Equities analysts expect that Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) will announce earnings per share of ($0.20) for the current quarter, Zacks reports. Three analysts have issued estimates for Spectrum Pharmaceuticals’ earnings. The highest EPS estimate is ($0.15) and the lowest is ($0.24). Spectrum Pharmaceuticals reported earnings of ($0.05) per share in the same quarter last year, which would indicate a negative year over year growth rate of 300%. The firm is expected to announce its next earnings report on Thursday, May 4th.
On average, analysts expect that Spectrum Pharmaceuticals will report full year earnings of ($0.79) per share for the current year, with EPS estimates ranging from ($0.98) to ($0.58). For the next year, analysts forecast that the business will report earnings of ($0.46) per share, with EPS estimates ranging from ($0.78) to $0.05. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for Spectrum Pharmaceuticals.
Spectrum Pharmaceuticals (NASDAQ:SPPI) last posted its quarterly earnings data on Wednesday, March 8th. The biotechnology company reported ($0.22) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.05. The company earned $35.24 million during the quarter, compared to analysts’ expectations of $31.13 million. Spectrum Pharmaceuticals had a negative net margin of 34.19% and a negative return on equity of 13.92%. The firm’s revenue for the quarter was down 30.0% on a year-over-year basis. During the same period in the prior year, the company posted ($0.02) EPS.
Several analysts have recently weighed in on the stock. FBR & Co reiterated a “buy” rating on shares of Spectrum Pharmaceuticals in a research report on Saturday, April 1st. HC Wainwright set a $10.00 target price on shares of Spectrum Pharmaceuticals and gave the company a “buy” rating in a research report on Saturday, March 11th. Jefferies Group LLC assumed coverage on shares of Spectrum Pharmaceuticals in a research report on Friday, February 10th. They set a “buy” rating and a $8.00 target price on the stock. Finally, Zacks Investment Research lowered shares of Spectrum Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Wednesday, January 11th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $8.80.
Spectrum Pharmaceuticals (NASDAQ:SPPI) traded up 1.72% during trading on Tuesday, reaching $7.09. 1,464,754 shares of the company’s stock were exchanged. The company’s market capitalization is $555.25 million. The company’s 50-day moving average is $6.42 and its 200-day moving average is $5.03. Spectrum Pharmaceuticals has a 1-year low of $3.21 and a 1-year high of $7.74.
Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Fund Advisors raised its position in Spectrum Pharmaceuticals by 24.1% in the third quarter. BlackRock Fund Advisors now owns 7,417,828 shares of the biotechnology company’s stock worth $34,641,000 after buying an additional 1,439,851 shares during the period. Dimensional Fund Advisors LP raised its position in Spectrum Pharmaceuticals by 10.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,970,631 shares of the biotechnology company’s stock worth $8,730,000 after buying an additional 181,018 shares during the period. Macquarie Group Ltd. raised its position in Spectrum Pharmaceuticals by 4.0% in the fourth quarter. Macquarie Group Ltd. now owns 1,800,669 shares of the biotechnology company’s stock worth $7,977,000 after buying an additional 69,087 shares during the period. Teachers Advisors LLC raised its position in Spectrum Pharmaceuticals by 1.4% in the fourth quarter. Teachers Advisors LLC now owns 1,098,002 shares of the biotechnology company’s stock worth $4,864,000 after buying an additional 15,197 shares during the period. Finally, Alambic Investment Management L.P. raised its position in Spectrum Pharmaceuticals by 50.8% in the third quarter. Alambic Investment Management L.P. now owns 295,601 shares of the biotechnology company’s stock worth $1,380,000 after buying an additional 99,600 shares during the period. Hedge funds and other institutional investors own 69.31% of the company’s stock.
About Spectrum Pharmaceuticals
Spectrum Pharmaceuticals, Inc is a biotechnology company. The Company operates through developing and commercializing oncology and hematology drug products segment. It has a product portfolio consisting of both commercial stage and development stage products that address various cancer types. The Company has six approved oncology/hematology products that target different types of cancer, including non-Hodgkin’s lymphoma (NHL), advanced metastatic colorectal cancer (mCRC), acute lymphoblastic leukemia (ALL) and multiple myeloma (MM).
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