HC Wainwright reiterated their buy rating on shares of Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) in a research report report published on Wednesday morning, Marketbeat Ratings reports.
Several other analysts have also recently weighed in on the company. Jefferies Group LLC raised their price target on Spectrum Pharmaceuticals from $13.00 to $18.00 and gave the company a buy rating in a report on Monday, October 9th. Zacks Investment Research raised Spectrum Pharmaceuticals from a sell rating to a hold rating in a report on Wednesday, July 5th. ValuEngine raised Spectrum Pharmaceuticals from a sell rating to a hold rating in a report on Thursday, August 17th. Finally, BidaskClub cut Spectrum Pharmaceuticals from a strong-buy rating to a buy rating in a report on Monday, July 31st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of Buy and an average price target of $15.00.
Spectrum Pharmaceuticals (SPPI) traded up 4.08% on Wednesday, reaching $19.37. The company’s stock had a trading volume of 3,853,713 shares. Spectrum Pharmaceuticals has a 52-week low of $3.21 and a 52-week high of $21.95. The stock’s 50 day moving average price is $12.49 and its 200 day moving average price is $8.60. The firm’s market cap is $1.64 billion.
Spectrum Pharmaceuticals (NASDAQ:SPPI) last released its quarterly earnings results on Thursday, August 3rd. The biotechnology company reported ($0.26) earnings per share for the quarter, beating the consensus estimate of ($0.27) by $0.01. Spectrum Pharmaceuticals had a negative return on equity of 30.95% and a negative net margin of 59.33%. The firm had revenue of $34.30 million for the quarter, compared to analysts’ expectations of $30.50 million. During the same quarter last year, the firm posted ($0.35) EPS. The company’s revenue was up 1.0% compared to the same quarter last year. Equities research analysts expect that Spectrum Pharmaceuticals will post ($1.06) earnings per share for the current fiscal year.
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Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of Spectrum Pharmaceuticals by 1.2% during the 2nd quarter. Vanguard Group Inc. now owns 7,292,704 shares of the biotechnology company’s stock valued at $54,331,000 after buying an additional 83,981 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of Spectrum Pharmaceuticals by 6.9% during the 2nd quarter. Renaissance Technologies LLC now owns 6,071,817 shares of the biotechnology company’s stock valued at $45,235,000 after buying an additional 392,017 shares in the last quarter. State Street Corp raised its holdings in shares of Spectrum Pharmaceuticals by 28.3% during the 2nd quarter. State Street Corp now owns 3,020,563 shares of the biotechnology company’s stock valued at $22,507,000 after buying an additional 666,605 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Spectrum Pharmaceuticals by 21.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,674,679 shares of the biotechnology company’s stock valued at $19,926,000 after buying an additional 463,434 shares in the last quarter. Finally, Macquarie Group Ltd. raised its holdings in shares of Spectrum Pharmaceuticals by 9.4% during the 2nd quarter. Macquarie Group Ltd. now owns 2,247,493 shares of the biotechnology company’s stock valued at $16,744,000 after buying an additional 193,883 shares in the last quarter. 66.09% of the stock is currently owned by institutional investors.
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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