Spectrum Pharmaceuticals, Inc. (SPPI) Expected to Announce Quarterly Sales of $33.05 Million
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.
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.
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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