Avid Bioservices Inc (CDMO)

[murdockkills]

http://www.streetinsider.com/Analyst+Comments/Peregrine+%28PPHM%29+RiskReward+Still+Favorable%3B+Plenty+to+Look+Forward+to+in+FY14+-+Roth/9259256.html

Roth Capital is positive on Peregrine Pharmaceuticals (Nasdaq: PPHM) following the company's FQ314 results.

Analyst Joseph Pantginis noted that Peregrine's financing overhang has been slightly alleviated to move SUNRISE study and other programs forward in a major way ... Management has indicated that early progress in the SUNRISE study is certainly meeting expectations and will be adding E.U. and Asian sites in the next few months. The business development activities are also in high gear, in our belief, and range from partnering discussions, clinical trial collaborations and signing new relationships for Avid. The company continues to provide both mechanistic and clinical data supporting bavituximab's broad potential.

Pantginis' outlook: With Peregrine being a pivotal stage company, we view the risk/reward profile as favorable, and we believe visibility from the trial initiation, a broadening bavi profile and partnering potential should drive the stock in 2014.

Roth has Peregrine at Buy with a price target of $5.

For an analyst ratings summary and ratings history on Peregrine Pharma click here. For more ratings news on Peregrine Pharmaceuticals click here.

Peregrine Pharma closed at $2.61 yesterday, with a 52 week range of $1.11 - $2.43.