HC Wainwright Boosts Spectrum Pharmaceuticals (SPPI) Price Target to $33.00

Spectrum Pharmaceuticals (NASDAQ:SPPI) had its target price raised by equities researchers at HC Wainwright to $33.00 in a research report issued to clients and investors on Monday. The firm presently has a “buy” rating on the biotechnology company’s stock. HC Wainwright’s price objective would suggest a potential upside of 53.49% from the stock’s current price.

Other analysts have also issued reports about the stock. B. Riley initiated coverage on shares of Spectrum Pharmaceuticals in a research report on Monday, December 18th. They set a “buy” rating and a $26.00 price target for the company. Guggenheim initiated coverage on shares of Spectrum Pharmaceuticals in a research report on Monday, October 23rd. They set a “buy” rating and a $32.00 price target for the company. Jefferies Group upped their price target on shares of Spectrum Pharmaceuticals to $25.00 and gave the company a “buy” rating in a research report on Friday, October 20th. BidaskClub lowered shares of Spectrum Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Finally, Zacks Investment Research upgraded shares of Spectrum Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, January 12th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $22.83.

Shares of Spectrum Pharmaceuticals (NASDAQ SPPI) opened at $21.50 on Monday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 4.89 and a current ratio of 5.04. Spectrum Pharmaceuticals has a 1 year low of $4.86 and a 1 year high of $23.50. The stock has a market cap of $2,070.62, a PE ratio of -22.22 and a beta of 1.64.

Spectrum Pharmaceuticals (NASDAQ:SPPI) last posted its quarterly earnings results 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). Spectrum Pharmaceuticals had a negative net margin of 58.94% and a negative return on equity of 29.73%. The business had revenue of $36.40 million for the quarter, compared to analysts’ expectations of $33.27 million. During the same quarter in the previous year, the company earned ($0.07) earnings per share. The business’s quarterly revenue was up 9.0% on a year-over-year basis. equities research analysts anticipate that Spectrum Pharmaceuticals will post -1.06 EPS for the current year.

Several institutional investors have recently bought and sold shares of the company. Comerica Bank boosted its holdings in shares of Spectrum Pharmaceuticals by 15.3% during the fourth quarter. Comerica Bank now owns 95,135 shares of the biotechnology company’s stock worth $2,079,000 after purchasing an additional 12,613 shares during the period. Chicago Equity Partners LLC purchased a new stake in shares of Spectrum Pharmaceuticals during the fourth quarter worth about $757,000. Fisher Asset Management LLC boosted its holdings in shares of Spectrum Pharmaceuticals by 11.7% during the fourth quarter. Fisher Asset Management LLC now owns 200,252 shares of the biotechnology company’s stock worth $3,795,000 after purchasing an additional 21,043 shares during the period. Texas Permanent School Fund boosted its holdings in shares of Spectrum Pharmaceuticals by 10.3% during the fourth quarter. Texas Permanent School Fund now owns 61,240 shares of the biotechnology company’s stock worth $1,160,000 after purchasing an additional 5,719 shares during the period. Finally, State of Alaska Department of Revenue boosted its holdings in shares of Spectrum Pharmaceuticals by 22.5% during the fourth quarter. State of Alaska Department of Revenue now owns 18,078 shares of the biotechnology company’s stock worth $342,000 after purchasing an additional 3,320 shares during the period. Institutional investors own 71.77% of the company’s stock.

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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).

Analyst Recommendations for Spectrum Pharmaceuticals (NASDAQ:SPPI)

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