Roth Capital Sets Peregrine Pharmaceuticals Price Target at $9.00 (PPHM)

September 10th, 2012 - 0 comments - Filed Under - by Latisha Jones

Equities research analysts at Roth Capital increased their price target on shares of Peregrine Pharmaceuticals (NASDAQ: PPHM) from $5.00 to $9.00 in a research note issued to investors on Monday.

Shares of Peregrine Pharmaceuticals traded down 3.56% during mid-day trading on Monday, hitting $4.34. Peregrine Pharmaceuticals has a one year low of $0.39 and a one year high of $5.08. The company’s market cap is $452.1 million.

Peregrine Pharmaceuticals last announced its earnings results on Monday, September 10th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.04. The company’s revenue for the quarter was down 24.9% on a year-over-year basis. On average, analysts predict that Peregrine Pharmaceuticals will post $0.00 earnings per share for the current fiscal year.

Peregrine Pharmaceuticals, Inc. (Peregrine) is a clinical-stage biopharmaceutical company that develops monoclonal antibodies for the treatment of cancer and viral infections.

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