Spectrum Pharmaceuticals Inc. (SPPI) Trading Up 2%
Spectrum Pharmaceuticals Inc. (NASDAQ:SPPI)’s share price was up 2% during trading on Monday . The stock traded as high as $6.15 and last traded at $6.03, with a volume of 339,313 shares traded. The stock had previously closed at $5.91.
Several equities analysts have commented on SPPI shares. Jefferies Group reissued a “hold” rating and set a $6.00 target price (up from $5.00) on shares of Spectrum Pharmaceuticals in a research report on Monday, May 9th. FBR & Co reissued a “buy” rating on shares of Spectrum Pharmaceuticals in a research report on Wednesday, August 10th. Finally, Zacks Investment Research raised shares of 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. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Spectrum Pharmaceuticals currently has an average rating of “Buy” and a consensus price target of $8.75.
The stock’s 50 day moving average is $6.55 and its 200 day moving average is $6.37. The firm’s market cap is $413.51 million.
Spectrum Pharmaceuticals (NASDAQ:SPPI) last announced its quarterly earnings results on Tuesday, August 9th. The biotechnology company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.29) by $0.24. During the same period last year, the firm earned ($0.01) EPS. The firm earned $33.90 million during the quarter, compared to analyst estimates of $30.88 million. Spectrum Pharmaceuticals’s quarterly revenue was down 24.6% on a year-over-year basis. On average, analysts predict that Spectrum Pharmaceuticals Inc. will post ($1.11) EPS for the current year.
A hedge fund recently raised its stake in Spectrum Pharmaceuticals stock. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Spectrum Pharmaceuticals Inc. (NASDAQ:SPPI) by 61.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 613,525 shares of the biotechnology company’s stock after buying an additional 233,225 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.93% of Spectrum Pharmaceuticals worth $3,700,000 at the end of the most recent quarter.
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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