Spectrum Pharmaceuticals Inc. (SPPI) Trading Down 3.9%
Spectrum Pharmaceuticals Inc. (NASDAQ:SPPI) shares fell 3.9% during mid-day trading on Tuesday . The stock traded as low as $6.32 and last traded at $6.33, with a volume of 344,010 shares traded. The stock had previously closed at $6.59.
Several research firms have recently issued reports on SPPI. FBR & Co restated a “buy” rating on shares of Spectrum Pharmaceuticals in a report on Thursday, July 14th. Jefferies Group restated a “hold” rating and set a $6.00 price objective (up previously from $5.00) on shares of Spectrum Pharmaceuticals in a report on Monday, May 9th. Finally, Zacks Investment Research downgraded shares of Spectrum Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Thursday, May 12th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $8.20.
The firm’s market cap is $427.04 million. The firm’s 50 day moving average price is $6.80 and its 200-day moving average price is $6.17.
Spectrum Pharmaceuticals (NASDAQ:SPPI) last announced its earnings results on Thursday, May 5th. The biotechnology company reported ($0.14) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.32) by $0.18. During the same quarter in the previous year, the company posted ($0.07) EPS. The business had revenue of $43.90 million for the quarter, compared to analyst estimates of $28.83 million. The business’s revenue for the quarter was up 13.7% compared to the same quarter last year. Equities analysts expect 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 raised its position in Spectrum Pharmaceuticals Inc. (NASDAQ:SPPI) by 293.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (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 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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