Roth Capital Remains Positive on Peregrine Pharmaceuticals Following Bavituximab Preclinical Data Set Presentation at ASCO
Roth Capital analyst Joseph Pantginis weighed in with some commentary on Peregrine Pharmaceuticals (NASDAQ:PPHM) after the company generated a preclinical data set supporting the immune mechanism of action for bavituximab, an antibody designed for the treatment of cancers and viral infections, at the ASCO 2015. The analyst reiterated a Buy rating on the stock with a price target of $5.00. Shares of PPHM are currently trading at $1.47, up $0.01, or 0.34%.
Pantginis commented, “At this point, we believe the company must now execute on its clinical plans, including recently announced studies and deliver one or more outcomes including, 1) clinical data and/or 2) clinical collaboration/partnership for bavi. The clinical program is supported by randomized Phase II lung cancer data and the ongoing randomized Phase III SUNRISE study.”
We also believe a resulting key theme is the need for novel and effective combination approaches as the checkpoints only get patients so far. We believe combination agents will also come from immunotherapy candidates such as Peregrine’s bavituximab and also a resurgence in interest in cancer vaccines.”, the analyst added.
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Joseph Pantginis has a total average return of 9.8% and a 53.1% success rate. Pantginis has a -17.4% average return when recommending PPHM, and is ranked #190 out of 3621 analysts.
The 2 analysts polled by TipRanks rate Peregrine Pharma stock a Buy. With a return potential of 139.7%, the stock’s consensus target price stands at $3.50.