Peregrine Pharmaceuticals Continues Strong Momentum; Shares up 14%

Peregrine Pharmaceuticals

is trading higher on the session following a break above its 200-day moving average yesterday. The stock is trading above $1 for the first time since March, 2012. Peregrine Pharmaceuticals has strong momentum, as the stock is up nearly 115% in the past motnh. The company is a clinical-stage biopharmaceutical company that develops and manufactures monoclonal antibodies for the treatment of cancer and viral infections. Peregrine Pharmaceuticals is currently trading at $1.07, a gain of $0.14 or 14.44%