Spectrum Pharmaceuticals Inc. (NASDAQ:SPPI)‘s stock had its “buy” rating reaffirmed by HC Wainwright in a research report issued on Friday. They presently have a $10.00 price target on the biotechnology company’s stock. HC Wainwright’s price target indicates a potential upside of 111.86% from the stock’s previous close.

Other analysts have also recently issued reports about the company. FBR & Co reissued a “buy” rating on shares of Spectrum Pharmaceuticals in a report on Thursday, September 15th. RBC Capital Markets set a $10.00 price target on Spectrum Pharmaceuticals and gave the stock a “buy” rating in a report on Thursday, September 15th. Finally, Zacks Investment Research raised Spectrum Pharmaceuticals from a “hold” rating to a “buy” rating and set a $7.00 price target for the company in a report on Tuesday, June 28th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $9.17.

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

Spectrum Pharmaceuticals (NASDAQ:SPPI) last released its quarterly earnings results on Tuesday, August 9th. The biotechnology company reported ($0.05) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.29) by $0.24. The business earned $33.90 million during the quarter, compared to analysts’ expectations of $30.88 million. Spectrum Pharmaceuticals had a negative return on equity of 11.24% and a negative net margin of 36.04%. The firm’s revenue for the quarter was down 24.6% compared to the same quarter last year. During the same period last year, the firm posted ($0.01) EPS. Equities analysts predict that Spectrum Pharmaceuticals will post ($1.11) earnings per share for the current fiscal year.

A number of institutional investors have recently made changes to their positions in the stock. Paradigm Asset Management Co. LLC bought a new position in shares of Spectrum Pharmaceuticals during the second quarter valued at $101,000. Profund Advisors LLC raised its position 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 valued at $108,000 after buying an additional 817 shares during the last quarter. Acrospire Investment Management LLC raised its position in shares of Spectrum Pharmaceuticals by 707.5% in the second quarter. Acrospire Investment Management LLC now owns 17,764 shares of the biotechnology company’s stock valued at $117,000 after buying an additional 15,564 shares during the last quarter. BNP Paribas Arbitrage SA raised its position in shares of Spectrum Pharmaceuticals by 122.5% in the second quarter. BNP Paribas Arbitrage SA now owns 19,118 shares of the biotechnology company’s stock valued at $126,000 after buying an additional 10,527 shares during the last quarter. Finally, Pacad Investment Ltd. raised its position in shares of Spectrum Pharmaceuticals by 10.2% in the second quarter. Pacad Investment Ltd. now owns 24,753 shares of the biotechnology company’s stock valued at $163,000 after buying an additional 2,300 shares during the last quarter. 68.78% of the stock is owned by hedge funds and other institutional investors.

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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