[May 24, 2012] Peregrine Pharmaceuticals Up 5.2%, Penny Stock Attracts Attention (PPHM) Tweet May 24, 2012 (SmarTrend(R) Spotlight via COMTEX) -- Peregrine Pharmaceuticals (NASDAQ:PPHM) is one of today's best performing penny stocks, up 5.2% to $0.59 on 2.1x average daily volume. Peregrine Pharmaceuticals has traded 1.2 million shares thus far today, vs. average volume of 558,000 shares per day. The stock has outperformed the Dow (5.2% to the Dow's 0.0%) and outperformed the S&P 500 (5.2% to the S&P's 0.1%) during today's trading. Peregrine Pharmaceuticals, Inc. is a biopharmaceutical company. The Company is focused on the research, development and commercialization of novel therapeutics for cancer and a wide range of viral diseases. There is potential upside of 596.1% for shares of Peregrine Pharmaceuticals based on a current price of $0.59 and an average consensus analyst price target of $4.10. The stock should find resistance at its 200-day moving average (MA) of $0.92, as well as support at its 50-day MA of $0.49. In the past 52 weeks, Peregrine Pharmaceuticals share prices have been bracketed by a low of $0.39 and a high of $2.27 and are now at $0.59, 51% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 1.3% while the 200-day MA has slid 1.3%. SmarTrend is monitoring the recent change of momentum in Peregrine Pharmaceuticals. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Peregrine Pharmaceuticals in search of a potential trend change. Write to Chip Brian at [email protected] --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup [ Back To TMCnet.com's Homepage ]