RBC Capital Markets set a $10.00 target price on Spectrum Pharmaceuticals Inc. (NASDAQ:SPPI) in a research note released on Thursday morning. The brokerage currently has a a buy rating on the biotechnology company’s stock.

Several other equities research analysts have also commented on SPPI. Zacks Investment Research upgraded Spectrum Pharmaceuticals from a hold rating to a buy rating and set a $7.00 price objective for the company in a research note on Tuesday, June 28th. FBR & Co restated a buy rating on shares of Spectrum Pharmaceuticals in a research note on Wednesday, August 10th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Spectrum Pharmaceuticals has an average rating of Buy and an average price target of $9.17.

Shares of Spectrum Pharmaceuticals (NASDAQ:SPPI) opened at 4.72 on Thursday. The company’s market cap is $323.67 million. The firm’s 50-day moving average price is $5.84 and its 200 day moving average price is $6.51. Spectrum Pharmaceuticals has a 52 week low of $4.14 and a 52 week high of $7.74.

Spectrum Pharmaceuticals (NASDAQ:SPPI) last posted its quarterly earnings data on Tuesday, August 9th. The biotechnology company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.29) by $0.24. The firm earned $33.90 million during the quarter, compared to analyst estimates of $30.88 million. Spectrum Pharmaceuticals had a negative return on equity of 11.24% and a negative net margin of 36.04%. Spectrum Pharmaceuticals’s revenue was down 24.6% on a year-over-year basis. During the same period in the prior year, the business posted ($0.01) EPS. On average, equities research analysts forecast that Spectrum Pharmaceuticals will post ($1.11) EPS for the current year.

Large investors have recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. raised its stake in shares of Spectrum Pharmaceuticals by 0.5% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 36,915 shares of the biotechnology company’s stock worth $243,000 after buying an additional 196 shares during the last quarter. Louisiana State Employees Retirement System raised its stake in shares of Spectrum Pharmaceuticals by 3.1% in the second quarter. Louisiana State Employees Retirement System now owns 27,000 shares of the biotechnology company’s stock worth $177,000 after buying an additional 800 shares during the last quarter. California Public Employees Retirement System raised its stake in shares of Spectrum Pharmaceuticals by 0.4% in the second quarter. California Public Employees Retirement System now owns 179,800 shares of the biotechnology company’s stock worth $1,181,000 after buying an additional 800 shares during the last quarter. Profund Advisors LLC raised its stake in shares of Spectrum Pharmaceuticals by 5.2% in the second quarter. Profund Advisors LLC now owns 16,381 shares of the biotechnology company’s stock worth $108,000 after buying an additional 817 shares during the last quarter. Finally, Comerica Bank raised its stake in shares of Spectrum Pharmaceuticals by 1.7% in the second quarter. Comerica Bank now owns 60,743 shares of the biotechnology company’s stock worth $429,000 after buying an additional 1,036 shares during the last quarter. Institutional investors and hedge funds own 68.78% of the company’s stock.

Spectrum Pharmaceuticals Company Profile

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).

5 Day Chart for NASDAQ:SPPI

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