Spectrum Pharmaceuticals Inc. (NASDAQ:SPPI) shot up 5.4% during trading on Thursday . The company traded as high as $6.03 and last traded at $6.03, with a volume of 635,208 shares traded. The stock had previously closed at $5.72.

A number of research firms recently commented on SPPI. FBR & Co reiterated a “buy” rating on shares of Spectrum Pharmaceuticals in a research report on Wednesday. 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 research 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 research report on Monday, May 9th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $8.20.

The company’s market cap is $387.68 million. The firm has a 50 day moving average of $6.69 and a 200 day moving average of $6.34.

Spectrum Pharmaceuticals (NASDAQ:SPPI) last announced its quarterly earnings results on Tuesday, August 9th. The biotechnology company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.29) by $0.24. The company had revenue of $33.90 million for the quarter, compared to analyst estimates of $30.88 million. Spectrum Pharmaceuticals’s revenue for the quarter was down 24.6% on a year-over-year basis. During the same period in the prior year, the business posted ($0.01) earnings per share. Equities analysts predict that Spectrum Pharmaceuticals Inc. will post ($1.12) EPS 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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