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Strong Buy: Peregrine Pharmaceuticals Inc.? (NASDAQ:PPHM)
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Peregrine Pharmaceuticals Inc. (NASDAQ:PPHM) [Trend Analysis] is a small cap biotech getting a lot of press lately. So we look to see what the analysts, the so called experts, think of the prospects for this stock.
Peregrine Pharmaceuticals Inc. (NASDAQ:PPHM) last traded at $1.53 after moving up 5.52% for the trading day. The company last released their quarterly earnings results on 03-12-15 for the period ended Jan-15. The company reported earnings of -$0.08 against a Zack’s research estimate of -$0.08. This represents a 0.00% surprise on the expected result.
The current average broker recommendation for Peregrine Pharmaceuticals Inc., according to Zack’s research, is 1.00, based on 2 broker ratings. With 1 being a strong buy and 5 being a strong sell, this means that on a consensus basis, analysts currently see Peregrine Pharmaceuticals Inc. as a strong buy. The 12 month target consensus price estimate among these analysts for Peregrine Pharmaceuticals Inc. is currently at $4.50.
Out of the 2 broker recommendations for PPHM, 2 recommend it as a strong buy, 0 as a buy, 0 as a hold 0 as a sell and 0 as a strong sell.
For the current quarter, the consensus analyst estimate for Peregrine Pharmaceuticals Inc. (NASDAQ:PPHM) is -$0.07, with analysts expecting year on year growth for the company of -16.67%
About Peregrine Pharmaceuticals Inc. (NASDAQ:PPHM)
Peregrine Pharmaceuticals, Inc. is a biopharmaceutical company with a portfolio of innovative product candidates in clinical trials for the treatment of cancer and hepatitis C virus infection. The company is pursuing three separate clinical trials in cancer and HCV infection with its lead product candidate bavituximab and Cotara. Peregrine also has in-house manufacturing capabilities through its wholly owned subsidiary Avid Bioservices, Inc., which provides development and bio-manufacturing services for both Peregrine and outside customers.
