Spectrum Pharmaceuticals Inc. (NASDAQ:SPPI) shares were down 15.6% during mid-day trading on Wednesday . The stock traded as low as $5.91 and last traded at $5.97, with a volume of 2,237,770 shares traded. The stock had previously closed at $7.07.

Several research analysts recently issued reports on SPPI shares. FBR & Co reiterated a “buy” rating on shares of Spectrum Pharmaceuticals in a research note on Thursday, July 14th. Jefferies Group reiterated a “hold” rating and issued a $6.00 price target (up from $5.00) on shares of Spectrum Pharmaceuticals in a research note on Monday, May 9th. Finally, Zacks Investment Research lowered shares of Spectrum Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Thursday, May 12th. Two equities research 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 price target of $8.20.

The stock’s market cap is $375.21 million. The company’s 50 day moving average is $6.71 and its 200 day moving average is $6.34.

Spectrum Pharmaceuticals (NASDAQ:SPPI) last issued its earnings results on Tuesday, August 9th. The biotechnology company reported ($0.05) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.29) by $0.24. The company had revenue of $33.90 million for the quarter, compared to analysts’ expectations of $30.88 million. The firm’s revenue for the quarter was down 24.6% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.01) earnings per share. On average, analysts predict that Spectrum Pharmaceuticals Inc. will post ($1.10) earnings per share for the current fiscal year.

Spectrum Pharmaceuticals, Inc is a biotechnology company. The Company operates through developing and commercializing oncology and hematology drug products segment. It has approximately six approved oncology/hematology products that target different types of non-Hodgkin’s lymphoma (NHL), metastatic colorectal cancer, acute lymphoblastic leukemia (ALL) and multiple myeloma (MM).

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