Spectrum Pharmaceuticals PT Raised to $7.50 (SPPI)
Equities research analysts at R. F. Lafferty raised their price objective on shares of Spectrum Pharmaceuticals (NASDAQ:SPPI) to $7.50 in a research note issued to investors on Tuesday. The firm currently has a “hold” rating on the stock. R. F. Lafferty’s price target indicates a potential downside of 3.35% from the company’s current price.
A number of other analysts have also recently weighed in on SPPI. Analysts at Roth Capital reiterated a “positive” rating on shares of Spectrum Pharmaceuticals in a research note on Monday, July 7th. Separately, analysts at Zacks downgraded shares of Spectrum Pharmaceuticals from an “outperform” rating to a “neutral” rating in a research note on Thursday, June 5th. They now have a $8.60 price target on the stock. Finally, analysts at Zacks upgraded shares of Spectrum Pharmaceuticals from a “neutral” rating to an “outperform” rating in a research note on Wednesday, May 7th. They now have a $7.40 price target on the stock. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $11.02.
Shares of Spectrum Pharmaceuticals (NASDAQ:SPPI) traded down 3.87% during mid-day trading on Tuesday, hitting $7.46. 716,704 shares of the company’s stock traded hands. Spectrum Pharmaceuticals has a 52 week low of $6.36 and a 52 week high of $10.32. The stock’s 50-day moving average is $8.21 and its 200-day moving average is $8.05. The company’s market cap is $473.3 million.
Spectrum Pharmaceuticals (NASDAQ:SPPI) last released its earnings data on Thursday, May 8th. The company reported $0.01 EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.22) by $0.23. The company had revenue of $40.10 million for the quarter, compared to the consensus estimate of $39.49 million. During the same quarter in the prior year, the company posted $0.01 earnings per share. The company’s quarterly revenue was up 3.6% on a year-over-year basis. On average, analysts predict that Spectrum Pharmaceuticals will post $-0.70 earnings per share for the current fiscal year.
Spectrum Pharmaceuticals, Inc (NASDAQ:SPPI) is a biotechnology company with fully integrated commercial and drug development operations with a primary focus in hematology and oncology.
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