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.

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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).

Earnings History for Spectrum Pharmaceuticals (NASDAQ:SPPI)

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