Wells Fargo & Company MN boosted its stake in shares of Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) by 2.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 973,812 shares of the biotechnology company’s stock after buying an additional 24,522 shares during the period. Wells Fargo & Company MN owned approximately 0.97% of Spectrum Pharmaceuticals worth $18,454,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the stock. Jane Street Group LLC bought a new stake in shares of Spectrum Pharmaceuticals in the 3rd quarter worth $152,000. Los Angeles Capital Management & Equity Research Inc. bought a new stake in shares of Spectrum Pharmaceuticals in the 3rd quarter worth $177,000. Campbell & CO Investment Adviser LLC bought a new stake in shares of Spectrum Pharmaceuticals in the 3rd quarter worth $192,000. Crossmark Global Holdings Inc. bought a new stake in shares of Spectrum Pharmaceuticals in the 3rd quarter worth $212,000. Finally, State of Alaska Department of Revenue increased its holdings in shares of Spectrum Pharmaceuticals by 22.5% in the 4th 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 in the last quarter. 78.89% of the stock is owned by institutional investors.
Shares of Spectrum Pharmaceuticals, Inc. (NASDAQ SPPI) opened at $18.67 on Monday. Spectrum Pharmaceuticals, Inc. has a fifty-two week low of $5.47 and a fifty-two week high of $23.50. The company has a market capitalization of $1,917.68, a price-to-earnings ratio of -17.61 and a beta of 1.59.
A number of research firms have commented on SPPI. Zacks Investment Research raised Spectrum Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Friday, January 12th. 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. HC Wainwright lifted their target price on Spectrum Pharmaceuticals to $33.00 and gave the stock a “buy” rating in a report on Monday, February 5th. Finally, BidaskClub lowered Spectrum Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 3rd. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Spectrum Pharmaceuticals currently has an average rating of “Buy” and a consensus price target of $25.20.
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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).
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