Analysts expect that Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) will announce $31.20 million in sales for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Spectrum Pharmaceuticals’ earnings, with estimates ranging from $27.90 million to $33.10 million. Spectrum Pharmaceuticals posted sales of $33.95 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 8.1%. The business is scheduled to issue its next quarterly earnings results on Tuesday, August 8th.

According to Zacks, analysts expect that Spectrum Pharmaceuticals will report full year sales of $31.20 million for the current fiscal year, with estimates ranging from $111.35 million to $124.50 million. For the next financial year, analysts forecast that the company will post sales of $125.61 million per share, with estimates ranging from $104.74 million to $139.10 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover Spectrum Pharmaceuticals.

Spectrum Pharmaceuticals (NASDAQ:SPPI) last announced its quarterly earnings results on Tuesday, May 2nd. The biotechnology company reported ($0.18) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.20) by $0.02. Spectrum Pharmaceuticals had a negative return on equity of 24.06% and a negative net margin of 62.39%. The company had revenue of $29.10 million during the quarter, compared to analyst estimates of $32.23 million.

A number of brokerages have commented on SPPI. Jefferies Group LLC increased their price objective on Spectrum Pharmaceuticals from $8.50 to $9.00 and gave the company a “buy” rating in a research report on Wednesday, May 3rd. ValuEngine upgraded Spectrum Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Thursday, May 11th. Zacks Investment Research upgraded Spectrum Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Tuesday, June 6th. FBR & Co reiterated a “buy” rating on shares of Spectrum Pharmaceuticals in a research report on Saturday, April 1st. Finally, HC Wainwright set a $10.00 price objective on Spectrum Pharmaceuticals and gave the company a “buy” rating in a research report on Saturday, May 6th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $8.90.

Spectrum Pharmaceuticals (NASDAQ:SPPI) traded down 6.35% during mid-day trading on Thursday, hitting $7.37. The stock had a trading volume of 533,762 shares. The stock has a 50 day moving average of $7.28 and a 200-day moving average of $6.30. Spectrum Pharmaceuticals has a 1-year low of $3.21 and a 1-year high of $8.26. The firm’s market cap is $578.71 million.

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Hedge funds have recently modified their holdings of the company. State of Alaska Department of Revenue increased its stake in 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 Spectrum Pharmaceuticals during the first quarter valued at about $106,000. Mason Street Advisors LLC increased its stake in 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. Municipal Employees Retirement System of Michigan increased its stake in Spectrum Pharmaceuticals by 5.6% in the second quarter. Municipal Employees Retirement System of Michigan now owns 16,720 shares of the biotechnology company’s stock valued at $125,000 after buying an additional 880 shares in the last quarter. Finally, Thrivent Financial for Lutherans increased its stake in Spectrum Pharmaceuticals by 5.4% in the fourth quarter. Thrivent Financial for Lutherans now owns 37,600 shares of the biotechnology company’s stock valued at $167,000 after buying an additional 1,930 shares in the last quarter. 67.35% of the stock is currently owned by institutional investors and hedge funds.

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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Earnings History and Estimates for Spectrum Pharmaceuticals (NASDAQ:SPPI)

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