Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) has received a consensus recommendation of “Buy” from the eight analysts that are covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $28.00.

A number of research firms have commented on SPPI. Jefferies Group lifted their target price on Spectrum Pharmaceuticals from $9.00 to $13.00 and gave the stock a “buy” rating in a report on Monday, September 25th. Zacks Investment Research lowered Spectrum Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Wednesday, October 4th. HC Wainwright reissued a “buy” rating and issued a $29.00 target price (up previously from $20.00) on shares of Spectrum Pharmaceuticals in a report on Wednesday, October 18th. Guggenheim began coverage on Spectrum Pharmaceuticals in a report on Monday, October 23rd. They issued a “buy” rating and a $32.00 target price for the company. Finally, B. Riley began coverage on Spectrum Pharmaceuticals in a report on Monday, December 18th. They issued a “buy” rating and a $26.00 target price for the company.

Spectrum Pharmaceuticals (SPPI) traded up $0.12 during mid-day trading on Tuesday, reaching $19.42. The company had a trading volume of 557,600 shares, compared to its average volume of 907,544. Spectrum Pharmaceuticals has a one year low of $4.31 and a one year 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. The company has a market cap of $1,910.00, a price-to-earnings ratio of -19.42 and a beta of 1.63.

Spectrum Pharmaceuticals (NASDAQ:SPPI) last posted its quarterly earnings data on Thursday, November 2nd. The biotechnology company reported ($0.22) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.16) by ($0.06). Spectrum Pharmaceuticals had a negative net margin of 58.94% and a negative return on equity of 29.73%. The company had revenue of $36.40 million for the quarter, compared to the consensus estimate of $33.27 million. During the same period last year, the business earned ($0.07) EPS. The firm’s quarterly revenue was up 9.0% on a year-over-year basis. equities research analysts predict that Spectrum Pharmaceuticals will post -1.06 earnings per share for the current year.

Several hedge funds have recently added to or reduced their stakes in SPPI. Piedmont Investment Advisors LLC purchased a new position in shares of Spectrum Pharmaceuticals in the 2nd quarter worth $114,000. Jane Street Group LLC purchased a new position in shares of Spectrum Pharmaceuticals in the 3rd quarter worth $152,000. BNP Paribas Arbitrage SA boosted its stake in shares of 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 during the last quarter. Los Angeles Capital Management & Equity Research Inc. purchased a new position in shares of Spectrum Pharmaceuticals in the 3rd quarter worth $177,000. Finally, Campbell & CO Investment Adviser LLC purchased a new position in shares of Spectrum Pharmaceuticals in the 3rd quarter worth $192,000. Hedge funds and other institutional investors own 71.87% of the company’s stock.

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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).

Analyst Recommendations for Spectrum Pharmaceuticals (NASDAQ:SPPI)

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