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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)
  • Must have bought too many shares......let me check my account. ;P
    8 Mar 2013, 12:41 PM Reply Like
  • 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
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