Peregrine Pharmaceuticals (NASDAQ:CDMO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Saturday, December 16th.
According to Zacks, “Peregrine Pharmaceuticals, Inc. is a biopharmaceutical company with a portfolio of innovative product candidates in clinical trials for the treatment of cancer and hepatitis C virus infection. The company is pursuing three separate clinical trials in cancer and HCV infection with its lead product candidate bavituximab and Cotara. Peregrine also has in-house manufacturing capabilities through its wholly owned subsidiary Avid Bioservices, Inc., which provides development and bio-manufacturing services for both Peregrine and outside customers. “
CDMO has been the topic of a number of other research reports. Noble Financial initiated coverage on shares of Peregrine Pharmaceuticals in a research report on Friday, September 29th. They set a “buy” rating and a $10.00 price objective on the stock. ValuEngine cut shares of Peregrine Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Friday, December 1st.
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Peregrine Pharmaceuticals Company Profile
Avid Bioservices, Inc, formerly Peregrine Pharmaceuticals, Inc, incorporated on September 25, 1996, is a biopharmaceutical company. The Company is engaged in providing contract manufacturing services for third party customers on a fee-for-service basis while also supporting its internal drug development efforts.
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