Seeking Alpha

Shares of Peregrine Pharmaceuticals (PPHM +15%) are surging on no specific news today. Piper...

Shares of Peregrine Pharmaceuticals (PPHM +15%) are surging on no specific news today. Piper initiated the shares with an Overweight earlier this week - which gave the stock a +9% pop - citing optimism over its two novel cancer drug candidates, bavituximab and Cotara. Further data on overall survival rates for bavituximab are expected to be presented at an upcoming scientific meeting later this year.
Comments (2)
  • TruffelPig
    , contributor
    Comments (4060) | Send Message
     
    Must have bought too many shares......let me check my account. ;P
    8 Mar 2013, 12:41 PM Reply Like
  • ARNA Investor
    , contributor
    Comments (104) | Send Message
     
    Here is the "no specific news":

     

    Remember the shorts that drove it down from $1.75 to 0.80? They covered hard and fast at the end of November on "no specific news".

     

    They drove it down again from February 12th onward. They are now covering (again) in light of the upcoming earnings report rather than risk being blown out of the water by an update on PPHM's Sept. 2012 sabotage by BP.

     

    It's that simple folks.

     

    Owner since 0.80
    8 Mar 2013, 02:38 PM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Tools
Find the right ETFs for your portfolio:
Seeking Alpha's new ETF Hub
ETF Investment Guide:
Table of Contents | One Page Summary
Read about different ETF Asset Classes:
ETF Selector

Next headline on your portfolio:

|