Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) – Equities research analysts at Jefferies Group reduced their FY2021 earnings per share estimates for shares of Spectrum Pharmaceuticals in a research report issued on Tuesday. Jefferies Group analyst M. Andrews now anticipates that the biotechnology company will post earnings per share of $1.54 for the year, down from their prior estimate of $1.74. Jefferies Group has a “Buy” rating and a $25.00 price objective on the stock. Jefferies Group also issued estimates for Spectrum Pharmaceuticals’ FY2022 earnings at $1.88 EPS.
SPPI has been the subject of a number of other reports. Zacks Investment Research raised Spectrum Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Friday, January 12th. B. Riley assumed coverage on Spectrum Pharmaceuticals in a report on Monday, December 18th. They issued a “buy” rating and a $26.00 price objective for the company. HC Wainwright increased their price objective on Spectrum Pharmaceuticals to $33.00 and gave the stock a “buy” rating in a report on Monday, February 5th. BidaskClub lowered Spectrum Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 3rd. Finally, Guggenheim started coverage on Spectrum Pharmaceuticals in a research note on Monday, October 23rd. They set a “buy” rating and a $32.00 price target for the company. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $22.83.
Hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. boosted its stake in shares of Spectrum Pharmaceuticals by 33.5% during the 4th quarter. BlackRock Inc. now owns 15,989,930 shares of the biotechnology company’s stock worth $303,008,000 after acquiring an additional 4,012,596 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Spectrum Pharmaceuticals by 1.2% during the 2nd quarter. Vanguard Group Inc. now owns 7,292,704 shares of the biotechnology company’s stock worth $54,331,000 after acquiring an additional 83,981 shares in the last quarter. State Street Corp boosted its stake in shares of Spectrum Pharmaceuticals by 28.3% during the 2nd quarter. State Street Corp now owns 3,020,563 shares of the biotechnology company’s stock worth $22,507,000 after acquiring an additional 666,605 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Spectrum Pharmaceuticals by 21.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,674,679 shares of the biotechnology company’s stock valued at $19,926,000 after purchasing an additional 463,434 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Spectrum Pharmaceuticals by 14.1% in the fourth quarter. Bank of New York Mellon Corp now owns 1,048,890 shares of the biotechnology company’s stock valued at $19,877,000 after purchasing an additional 129,556 shares in the last quarter. 71.65% of the stock is owned by hedge funds and other institutional investors.
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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).
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