Spectrum Pharmaceuticals (NASDAQ:SPPI) Coverage Initiated by Analysts at StockNews.com

StockNews.com initiated coverage on shares of Spectrum Pharmaceuticals (NASDAQ:SPPIGet Rating) in a research note published on Monday morning. The brokerage issued a sell rating on the biotechnology company’s stock.

Several other analysts have also recently issued reports on SPPI. B. Riley cut shares of Spectrum Pharmaceuticals from a buy rating to a neutral rating and cut their price target for the company from $1.50 to $1.00 in a report on Wednesday, November 16th. JMP Securities restated a buy rating and set a $4.00 price target on shares of Spectrum Pharmaceuticals in a research report on Friday, September 23rd. Finally, HC Wainwright lowered their price target on shares of Spectrum Pharmaceuticals from $12.00 to $9.00 and set a buy rating for the company in a research report on Tuesday, September 20th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of Hold and an average target price of $4.67.

Spectrum Pharmaceuticals Stock Performance

Spectrum Pharmaceuticals stock opened at $0.41 on Monday. Spectrum Pharmaceuticals has a 1 year low of $0.36 and a 1 year high of $1.81. The firm has a 50 day moving average price of $0.51 and a 200 day moving average price of $0.79. The company has a market cap of $77.75 million, a price-to-earnings ratio of -0.65 and a beta of 2.04.

Hedge Funds Weigh In On Spectrum Pharmaceuticals

Several large investors have recently made changes to their positions in SPPI. KBC Group NV bought a new position in shares of Spectrum Pharmaceuticals during the 1st quarter valued at about $319,000. Sargent Investment Group LLC boosted its position in shares of Spectrum Pharmaceuticals by 2,739.7% during the 1st quarter. Sargent Investment Group LLC now owns 414,600 shares of the biotechnology company’s stock valued at $535,000 after purchasing an additional 400,000 shares in the last quarter. CM Management LLC lifted its stake in Spectrum Pharmaceuticals by 300.0% during the first quarter. CM Management LLC now owns 600,000 shares of the biotechnology company’s stock valued at $774,000 after buying an additional 450,000 shares in the last quarter. WINTON GROUP Ltd purchased a new stake in Spectrum Pharmaceuticals during the first quarter valued at about $35,000. Finally, Acadian Asset Management LLC lifted its stake in Spectrum Pharmaceuticals by 1,355.2% during the first quarter. Acadian Asset Management LLC now owns 421,867 shares of the biotechnology company’s stock valued at $543,000 after buying an additional 392,877 shares in the last quarter. Institutional investors own 31.10% of the company’s stock.

About Spectrum Pharmaceuticals

(Get Rating)

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.

See Also

Receive News & Ratings for Spectrum Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spectrum Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.