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12:00 AM
Oct 01, 2012
 |  BioCentury  |  Analyst Picks & Changes

Analyst picks & changes

Analyst picks & changes

Company Bank Analyst Coverage Opinion Wk chg 9/28 cls
Peregrine Pharmaceuticals Inc. (NASDAQ:PPHM) MLV George Zavoico Downgrade Hold (from buy) -81% $1.03
Roth Capital Partners Joseph Pantginis Downgrade Neutral (from buy)
Zavoico also removed his target after Peregrine discovered "major discrepancies between some patient sample test results and patient treatment code assignments" in Phase IIb data for bavituximab in second-line non-small cell lung cancer (NSCLC) (see B19). Peregrine said investors should not rely on data reported from the trial, including an announcement in September that bavituximab plus docetaxel significantly improved median overall survival (OS) vs. docetaxel alone. The company is reviewing the source and effect of the discrepancies, but said they "appear to have been associated with the independent third party contracted to code and distribute investigational drug product."
Pantginis also lowered his target to $0.70 from $9 on the bavituximab news.
Questcor Pharmaceuticals Inc. (NASDAQ:QCOR) Jefferies Biren Amin Price target ...

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