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Company Profile: Peregrine Pharmaceuticals is a clinical-stage biopharmaceutical company developing monoclonal antibodies for the treatment of cancer and viral infections.
Earnings Reporting Date: July 14 (confirmed)
Current Share Price: $1.97
2011 Share Price Performance: -14%
Analyst Ratings: Peregrine nets a "buy" rating from Roth Capital Partners and McNicoll Lewis. Both research shops have a $10 price target on the stock.
What To Watch For: In Peregrine's fiscal third quarter, revenue plunged to $2.9 million from $9.9 million in the same quarter a year prior. Peregrine blamed the decrease on both a reduction in government contract revenue as well as lower contract manufacturing revenue due to the level and timing of services provided to third-party clients of its Avid Bioservices subsidiary. In addition to watching revenue, investors should be on the lookout for any update to Phase II survival data for its treatment of non-small cell lung cancer.
-- Written by Robert Holmes in Boston.
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