Top 10 Penny Stocks To Buy in 2017

Page 5 of 11

7. Peregrine Pharmaceuticals (NASDAQ:PPHM)

Peregrine Pharmaceuticals (NASDAQ:PPHM) is a $164 million biopharmaceutical company, in which eight funds tracked by us held shares at the end of March, compared to six funds at the end of December. Among the investors bullish on the stock are Renaissance Technologies, which increased its stake by 25% to 3.08 million shares during the first quarter, and Ken Griffin’s Citadel Investment Group, which initiated a stake containing 205,651 shares.

In March, Peregrine Pharmaceuticals (NASDAQ:PPHM) posted its results for the third-quarter of its fiscal year 2017 (ended January 31), which included a net loss of $0.04 per share, worse than the expected loss of $0.03. Even though its revenue of $10.75 million was $3.25 million below expectations, it did jump by 60% over the year. Peregrine Pharmaceuticals (NASDAQ:PPHM) also raised its full-year manufacturing revenue guidance to $60-$65 million from the previous range of $50-$55 million.

wavebreakmedia/Shutterstock.com

wavebreakmedia/Shutterstock.com

Follow Avid Bioservices Inc. (NASDAQ:CDMO)

Page 5 of 11