Eqis Capital Management Inc. lowered its position in Peregrine Pharmaceuticals (NASDAQ:PPHM) by 10.4% during the first quarter, Holdings Channel reports. The fund owned 1,042,372 shares of the biopharmaceutical company’s stock after selling 120,557 shares during the period. Eqis Capital Management Inc. owned about 0.35% of Peregrine Pharmaceuticals worth $678,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Wells Fargo & Company MN increased its position in Peregrine Pharmaceuticals by 495.7% in the first quarter. Wells Fargo & Company MN now owns 228,628 shares of the biopharmaceutical company’s stock worth $149,000 after buying an additional 190,250 shares during the last quarter. Russell Investments Group Ltd. acquired a new position in Peregrine Pharmaceuticals during the first quarter worth approximately $210,000. Acadian Asset Management LLC acquired a new position in Peregrine Pharmaceuticals during the first quarter worth approximately $473,000. Finally, Renaissance Technologies LLC increased its position in Peregrine Pharmaceuticals by 0.5% in the fourth quarter. Renaissance Technologies LLC now owns 2,473,846 shares of the biopharmaceutical company’s stock worth $763,000 after buying an additional 11,400 shares during the last quarter. 12.19% of the stock is owned by institutional investors.
Shares of Peregrine Pharmaceuticals (NASDAQ:PPHM) traded up 2.581% during trading on Friday, reaching $0.612. 895,916 shares of the company traded hands. Peregrine Pharmaceuticals has a 12 month low of $0.28 and a 12 month high of $0.77. The stock’s market capitalization is $182.20 million. The company has a 50-day moving average of $0.63 and a 200-day moving average of $0.44.
Peregrine Pharmaceuticals (NASDAQ:PPHM) last announced its quarterly earnings data on Monday, March 13th. The biopharmaceutical company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by $0.01. The firm had revenue of $10.75 million for the quarter, compared to analyst estimates of $14.02 million. Peregrine Pharmaceuticals had a negative return on equity of 90.82% and a negative net margin of 80.49%. The company’s quarterly revenue was up 60.2% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.08) earnings per share. Analysts forecast that Peregrine Pharmaceuticals will post ($0.12) earnings per share for the current fiscal year.
A number of research firms have recently commented on PPHM. Zacks Investment Research raised shares of Peregrine Pharmaceuticals from a “hold” rating to a “buy” rating and set a $0.75 price objective for the company in a report on Friday, March 17th. Noble Financial reaffirmed a “buy” rating on shares of Peregrine Pharmaceuticals in a report on Thursday, April 6th.
Peregrine Pharmaceuticals Company 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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