Spectrum Pharmaceuticals, Inc. (SPPI) Stock Rating Reaffirmed by HC Wainwright
Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI)‘s stock had its “buy” rating restated by research analysts at HC Wainwright in a research report issued to clients and investors on Friday.
Several other equities analysts have also weighed in on SPPI. Zacks Investment Research lowered shares of Spectrum Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday, August 18th. Jefferies Group LLC set a $9.00 target price on shares of Spectrum Pharmaceuticals and gave the company a “buy” rating in a report on Friday, August 25th. BidaskClub lowered shares of Spectrum Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. ValuEngine upgraded shares of Spectrum Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday, August 17th. Finally, Guggenheim assumed coverage on shares of Spectrum Pharmaceuticals in a report on Monday, October 23rd. They set a “buy” rating and a $32.00 target price on the stock. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $21.40.
Spectrum Pharmaceuticals (NASDAQ:SPPI) traded up $0.43 during trading hours on Friday, hitting $19.66. 1,470,000 shares of the company traded hands, compared to its average volume of 2,678,268. The company has a current ratio of 3.08, a quick ratio of 2.93 and a debt-to-equity ratio of 0.56. Spectrum Pharmaceuticals has a 1-year low of $3.34 and a 1-year high of $21.95.
Spectrum Pharmaceuticals (NASDAQ:SPPI) last posted its earnings results on Thursday, November 2nd. The biotechnology company reported ($0.22) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.16) by ($0.06). The business had revenue of $36.40 million for 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 revenue was up 9.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.07) EPS. sell-side analysts forecast that Spectrum Pharmaceuticals will post -1 EPS for the current year.
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A number of hedge funds have recently modified their holdings of SPPI. State of Alaska Department of Revenue lifted its holdings in Spectrum Pharmaceuticals by 77.1% in the 2nd quarter. State of Alaska Department of Revenue now owns 13,918 shares of the biotechnology company’s stock worth $103,000 after buying an additional 6,058 shares in the last quarter. Piedmont Investment Advisors LLC acquired a new position in Spectrum Pharmaceuticals in the 2nd quarter worth $114,000. Municipal Employees Retirement System of Michigan lifted its holdings in Spectrum Pharmaceuticals by 5.6% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 16,720 shares of the biotechnology company’s stock worth $125,000 after buying an additional 880 shares in the last quarter. Pillar Pacific Capital Management LLC acquired a new position in Spectrum Pharmaceuticals in the 2nd quarter worth $138,000. Finally, BNP Paribas Arbitrage SA lifted its holdings in Spectrum Pharmaceuticals by 87.5% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 21,347 shares of the biotechnology company’s stock worth $159,000 after buying an additional 9,960 shares in the last quarter. Hedge funds and other institutional investors own 66.41% of the company’s stock.
About Spectrum Pharmaceuticals
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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