Jefferies Group Comments on Spectrum Pharmaceuticals, Inc.’s FY2017 Earnings (SPPI)

Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) – Equities researchers at Jefferies Group lifted their FY2017 earnings per share estimates for shares of Spectrum Pharmaceuticals in a note issued to investors on Tuesday. Jefferies Group analyst M. Andrews now expects that the biotechnology company will post earnings per share of ($0.87) for the year, up from their previous forecast of ($1.03). Jefferies Group has a “Buy” rating and a $25.00 price target on the stock. Jefferies Group also issued estimates for Spectrum Pharmaceuticals’ Q4 2017 earnings at ($0.21) EPS, FY2018 earnings at ($0.91) EPS, FY2019 earnings at ($0.69) EPS and FY2020 earnings at $0.16 EPS.

A number of other equities research analysts also recently issued reports on the company. Guggenheim initiated coverage on Spectrum Pharmaceuticals in a research report on Monday, October 23rd. They set a “buy” rating and a $32.00 price objective on the stock. HC Wainwright restated a “buy” rating and set a $29.00 price objective on shares of Spectrum Pharmaceuticals in a research report on Monday, December 18th. Zacks Investment Research downgraded Spectrum Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday, January 2nd. BidaskClub upgraded Spectrum Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Friday, January 26th. Finally, B. Riley initiated coverage on Spectrum Pharmaceuticals in a report on Monday, December 18th. They issued a “buy” rating and a $26.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $22.83.

Shares of Spectrum Pharmaceuticals (SPPI) opened at $21.28 on Thursday. Spectrum Pharmaceuticals has a 52-week low of $5.47 and a 52-week high of $23.50. The company has a debt-to-equity ratio of 0.33, a current ratio of 5.04 and a quick ratio of 4.89.

Hedge funds and other institutional investors have recently modified their holdings of the company. Fisher Asset Management LLC purchased a new stake in shares of Spectrum Pharmaceuticals in the third quarter worth approximately $2,521,000. JPMorgan Chase & Co. raised its holdings in shares of Spectrum Pharmaceuticals by 2,435.6% in the third quarter. JPMorgan Chase & Co. now owns 52,741 shares of the biotechnology company’s stock worth $712,000 after buying an additional 50,661 shares during the period. Schwab Charles Investment Management Inc. raised its holdings in shares of Spectrum Pharmaceuticals by 16.2% in the third quarter. Schwab Charles Investment Management Inc. now owns 505,909 shares of the biotechnology company’s stock worth $7,119,000 after buying an additional 70,487 shares during the period. SG Americas Securities LLC raised its holdings in shares of Spectrum Pharmaceuticals by 153.3% in the third quarter. SG Americas Securities LLC now owns 45,871 shares of the biotechnology company’s stock worth $645,000 after buying an additional 27,763 shares during the period. Finally, Prudential Financial Inc. raised its holdings in shares of Spectrum Pharmaceuticals by 7.5% in the third quarter. Prudential Financial Inc. now owns 125,141 shares of the biotechnology company’s stock worth $1,761,000 after buying an additional 8,745 shares during the period. Hedge funds and other institutional investors own 71.65% 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).

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

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