Rhumbline Advisers Has $2.31 Million Stake in Spectrum Pharmaceuticals, Inc. (SPPI)

Rhumbline Advisers lifted its position in Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) by 4.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 163,884 shares of the biotechnology company’s stock after buying an additional 7,550 shares during the period. Rhumbline Advisers owned approximately 0.16% of Spectrum Pharmaceuticals worth $2,306,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Geode Capital Management LLC boosted its stake in Spectrum Pharmaceuticals by 6.0% in the 1st quarter. Geode Capital Management LLC now owns 545,118 shares of the biotechnology company’s stock worth $3,543,000 after purchasing an additional 30,649 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Spectrum Pharmaceuticals by 12.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,211,245 shares of the biotechnology company’s stock worth $14,373,000 after purchasing an additional 240,614 shares in the last quarter. Bank of America Corp DE boosted its stake in Spectrum Pharmaceuticals by 52.3% in the 1st quarter. Bank of America Corp DE now owns 231,750 shares of the biotechnology company’s stock worth $1,507,000 after purchasing an additional 79,619 shares in the last quarter. State Street Corp boosted its stake in Spectrum Pharmaceuticals by 45.3% in the 1st quarter. State Street Corp now owns 2,353,958 shares of the biotechnology company’s stock worth $15,305,000 after purchasing an additional 733,651 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY boosted its stake in Spectrum Pharmaceuticals by 9.5% in the 1st quarter. Metropolitan Life Insurance Co. NY now owns 58,831 shares of the biotechnology company’s stock worth $382,000 after purchasing an additional 5,111 shares in the last quarter. 71.88% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Spectrum Pharmaceuticals, Inc. (SPPI) opened at $18.92 on Monday. The company has a quick ratio of 4.89, a current ratio of 5.04 and a debt-to-equity ratio of 0.33. Spectrum Pharmaceuticals, Inc. has a 12 month low of $4.17 and a 12 month high of $21.95.

Spectrum Pharmaceuticals (NASDAQ:SPPI) last announced its quarterly earnings data on Thursday, November 2nd. The biotechnology company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.06). Spectrum Pharmaceuticals had a negative net margin of 58.94% and a negative return on equity of 29.73%. The business had revenue of $36.40 million for the quarter, compared to analyst estimates of $33.27 million. During the same quarter in the previous year, the firm posted ($0.07) earnings per share. The business’s revenue was up 9.0% on a year-over-year basis. sell-side analysts expect that Spectrum Pharmaceuticals, Inc. will post -1.03 earnings per share for the current fiscal year.

A number of analysts recently commented on the stock. Zacks Investment Research cut shares of Spectrum Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, August 18th. Jefferies Group set a $9.00 target price on shares of Spectrum Pharmaceuticals and gave the stock a “buy” rating in a research note on Friday, August 25th. HC Wainwright reiterated a “buy” rating and issued a $14.00 target price on shares of Spectrum Pharmaceuticals in a research note on Wednesday, August 16th. ValuEngine upgraded shares of Spectrum Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Thursday, August 17th. Finally, Guggenheim assumed coverage on shares of Spectrum Pharmaceuticals in a research note on Monday, October 23rd. They issued a “buy” rating and a $32.00 target price for the company. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the stock. Spectrum Pharmaceuticals presently has an average rating of “Buy” and a consensus target price of $21.40.

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Spectrum Pharmaceuticals 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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Institutional Ownership by Quarter for Spectrum Pharmaceuticals (NASDAQ:SPPI)

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