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TMCNet: Peregrine Pharmaceuticals Up 7.7%, Shares Break Through Resistance (PPHM)

[February 14, 2013]

Peregrine Pharmaceuticals Up 7.7%, Shares Break Through Resistance (PPHM)

Feb 14, 2013 (SmarTrend(R) Spotlight via COMTEX) -- Peregrine Pharmaceuticals (NASDAQ:PPHM) is one of today's best performing low-priced stocks, up 7.7% to $1.82 on 1.1x average daily volume. Thus far today, Peregrine Pharmaceuticals has traded 6.9 million shares, vs. average volume of 6.4 million shares per day. The stock has outperformed the Dow (7.7% to the Dow's -0.1%) and outperformed the S&P 500 (7.7% to the S&P's 0.0%) during today's trading.

Peregrine Pharmaceuticals (NASDAQ:PPHM) has potential upside of 92.3% based on a current price of $1.82 and analysts' consensus price target of $3.50. Peregrine Pharmaceuticals shares have support at the 50-day moving average (MA) of $1.71 and additional support at the 200-day MA of $1.42.

Peregrine Pharmaceuticals share prices have moved between a 52-week high of $5.50 and a 52-week low of $0.39 and are now trading 367% above that low price at $1.82 per share. The 200-day and 50-day moving averages have moved 1.67% higher and 2.52% higher over the past week, respectively.

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.

SmarTrend recommended that subscribers consider buying shares of Peregrine Pharmaceuticals on November 27th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $1.05. Since that recommendation, shares of Peregrine Pharmaceuticals have risen 61.0%. We continue to monitor PPHM for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Write to Chip Brian at cbrian@mysmartrend.com --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup

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