Shares of Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) have been assigned an average recommendation of “Buy” from the six analysts that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $19.00.
SPPI has been the subject of several research analyst reports. HC Wainwright restated a “buy” rating and set a $14.00 price objective on shares of Spectrum Pharmaceuticals in a research report on Thursday, September 14th. Zacks Investment Research upgraded shares of Spectrum Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th. Jefferies Group LLC boosted their price objective on shares of Spectrum Pharmaceuticals from $13.00 to $18.00 and gave the company a “buy” rating in a research report on Monday. ValuEngine upgraded shares of Spectrum Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Thursday, August 17th. Finally, BidaskClub downgraded shares of Spectrum Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st.
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Spectrum Pharmaceuticals (NASDAQ SPPI) traded down 2.14% during midday trading on Friday, reaching $13.75. The company had a trading volume of 856,366 shares. The company’s market capitalization is $1.16 billion. Spectrum Pharmaceuticals has a one year low of $3.21 and a one year high of $15.32. The stock’s 50 day moving average is $11.03 and its 200 day moving average is $8.09.
Spectrum Pharmaceuticals (NASDAQ:SPPI) last announced its quarterly earnings data on Thursday, August 3rd. The biotechnology company reported ($0.26) EPS for the quarter, beating the 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 during the quarter, compared to the consensus estimate of $30.50 million. During the same period in the previous year, the business earned ($0.35) earnings per share. The company’s revenue was up 1.0% on a year-over-year basis. Equities research analysts forecast that Spectrum Pharmaceuticals will post ($1.06) earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently bought and sold shares of SPPI. Vanguard Group Inc. grew its stake in shares of Spectrum Pharmaceuticals by 13.8% during the first quarter. Vanguard Group Inc. now owns 7,208,723 shares of the biotechnology company’s stock worth $46,858,000 after buying an additional 874,871 shares during the last quarter. State Street Corp grew its stake in shares of Spectrum Pharmaceuticals by 45.3% during the first quarter. State Street Corp now owns 2,353,958 shares of the biotechnology company’s stock worth $15,305,000 after buying an additional 733,651 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Spectrum Pharmaceuticals by 9.7% during the first quarter. Renaissance Technologies LLC now owns 5,679,800 shares of the biotechnology company’s stock worth $36,919,000 after buying an additional 502,488 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Spectrum Pharmaceuticals by 21.0% during the second quarter. Dimensional Fund Advisors LP now owns 2,674,679 shares of the biotechnology company’s stock worth $19,926,000 after buying an additional 463,434 shares during the last quarter. Finally, Kennedy Capital Management Inc. bought a new stake in shares of Spectrum Pharmaceuticals during the first quarter worth $2,054,000. 66.09% of the stock is currently owned by hedge funds and other institutional investors.
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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