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

  • 10/9/2017 – Spectrum Pharmaceuticals had its price target raised by analysts at Jefferies Group LLC from $13.00 to $18.00. They now have a “buy” rating on the stock.
  • 10/4/2017 – Spectrum Pharmaceuticals had its price target raised by analysts at HC Wainwright from $14.00 to $20.00. They now have a “buy” rating on the stock.
  • 10/4/2017 – Spectrum Pharmaceuticals was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Spectrum's low product sales remain a cause of concern. Moreover, gaining market share is challenging for Spectrum as it competes with several companies with greater financial strength. However, the company’s lead pipeline candidate, Rolontis, is progressing well. A BLA is expected in 2018 and a potential approval will help the company compete better. However, Spectrum’s efforts to gain approval for Qapzola (bladder cancer) in the U.S. suffered a setback with the FDA issuing a complete response letter (CRL) in Nov 2016. Additional issues on the regulatory/development front could affect the stock. Also, low product sales remain a cause of concern. On the flip side, with the company entering into out-licensing agreements for a number of products, it will now be able to focus on Evomela and the development of its pipeline candidates. Spectrum’s shares have significantly outperformed the industry so far this year.”
  • 9/25/2017 – Spectrum Pharmaceuticals had its price target raised by analysts at Jefferies Group LLC from $9.00 to $13.00. They now have a “buy” rating on the stock.
  • 9/14/2017 – Spectrum Pharmaceuticals had its “buy” rating reaffirmed by analysts at HC Wainwright. They now have a $14.00 price target on the stock.
  • 8/25/2017 – Spectrum Pharmaceuticals was given a new $9.00 price target on by analysts at Jefferies Group LLC. They now have a “buy” rating on the stock.
  • 8/18/2017 – Spectrum Pharmaceuticals was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Spectrum reported encouraging Q2 results, beating estimates for both sales and earnings. The company's progress with its lead pipeline candidate, Rolontis has been quite impressive. The company expects top-line data from a pivotal study and plans to file a BLA in 2018. However, Spectrum’s efforts to gain approval for Qapzola (bladder cancer) in the U.S. suffered a setback with the FDA issuing a complete response letter (CRL) in Nov 2016. Additional issues on the regulatory/development front could affect the stock. Also, low product sales remain a cause of concern. On the flip side, with the company entering into out-licensing agreements for a number of products, it will now be able to focus on Evomela and the development of its pipeline candidates. Spectrum’s shares have outperformed the industry so far this year.”
  • 8/17/2017 – Spectrum Pharmaceuticals was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating.
  • 8/16/2017 – Spectrum Pharmaceuticals had its “buy” rating reaffirmed by analysts at HC Wainwright. They now have a $14.00 price target on the stock.

Shares of Spectrum Pharmaceuticals, Inc. (NASDAQ SPPI) traded down 2.70% during mid-day trading on Wednesday, reaching $13.67. The company had a trading volume of 1,283,458 shares. Spectrum Pharmaceuticals, Inc. has a 12-month low of $3.21 and a 12-month high of $15.32. The company’s market capitalization is $1.07 billion. The firm has a 50-day moving average of $11.03 and a 200-day moving average of $8.09.

Spectrum Pharmaceuticals (NASDAQ:SPPI) last released its quarterly earnings results on Thursday, August 3rd. The biotechnology company reported ($0.26) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.27) by $0.01. The company had revenue of $34.30 million for the quarter, compared to analyst estimates of $30.50 million. Spectrum Pharmaceuticals had a negative net margin of 59.33% and a negative return on equity of 30.95%. The firm’s revenue was up 1.0% on a year-over-year basis. During the same quarter last year, the business earned ($0.35) earnings per share. On average, equities analysts anticipate that Spectrum Pharmaceuticals, Inc. will post ($1.06) earnings per share for the current fiscal year.

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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