June 29, 2004
SpeculatingStocks.com Stock Pick: Peregrine Pharmaceuticals, Inc. (PPHM)
Stock Price: $0.95 (long-term strong buy)
Peregrine Pharmaceuticals, Inc. is a biopharmaceutical company with a portfolio of products under development directed towards the treatment of cancer, viruses and other diseases. The company is in the process of initiating patient enrollment in a Tarvacin(TM) clinical trial for the treatment of all solid cancers and in a Cotara® clinical trial for the treatment of brain cancer.
The company recently received a $6.7 million private placement on June 23rd. The funding will be used to further the three current clinical trials and to study Tarvacin(TM)'s full potential.
PPHM is now at the bottom of its range and a solid buy. PPHM has been below $1.00 two other times this year and each time has jumped above $1.60.
If Tarvacin lives up to its potential, it could become a blockbuster cancer drug.
SpeculatingStocks.com Target Price: We expect PPHM to move above $1.60 within the next 1-3 months.