I believe that the stock price of Peregrine Pharmaceuticals (PPHM) only has a 10% chance of rising beyond $2.00 per share in the next year. The more likely scenario is that the stock price will fall to under $1 per share in short order. I question the company's ability to generate revenue and believe that at the current price, further positive developments are being priced in that may not come to fruition. I rate this stock a sell. Disclosure, I have no positions in PPHM stock.
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