Spectrum Pharmaceuticals, Inc. (SPPI) Given Consensus Rating of “Buy” by Brokerages
Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) has been assigned a consensus recommendation of “Buy” from the six ratings firms that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $9.67.
SPPI has been the topic of a number of analyst reports. Jefferies Group LLC reissued a “buy” rating and issued a $8.50 target price on shares of Spectrum Pharmaceuticals in a research note on Thursday, April 6th. Zacks Investment Research raised shares of Spectrum Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Wednesday, July 5th. ValuEngine raised shares of Spectrum Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Thursday, May 11th. HC Wainwright set a $10.00 target price on shares of Spectrum Pharmaceuticals and gave the company a “buy” rating in a research note on Saturday, May 6th. Finally, FBR & Co reissued a “buy” rating on shares of Spectrum Pharmaceuticals in a research note on Saturday, April 1st.
A number of hedge funds have recently modified their holdings of the company. State of Alaska Department of Revenue boosted its stake in shares of Spectrum Pharmaceuticals by 77.1% in the second quarter. State of Alaska Department of Revenue now owns 13,918 shares of the biotechnology company’s stock valued at $103,000 after buying an additional 6,058 shares in the last quarter. Denver Investment Advisors LLC purchased a new stake in shares of Spectrum Pharmaceuticals during the first quarter valued at $106,000. Mason Street Advisors LLC boosted its stake in shares of Spectrum Pharmaceuticals by 8.4% in the first quarter. Mason Street Advisors LLC now owns 16,577 shares of the biotechnology company’s stock valued at $108,000 after buying an additional 1,279 shares in the last quarter. Louisiana State Employees Retirement System boosted its stake in shares of Spectrum Pharmaceuticals by 2.8% in the first quarter. Louisiana State Employees Retirement System now owns 28,900 shares of the biotechnology company’s stock valued at $188,000 after buying an additional 800 shares in the last quarter. Finally, Nine Chapters Capital Management LLC boosted its stake in shares of Spectrum Pharmaceuticals by 153.1% in the first quarter. Nine Chapters Capital Management LLC now owns 32,400 shares of the biotechnology company’s stock valued at $211,000 after buying an additional 19,600 shares in the last quarter. 67.35% of the stock is currently owned by hedge funds and other institutional investors.
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Shares of Spectrum Pharmaceuticals (SPPI) traded down 2.79% on Tuesday, hitting $8.02. The company’s stock had a trading volume of 562,281 shares. The company’s market cap is $629.75 million. Spectrum Pharmaceuticals has a 52 week low of $3.21 and a 52 week high of $8.28. The stock’s 50 day moving average is $7.16 and its 200-day moving average is $6.27.
Spectrum Pharmaceuticals (NASDAQ:SPPI) last posted its earnings results on Tuesday, May 2nd. The biotechnology company reported ($0.18) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.20) by $0.02. The business had revenue of $29.10 million for the quarter, compared to analysts’ expectations of $32.23 million. Spectrum Pharmaceuticals had a negative net margin of 62.39% and a negative return on equity of 24.06%. On average, equities research analysts anticipate that Spectrum Pharmaceuticals will post ($1.09) earnings per share for the current year.
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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