Equities research analysts predict that Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) will report sales of $33.05 million for the current quarter, Zacks reports. Two analysts have provided estimates for Spectrum Pharmaceuticals’ earnings, with the highest sales estimate coming in at $34.80 million and the lowest estimate coming in at $31.30 million. Spectrum Pharmaceuticals reported sales of $35.24 million during the same quarter last year, which indicates a negative year-over-year growth rate of 6.2%. The firm is expected to announce its next quarterly earnings report on Wednesday, March 14th.

On average, analysts expect that Spectrum Pharmaceuticals will report full year sales of $33.05 million for the current fiscal year, with estimates ranging from $131.10 million to $136.10 million. For the next year, analysts expect that the company will report sales of $131.20 million per share, with estimates ranging from $122.50 million to $139.90 million. Zacks’ sales calculations are an average based on a survey of research firms that follow Spectrum Pharmaceuticals.

Spectrum Pharmaceuticals (NASDAQ:SPPI) last issued its quarterly earnings data on Thursday, November 2nd. The biotechnology company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.06). The firm had revenue of $36.40 million for the quarter, compared to analysts’ expectations of $33.27 million. Spectrum Pharmaceuticals had a negative return on equity of 29.73% and a negative net margin of 58.94%. The business’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.07) EPS.

Several equities analysts have issued reports on the company. Jefferies Group raised their price objective on Spectrum Pharmaceuticals from $13.00 to $18.00 and gave the stock a “buy” rating in a report on Monday, October 9th. Zacks Investment Research downgraded shares of Spectrum Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, August 18th. HC Wainwright reiterated a “buy” rating and set a $29.00 target price (up previously from $20.00) on shares of Spectrum Pharmaceuticals in a research note on Wednesday, October 18th. Guggenheim started coverage on shares of Spectrum Pharmaceuticals in a research note on Monday, October 23rd. They set a “buy” rating and a $32.00 target price for the company. Finally, ValuEngine upgraded shares of Spectrum Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Thursday, August 17th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the stock. Spectrum Pharmaceuticals has a consensus rating of “Buy” and an average price target of $21.40.

Spectrum Pharmaceuticals (SPPI) opened at $18.63 on Tuesday. Spectrum Pharmaceuticals has a twelve month low of $3.88 and a twelve month high of $21.95. The company has a current ratio of 5.04, a quick ratio of 4.89 and a debt-to-equity ratio of 0.33.

Several institutional investors and hedge funds have recently made changes to their positions in SPPI. TIAA CREF Investment Management LLC boosted its stake in shares of Spectrum Pharmaceuticals by 21.6% during the first quarter. TIAA CREF Investment Management LLC now owns 254,267 shares of the biotechnology company’s stock worth $1,653,000 after buying an additional 45,108 shares during the period. Vanguard Group Inc. boosted its stake in shares of Spectrum Pharmaceuticals by 13.8% during the first quarter. Vanguard Group Inc. now owns 7,208,723 shares of the biotechnology company’s stock worth $46,858,000 after buying an additional 874,871 shares during the period. Geode Capital Management LLC boosted its stake in shares of Spectrum Pharmaceuticals by 6.0% during the first quarter. Geode Capital Management LLC now owns 545,118 shares of the biotechnology company’s stock worth $3,543,000 after buying an additional 30,649 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Spectrum Pharmaceuticals by 12.2% during the first quarter. Dimensional Fund Advisors LP now owns 2,211,245 shares of the biotechnology company’s stock worth $14,373,000 after buying an additional 240,614 shares during the period. Finally, Bank of America Corp DE lifted its position in Spectrum Pharmaceuticals by 52.3% in the first quarter. Bank of America Corp DE now owns 231,750 shares of the biotechnology company’s stock valued at $1,507,000 after purchasing an additional 79,619 shares during the period. Institutional investors and hedge funds own 71.88% of the company’s stock.

WARNING: This news story was first posted by American Banking News and is the property of of American Banking News. If you are accessing this news story on another domain, it was copied illegally and reposted in violation of US & international trademark & copyright laws. The legal version of this news story can be viewed at https://www.americanbankingnews.com/2017/12/05/spectrum-pharmaceuticals-inc-sppi-expected-to-announce-quarterly-sales-of-33-05-million-2.html.

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).

Get a free copy of the Zacks research report on Spectrum Pharmaceuticals (SPPI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Spectrum Pharmaceuticals (NASDAQ:SPPI)

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.