Spectrum Pharmaceuticals Inc. (SPPI) Trading 3.2% Higher
Spectrum Pharmaceuticals Inc. (NASDAQ:SPPI)’s share price traded up 3.2% during trading on Wednesday . The stock traded as high as $6.73 and last traded at $6.72, with a volume of 194,906 shares changing hands. The stock had previously closed at $6.51.
Several equities analysts have recently commented on the company. Zacks Investment Research lowered Spectrum Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Thursday, May 12th. FBR & Co reiterated a “buy” rating on shares of Spectrum Pharmaceuticals in a research report on Thursday, July 14th. Finally, Jefferies Group reiterated a “hold” rating and set a $6.00 price objective (up from $5.00) on shares of Spectrum Pharmaceuticals in a research 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 presently has an average rating of “Buy” and a consensus target price of $8.20.
The company’s market cap is $448.68 million. The stock has a 50-day moving average of $6.69 and a 200-day moving average of $6.21.
Spectrum Pharmaceuticals (NASDAQ:SPPI) last released its quarterly earnings results on Thursday, May 5th. The biotechnology company reported ($0.14) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.32) by $0.18. The company had revenue of $43.90 million for the quarter, compared to the consensus estimate of $28.83 million. During the same period in the prior year, the firm posted ($0.07) EPS. The business’s revenue for the quarter was up 13.7% on a year-over-year basis. Equities research analysts predict that Spectrum Pharmaceuticals Inc. will post ($1.05) earnings per share for the current year.
A hedge fund recently raised its stake in Spectrum Pharmaceuticals stock. Russell Frank Co raised its stake in shares of Spectrum Pharmaceuticals Inc. (NASDAQ:SPPI) by 293.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. 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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