Congress Asset Management Co. MA lessened its stake in Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) by 9.1% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 133,733 shares of the biotechnology company’s stock after selling 13,465 shares during the quarter. Congress Asset Management Co. MA owned 0.12% of Spectrum Pharmaceuticals worth $1,109,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. TRUE Private Wealth Advisors bought a new stake in shares of Spectrum Pharmaceuticals in the 2nd quarter worth approximately $34,000. Quantamental Technologies LLC boosted its position in Spectrum Pharmaceuticals by 22.5% during the second quarter. Quantamental Technologies LLC now owns 9,563 shares of the biotechnology company’s stock valued at $82,000 after purchasing an additional 1,757 shares during the last quarter. Flinton Capital Management LLC boosted its position in Spectrum Pharmaceuticals by 15.3% during the second quarter. Flinton Capital Management LLC now owns 11,968 shares of the biotechnology company’s stock valued at $103,000 after purchasing an additional 1,584 shares during the last quarter. Fox Run Management L.L.C. acquired a new stake in Spectrum Pharmaceuticals during the third quarter valued at $106,000. Finally, Riverhead Capital Management LLC boosted its position in Spectrum Pharmaceuticals by 14.8% during the second quarter. Riverhead Capital Management LLC now owns 13,200 shares of the biotechnology company’s stock valued at $114,000 after purchasing an additional 1,700 shares during the last quarter. Institutional investors and hedge funds own 73.22% of the company’s stock.
Shares of SPPI traded up $0.68 on Friday, hitting $8.62. The company’s stock had a trading volume of 33,232 shares, compared to its average volume of 645,393. The company has a market capitalization of $929.93 million, a PE ratio of -8.53 and a beta of 2.57. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.37 and a quick ratio of 5.37. Spectrum Pharmaceuticals, Inc. has a fifty-two week low of $6.22 and a fifty-two week high of $14.65. The company has a 50 day moving average price of $8.13 and a 200 day moving average price of $8.19.
Spectrum Pharmaceuticals (NASDAQ:SPPI) last announced its earnings results on Thursday, November 7th. The biotechnology company reported ($0.23) EPS for the quarter, topping the consensus estimate of ($0.31) by $0.08. During the same period last year, the company earned ($0.24) earnings per share. On average, equities analysts forecast that Spectrum Pharmaceuticals, Inc. will post -1.21 EPS for the current year.
A number of analysts recently issued reports on the company. B. Riley set a $18.00 price objective on Spectrum Pharmaceuticals and gave the company a “buy” rating in a research report on Friday, August 23rd. Zacks Investment Research raised Spectrum Pharmaceuticals from a “hold” rating to a “buy” rating and set a $8.50 price target for the company in a research report on Thursday, October 17th. HC Wainwright reaffirmed a “buy” rating on shares of Spectrum Pharmaceuticals in a research report on Friday, October 25th. ValuEngine lowered Spectrum Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Monday, September 30th. Finally, BidaskClub lowered Spectrum Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the stock. Spectrum Pharmaceuticals currently has a consensus rating of “Buy” and a consensus target price of $20.92.
About Spectrum Pharmaceuticals
Spectrum Pharmaceuticals, Inc develops and commercializes oncology and hematology drug products. The company offers KHAPZORY, a novel folate analog and the pharmacologically active levo-isomer of d, and 1-leucovorin; FOLOTYN, a folate analogue metabolic inhibitor for peripheral T-cell lymphoma (PTCL); ZEVALIN injection to treat non-Hodgkin's lymphoma; MARQIBO for adult patients with Philadelphia chromosome-negative acute lymphoblastic leukemia; BELEODAQ, a histone deacytelase, or HDAC, inhibitor for the treatment of patients with relapsed or refractory PTCL; and EVOMELA for use as a conditioning treatment prior to autologous stem cell transplant in multiple myeloma patients.
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