Spectrum Pharmaceuticals (NASDAQ:SPPI) Price Target Lowered to $1.50 at B. Riley

Spectrum Pharmaceuticals (NASDAQ:SPPIGet Rating) had its target price decreased by investment analysts at B. Riley from $4.00 to $1.50 in a research note issued on Friday, The Fly reports. B. Riley’s target price would suggest a potential upside of 136.37% from the company’s current price.

A number of other analysts have also commented on the company. JMP Securities reaffirmed a “buy” rating and set a $4.00 price objective on shares of Spectrum Pharmaceuticals in a research note on Tuesday, June 7th. StockNews.com downgraded Spectrum Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Sunday, September 18th. Cantor Fitzgerald restated a “neutral” rating on shares of Spectrum Pharmaceuticals in a report on Wednesday, June 8th. Finally, HC Wainwright lowered their target price on Spectrum Pharmaceuticals from $12.00 to $9.00 and set a “buy” rating for the company in a research note on Tuesday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $4.83.

Spectrum Pharmaceuticals Price Performance

Shares of NASDAQ SPPI opened at $0.63 on Friday. Spectrum Pharmaceuticals has a twelve month low of $0.60 and a twelve month high of $2.47. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.15. The stock has a 50 day moving average of $1.07 and a two-hundred day moving average of $0.96. The stock has a market cap of $119.41 million, a P/E ratio of -0.87 and a beta of 1.86.

Spectrum Pharmaceuticals (NASDAQ:SPPIGet Rating) last announced its quarterly earnings data on Thursday, August 11th. The biotechnology company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.01). On average, research analysts forecast that Spectrum Pharmaceuticals will post -0.54 earnings per share for the current year.

Institutional Trading of Spectrum Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in SPPI. Mirabella Financial Services LLP bought a new stake in shares of Spectrum Pharmaceuticals in the 1st quarter worth $27,000. WINTON GROUP Ltd purchased a new position in shares of Spectrum Pharmaceuticals during the first quarter valued at $35,000. Acadian Asset Management LLC acquired a new stake in Spectrum Pharmaceuticals during the fourth quarter valued at $36,000. BNP Paribas Arbitrage SA boosted its position in Spectrum Pharmaceuticals by 108.3% during the second quarter. BNP Paribas Arbitrage SA now owns 31,652 shares of the biotechnology company’s stock valued at $25,000 after purchasing an additional 16,460 shares during the last quarter. Finally, Journey Strategic Wealth LLC acquired a new stake in Spectrum Pharmaceuticals during the fourth quarter valued at $54,000. Institutional investors own 31.10% of the company’s stock.

Spectrum Pharmaceuticals Company Profile

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Spectrum Pharmaceuticals, Inc, a biopharmaceutical company, develops and commercializes oncology and hematology drug products. The company's products under development include Eflapegrastim, a novel long-acting granulocyte colony-stimulating factor for chemotherapy-induced neutropenia; Poziotinib, a novel irreversible tyrosine kinase inhibitor for non-small cell lung cancer tumors with various mutations; and Anti-CD20-IFNa, an antibody-interferon fusion molecule directed against CD20 that is in Phase I development for the treatment of patients with relapsed or refractory non-Hodgkin's lymphoma, including diffuse large B-cell lymphoma.

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