Shares of Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) have received an average rating of “Buy” from the seven ratings firms that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $28.67.

A number of equities research analysts recently commented on SPPI shares. Jefferies Group LLC set a $9.00 target price on Spectrum Pharmaceuticals and gave the stock a “buy” rating in a report on Friday, August 25th. Zacks Investment Research raised Spectrum Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Wednesday, July 5th. HC Wainwright reaffirmed a “buy” rating and set a $14.00 target price on shares of Spectrum Pharmaceuticals in a report on Thursday, September 14th. Finally, BidaskClub downgraded Spectrum Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st.

A number of hedge funds have recently made changes to their positions in SPPI. Ameriprise Financial Inc. raised its position in Spectrum Pharmaceuticals by 6.0% during the first quarter. Ameriprise Financial Inc. now owns 376,385 shares of the biotechnology company’s stock valued at $2,447,000 after acquiring an additional 21,405 shares in the last quarter. Parametric Portfolio Associates LLC raised its position in Spectrum Pharmaceuticals by 16.6% during the first quarter. Parametric Portfolio Associates LLC now owns 132,064 shares of the biotechnology company’s stock valued at $858,000 after acquiring an additional 18,760 shares in the last quarter. Prudential Financial Inc. raised its position in Spectrum Pharmaceuticals by 101.5% during the first quarter. Prudential Financial Inc. now owns 379,496 shares of the biotechnology company’s stock valued at $2,467,000 after acquiring an additional 191,180 shares in the last quarter. Arizona State Retirement System raised its position in Spectrum Pharmaceuticals by 2.5% during the first quarter. Arizona State Retirement System now owns 36,955 shares of the biotechnology company’s stock valued at $240,000 after acquiring an additional 900 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in Spectrum Pharmaceuticals by 4.6% during the first quarter. Principal Financial Group Inc. now owns 553,451 shares of the biotechnology company’s stock valued at $3,598,000 after acquiring an additional 24,245 shares in the last quarter. Institutional investors own 66.41% of the company’s stock.

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Spectrum Pharmaceuticals (NASDAQ:SPPI) last released its earnings results on Thursday, August 3rd. The biotechnology company reported ($0.26) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.27) by $0.01. Spectrum Pharmaceuticals had a negative return on equity of 30.95% and a negative net margin of 59.33%. The firm had revenue of $34.30 million during the quarter, compared to the consensus estimate of $30.50 million. During the same quarter in the previous year, the company posted ($0.35) earnings per share. The company’s revenue was up 1.0% compared to the same quarter last 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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