Peregrine Pharmaceuticals, Inc. (PPHM) was a big mover last session, as its shares rose nearly 11% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This breaks the recent trend for the company, as the stock is now trading above the volatile price range of $1.29 to $1.48 in the past one-month time frame.
In the last 30 days, the company witnessed one negative estimate revision and the Zacks Consensus Estimate also moved lower, signaling trouble down the road. So make sure to keep an eye on this stock going forward to see if yesterday’s move higher lasts.
Peregrine Pharmaceuticals currently has a Zacks Rank #4 (Sell) while its Earnings ESP is 0.00%.
Some better-ranked biomedical stocks include Halozyme Therapeutics, Inc. (HALO), Merrimack Pharmaceuticals, Inc. (MACK) and Myriad Genetics Inc. (MYGN). All three sport a Zacks Rank #1 (Strong Buy).
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