Brokerages expect Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) to report sales of $34.40 million for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Spectrum Pharmaceuticals’ earnings. The highest sales estimate is $34.50 million and the lowest is $34.30 million. Spectrum Pharmaceuticals posted sales of $33.39 million during the same quarter last year, which suggests a positive year over year growth rate of 3%. The company is scheduled to report its next quarterly earnings results on Monday, November 13th.
On average, analysts expect that Spectrum Pharmaceuticals will report full-year sales of $34.40 million for the current fiscal year, with estimates ranging from $133.00 million to $133.60 million. For the next fiscal year, analysts anticipate that the firm will post sales of $134.00 million per share, with estimates ranging from $126.20 million to $141.80 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow Spectrum Pharmaceuticals.
Spectrum Pharmaceuticals (NASDAQ:SPPI) last posted its earnings results on Thursday, August 3rd. The biotechnology company reported ($0.26) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.27) by $0.01. Spectrum Pharmaceuticals had a negative net margin of 59.33% and a negative return on equity of 30.95%. The business had revenue of $34.30 million for the quarter, compared to analysts’ expectations of $30.50 million. During the same period in the prior year, the company posted ($0.35) EPS. The business’s revenue for the quarter was up 1.0% compared to the same quarter last year.
A number of equities analysts have weighed in on SPPI shares. Jefferies Group LLC set a $9.00 price target on shares of Spectrum Pharmaceuticals and gave the stock a “buy” rating in a research report on Friday, August 25th. Zacks Investment Research upgraded shares of Spectrum Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th. ValuEngine upgraded shares of Spectrum Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Thursday, May 11th. HC Wainwright reiterated a “buy” rating and issued a $14.00 price target on shares of Spectrum Pharmaceuticals in a research report on Wednesday, August 16th. Finally, BidaskClub lowered shares of Spectrum Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $10.80.
Several large investors have recently modified their holdings of the stock. Piedmont Investment Advisors LLC bought a new position in shares of Spectrum Pharmaceuticals during the second quarter worth $114,000. State Street Corp boosted its position in shares of Spectrum Pharmaceuticals by 28.3% during the second quarter. State Street Corp now owns 3,020,563 shares of the biotechnology company’s stock worth $22,507,000 after acquiring an additional 666,605 shares during the last quarter. Cornerstone Capital Management Holdings LLC. boosted its position in shares of Spectrum Pharmaceuticals by 196.5% during the second quarter. Cornerstone Capital Management Holdings LLC. now owns 187,697 shares of the biotechnology company’s stock worth $1,397,000 after acquiring an additional 124,383 shares during the last quarter. Macquarie Group Ltd. boosted its position in shares of Spectrum Pharmaceuticals by 9.4% during the second quarter. Macquarie Group Ltd. now owns 2,247,493 shares of the biotechnology company’s stock worth $16,744,000 after acquiring an additional 193,883 shares during the last quarter. Finally, PDT Partners LLC boosted its position in shares of Spectrum Pharmaceuticals by 15.3% during the second quarter. PDT Partners LLC now owns 142,000 shares of the biotechnology company’s stock worth $1,058,000 after acquiring an additional 18,800 shares during the last quarter. Hedge funds and other institutional investors own 66.09% of the company’s stock.
Spectrum Pharmaceuticals (NASDAQ:SPPI) traded up 1.23% during mid-day trading on Friday, hitting $9.88. 713,934 shares of the stock traded hands. The company’s market cap is $776.33 million. Spectrum Pharmaceuticals has a 12 month low of $3.21 and a 12 month high of $9.96. The company’s 50 day moving average is $8.66 and its 200 day moving average is $7.08.
Spectrum Pharmaceuticals Company Profile
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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