Recent Research Analysts’ Ratings Changes for Spectrum Pharmaceuticals (SPPI)

Several brokerages have updated their recommendations and price targets on shares of Spectrum Pharmaceuticals (NASDAQ: SPPI) in the last few weeks:

  • 9/12/2019 – Spectrum Pharmaceuticals was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
  • 9/10/2019 – Spectrum Pharmaceuticals was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.
  • 8/28/2019 – Spectrum Pharmaceuticals was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 8/27/2019 – Spectrum Pharmaceuticals was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
  • 8/23/2019 – Spectrum Pharmaceuticals was given a new $18.00 price target on by analysts at B. Riley. They now have a “buy” rating on the stock.
  • 8/21/2019 – Spectrum Pharmaceuticals was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
  • 8/10/2019 – Spectrum Pharmaceuticals was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.
  • 7/31/2019 – Spectrum Pharmaceuticals was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating.
  • 7/16/2019 – Spectrum Pharmaceuticals was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating.

SPPI traded down $0.30 on Friday, reaching $8.86. 417,019 shares of the company’s stock were exchanged, compared to its average volume of 883,809. The stock has a market cap of $999.90 million, a PE ratio of -8.77 and a beta of 2.54. Spectrum Pharmaceuticals, Inc. has a twelve month low of $6.22 and a twelve month high of $21.80. The stock’s fifty day moving average price is $7.66 and its 200-day moving average price is $8.80. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.37 and a quick ratio of 5.37.

Spectrum Pharmaceuticals (NASDAQ:SPPI) last posted its quarterly earnings results on Thursday, August 8th. The biotechnology company reported ($0.23) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.13. The firm had revenue of ($1.25) million for the quarter, compared to analyst estimates of $0.50 million. Spectrum Pharmaceuticals had a negative net margin of 109.76% and a negative return on equity of 41.95%. Spectrum Pharmaceuticals’s quarterly revenue was down 105.2% on a year-over-year basis. During the same period in the previous year, the business posted ($0.21) earnings per share. As a group, research analysts predict that Spectrum Pharmaceuticals, Inc. will post -1.21 earnings per share for the current fiscal year.

In other Spectrum Pharmaceuticals news, insider Keith M. Mcgahan sold 3,535 shares of the business’s stock in a transaction dated Wednesday, June 19th. The shares were sold at an average price of $8.49, for a total value of $30,012.15. Following the transaction, the insider now directly owns 135,756 shares in the company, valued at approximately $1,152,568.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William Ashton sold 6,667 shares of the business’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $8.57, for a total transaction of $57,136.19. Following the completion of the transaction, the director now owns 8,333 shares in the company, valued at $71,413.81. The disclosure for this sale can be found here. Insiders have sold 10,496 shares of company stock worth $89,433 over the last 90 days. 9.35% of the stock is currently owned by company insiders.

A number of large investors have recently bought and sold shares of SPPI. TRUE Private Wealth Advisors acquired a new position in Spectrum Pharmaceuticals in the 2nd quarter valued at about $34,000. Quantamental Technologies LLC boosted its holdings in Spectrum Pharmaceuticals by 22.5% in the 2nd quarter. Quantamental Technologies LLC now owns 9,563 shares of the biotechnology company’s stock valued at $82,000 after purchasing an additional 1,757 shares during the last quarter. Flinton Capital Management LLC boosted its holdings in Spectrum Pharmaceuticals by 15.3% in the 2nd quarter. Flinton Capital Management LLC now owns 11,968 shares of the biotechnology company’s stock valued at $103,000 after purchasing an additional 1,584 shares during the last quarter. Riverhead Capital Management LLC boosted its holdings in Spectrum Pharmaceuticals by 14.8% in the 2nd quarter. Riverhead Capital Management LLC now owns 13,200 shares of the biotechnology company’s stock valued at $114,000 after purchasing an additional 1,700 shares during the last quarter. Finally, Bank of Montreal Can boosted its holdings in Spectrum Pharmaceuticals by 218.6% in the 2nd quarter. Bank of Montreal Can now owns 13,498 shares of the biotechnology company’s stock valued at $116,000 after purchasing an additional 9,262 shares during the last quarter. Institutional investors own 73.25% of the company’s stock.

Spectrum Pharmaceuticals, Inc develops and commercializes oncology and hematology drug products. The company offers KHAPZORY, a novel folate analog and the pharmacologically active levo-isomer of d, and 1-leucovorin; FOLOTYN, a folate analogue metabolic inhibitor for peripheral T-cell lymphoma (PTCL); ZEVALIN injection to treat non-Hodgkin's lymphoma; MARQIBO for adult patients with Philadelphia chromosome-negative acute lymphoblastic leukemia; BELEODAQ, a histone deacytelase, or HDAC, inhibitor for the treatment of patients with relapsed or refractory PTCL; and EVOMELA for use as a conditioning treatment prior to autologous stem cell transplant in multiple myeloma patients.

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