PPHM on the fast recovery after bear raid of yesterday!
Peregrine Pharmaceuticals Up 7.7%, Shares Break Through Resistance (PPHM)
Peregrine Pharmaceuticals (NASDAQ:PPHM) is one of today's best performing low-priced stocks, up 7.7% to $1.82 on 1.1x average daily volume. Thus far today, Peregrine Pharmaceuticals has traded 6.9 million shares, vs. average volume of 6.4 million shares per day. The stock has outperformed the Dow (7.7% to the Dow's -0.1%) and outperformed the S&P 500 (7.7% to the S&P's 0.0%) during today's trading.
Peregrine Pharmaceuticals (NASDAQ:PPHM) has potential upside of 92.3% based on a current price of $1.82 and analysts' consensus price target of $3.50. Peregrine Pharmaceuticals shares have support at the 50-day moving average (MA) of $1.71 and additional support at the 200-day MA of $1.42.
Peregrine Pharmaceuticals share prices have moved between a 52-week high of $5.50 and a 52-week low of $0.39 and are now trading 367% above that low price at $1.82 per share. The 200-day and 50-day moving averages have moved 1.67% higher and 2.52% higher over the past week, respectively.
Peregrine Pharmaceuticals, Inc. is a biopharmaceutical company. The Company is focused on the research, development and commercialization of novel therapeutics for cancer and a wide range of viral diseases.