% in the first quarter. Kennedy Capital Management Inc. now owns 8,730,392 shares of the biopharmaceutical company’s stock worth $5,710,000 after buying an additional 1,154,639 shares during the period. Vanguard Group Inc. increased its stake in Peregrine Pharmaceuticals by 43.4% in the first quarter. Vanguard Group Inc. now owns 6,180,624 shares of the biopharmaceutical company’s stock worth $4,042,000 after buying an additional 1,872,029 shares during the period. Renaissance Technologies LLC increased its stake in Peregrine Pharmaceuticals by 24.4% in the first quarter. Renaissance Technologies LLC now owns 3,077,652 shares of the biopharmaceutical company’s stock worth $2,013,000 after buying an additional 603,806 shares during the period. Geode Capital Management LLC increased its stake in Peregrine Pharmaceuticals by 31.6% in the first quarter. Geode Capital Management LLC now owns 1,437,491 shares of the biopharmaceutical company’s stock worth $940,000 after buying an additional 344,811 shares during the period. Finally, Acadian Asset Management LLC purchased a new stake in Peregrine Pharmaceuticals during the first quarter worth $473,000. 12.19% of the stock is owned by institutional investors.

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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.

12 Month Chart for NASDAQ:PPHM

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