The Downtrend For Peregrine Pharmaceuticals (NASDAQ:PPHM) Rages On

[[tagnumber 0]][[tagnumber 1]]Although the shares of Peregrine Pharmaceuticals (NASDAQ:PPHM) have been traded within the $1.19 – $1.75 per share over the last twelve months, this does not necessarily mean that the stock has not been volatile. Sure it has, albeit on a smaller scale than some ot its competitors.[[tagnumber 2]] [[tagnumber 0]]After announcing earnings on July 14, PPHM enjoyed a short resurgence on the charts, hitting $1.38 per share two days later, only to subside below the $1.30 mark the following week. At present, PPHM shares are quoted at $1.25 or thereabouts and, judging from the stock‘s graph, has yet to get out of the downward spiral it fell into in early–March. So how do analysts over at the Nasdaq feel about this stock?[[tagnumber 2]] [[tagnumber 0]]On the one hand, a few analysts tend to recommend PPHM as a strong buy. Indeed, the company has been improving its revenue streams for the last four years in a row. During the fiscal year ended Apr. 30, 2015, the biopharmaceutical enterprise focused on developing cancer treatment solutions generated $26.7 million in revenue, its highest so far. However, the company also incurred a net loss in excess of $54 million as opposed to $35.7 million in the preceding fiscal year. No earnings surprises have come up over the last four quarters on record, either. Considering that none of Peregrine‘s product candidates has reached the NDA stage, it is no wonder why analysts expect the company to continue to incur losses for the next few years.[[tagnumber 2]] [[tagnumber 0]]We have yet[[tagnumber 8]] to see how Peregrine‘s current Phase III trial will pan out. Provided that it yields positive results allowing for an NDA, the market sentiment about the stock might change for the better. Right now, investors seem to be sceptical when it comes to a potential rebound in the price of PPHM, partly because of the fairly large amount of uncovered short sales in relation to the stock‘s average volume.[[tagnumber 2]]