Spectrum Pharmaceuticals, Inc. (SPPI) Issues Earnings Results
Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) released its earnings results on Thursday. The biotechnology company reported ($0.22) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.16) by ($0.06), Bloomberg Earnings reports. The business had revenue of $36.40 million during the quarter, compared to analyst estimates of $33.27 million. Spectrum Pharmaceuticals had a negative net margin of 58.94% and a negative return on equity of 32.72%. The business’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same period last year, the business earned ($0.07) EPS.
Shares of Spectrum Pharmaceuticals (NASDAQ SPPI) traded down $0.36 during trading hours on Friday, hitting $19.23. The stock had a trading volume of 1,203,630 shares, compared to its average volume of 2,678,268.
WARNING: This article was originally posted by American Banking News and is the sole property of of American Banking News. If you are accessing this article on another publication, it was copied illegally and reposted in violation of US and international copyright & trademark laws. The correct version of this article can be viewed at https://www.americanbankingnews.com/2017/11/03/spectrum-pharmaceuticals-inc-sppi-issues-earnings-results.html.
SPPI has been the topic of a number of research analyst reports. Jefferies Group LLC set a $9.00 target price on Spectrum Pharmaceuticals and gave the company a “buy” rating in a report on Friday, August 25th. HC Wainwright reaffirmed a “buy” rating and issued a $14.00 target price on shares of Spectrum Pharmaceuticals in a report on Thursday, September 14th. Zacks Investment Research lowered Spectrum Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Wednesday, October 4th. BidaskClub lowered Spectrum Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Finally, Guggenheim initiated coverage on Spectrum Pharmaceuticals in a report on Monday, October 23rd. They issued a “buy” rating and a $32.00 target price on the stock. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $21.40.
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).
Receive News & Ratings for Spectrum Pharmaceuticals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spectrum Pharmaceuticals Inc. and related companies with MarketBeat.com's FREE daily email newsletter.