Peregrine Pharmaceuticals (PPHM) Announces Quarterly Earnings, Beats Estimates By $0.03 EPS

Peregrine Pharmaceuticals (NASDAQ: PPHM) posted its quarterly earnings results on Tuesday. The company reported ($0.04) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.07) by $0.03. The company had revenue of $7.04 million for the quarter, compared to the consensus estimate of $3.90 million. During the same quarter in the prior year, the company posted ($0.13) earnings per share. The company’s quarterly revenue was up 114.6% on a year-over-year basis.

PPHM has been the subject of a number of recent research reports. Analysts at Piper Jaffray initiated coverage on shares of Peregrine Pharmaceuticals in a research note to investors on Tuesday, March 5th. They set an “overweight” rating and a $2.50 price target on the stock. On a related note, analysts at Zacks downgraded shares of Peregrine Pharmaceuticals from an “outperform” rating to a “neutral” rating in a research note to investors on Tuesday, February 12th. They now have a $2.30 price target on the stock. Finally, analysts at Roth Capital upgraded shares of Peregrine Pharmaceuticals from a “neutral” rating to a “buy” rating in a research note to investors on Monday, January 7th. They now have a $2.70 price target on the stock.

Shares of Peregrine Pharmaceuticals (PPHM) traded down 2.47% during mid-day trading on Tuesday, hitting $1.58. Peregrine Pharmaceuticals (PPHM) has a 52 week low of $0.39 and a 52 week high of $5.50. The stock’s 50-day moving average is currently $1.76. The company’s market cap is $209.4 million.

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

Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.