Spectrum Pharmaceuticals Inc. (SPPI) Trading Up 3.8%
Shares of Spectrum Pharmaceuticals Inc. (NASDAQ:SPPI) were up 3.8% during trading on Wednesday . The stock traded as high as $6.51 and last traded at $6.51, with a volume of 167,123 shares changing hands. The stock had previously closed at $6.27.
Several analysts recently commented on SPPI shares. FBR & Co reiterated a “buy” rating on shares of Spectrum Pharmaceuticals in a report on Thursday, July 14th. Zacks Investment Research upgraded Spectrum Pharmaceuticals from a “hold” rating to a “buy” rating and set a $7.00 target price on the stock in a report on Tuesday, June 28th. Finally, Jefferies Group reiterated a “hold” rating and issued a $6.00 target price (up from $5.00) on shares of Spectrum Pharmaceuticals in a report on Monday, May 9th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $8.20.
The firm’s market cap is $425.07 million. The stock’s 50-day moving average is $6.82 and its 200 day moving average is $6.17.
Spectrum Pharmaceuticals (NASDAQ:SPPI) last announced its quarterly earnings data on Thursday, May 5th. The biotechnology company reported ($0.14) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.32) by $0.18. During the same quarter in the previous year, the firm posted ($0.07) EPS. The company had revenue of $43.90 million for the quarter, compared to analysts’ expectations of $28.83 million. The firm’s quarterly revenue was up 13.7% compared to the same quarter last year. On average, equities research analysts anticipate that Spectrum Pharmaceuticals Inc. will post ($1.05) EPS for the current year.
A hedge fund recently raised its stake in Spectrum Pharmaceuticals stock. Russell Frank Co increased its position in shares of Spectrum Pharmaceuticals Inc. (NASDAQ:SPPI) by 293.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 848,145 shares of the biotechnology company’s stock after buying an additional 632,445 shares during the period. Russell Frank Co owned about 1.29% of Spectrum Pharmaceuticals worth $5,208,000 at the end of the most recent reporting period.
Spectrum Pharmaceuticals, Inc is a biotechnology Company. The Company is engaged in commercial and drug development operations with a focus on hematology and oncology. The Company is engaged in acquiring, developing and commercializing the pipeline of late-stage clinical and commercial drug compounds.
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