Quick Win by the Algorithm: PPHM Third Quarter Results Announced

Quick Win by the Algorithm

On February 13, 2017, the I Know First algorithm had predicted a bullish forecast for Peregrine Pharmaceuticals, Inc. (PPHM). It had a signal of 211.41 and a predictability of 0.27. The company reported gain of 111.89% in just 1 month and therefore, a quick win by the algorithm.

Peregrine Pharmaceuticals, Inc. (PPHM), a biopharmaceutical company, researches and develops monoclonal antibodies for the treatment of cancer in the United States. PPHM is currently pursuing multiple clinical programs with their lead product candidate, bavituximab.

Quick Win by the Algorithm

 

Peregrine Pharmaceuticals recently announced financial results for the third quarter fiscal year which ended January 31, 2017.

Steve King, CEO of Peregrine Pharmaceuticals, leads the conference. He says, “During the quarter, Avid’s revenue growth continued, representing a strong indicator of the increasing value of this contract development and manufacturing organization, or CDMO business. The steady growth of this business over the past five years has been remarkable, at almost 40% compounded annual growth rate.”

In addition, Paul Lytle, chief financial officer of Peregrine speaks. Saying, “The Avid business continues to build momentum.  During the third quarter of FY 2017, contract manufacturing revenue increased 61% to $10.7 million compared to the third quarter of FY 2016.  Given this performance, and our expected fourth quarter results, we are increasing our full FY 2017 revenue guidance from $50 to $55 million, to $60 to $65 million,”

Therefore, third quarter results are positive. Both Steve King and Paul Lytle are optimistic about the future of PPHM. This upward trend for Peregrine goes along with the I Know First bullish forecast.

This bullish forecast on PPHM was sent to current I Know First subscribers on February 13, 2017. 

Before making any trading decisions, consult the latest forecast as the algorithm constantly updates predictions daily. While the algorithm can be used for intra-day trading the predictability tends to become stronger with forecasts over longer time-horizons such as the 1-month, 3-month and 1-year forecasts.