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Peregrine Pharmaceuticals (PPHM): New Coverage by JMP Securities 2011-08-30 11:52:07.769 GMT

Aug 30, 2011 (SmarTrend(R) Spotlight via COMTEX) -- Peregrine Pharmaceuticals (NASDAQ:PPHM) initiated at Outperform at JMP Securities. The stock closed yesterday at $1.43 on volume of 428,700 shares, below the average daily volume of 462,950.


In the past 52-weeks, shares of Peregrine Pharmaceuticals have traded between a low of $1.17 and a high of $3.1 and are now at $1.43, which is 22.2% above that low price.

Peregrine Pharmaceuticals should find initial resistance at its 50-day moving average (MA) of $1.66 and further resistance at its 200-day MA of $2.06. In the last five trading sessions, the 50-day MA has fallen 1.49% while the 200-day MA has remained constant.

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.

Write to Chip Brian at [e-mail]
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-0- Aug/30/2011 11:52 GMT