Spectrum Pharma Price Target Cut to $16.00 (SPPI)
Spectrum Pharma (NASDAQ: SPPI) had its price target decreased by RBC Capital from $19.00 to $16.00 in a research report sent to investors on Wednesday morning. The firm currently has an outperform rating on the stock.
Several other analysts have also recently commented on the stock. Analysts at Credit Suisse cut their price target on shares of Spectrum Pharma from $15.00 to $7.00 in a research note to investors on Wednesday. They now have a neutral rating on the stock. Separately, analysts at WallachBeth downgraded shares of Spectrum Pharma from a buy rating to a sell rating in a research note to investors on Wednesday. They now have a $5.50 price target on the stock, down previously from $20.00. Finally, analysts at Zacks downgraded shares of Spectrum Pharma from a neutral rating to an underperform rating in a research note to investors on Monday, February 11th. They now have a $11.80 price target on the stock.
Four research analysts have rated the stock with a buy rating, and one has given a hold rating to the company’s stock. Spectrum Pharma has an average rating of buy and a consensus target price of $17.60.
Spectrum Pharma (NASDAQ: SPPI) traded down 2.18% during mid-day trading on Wednesday, hitting $7.64. Spectrum Pharma has a 1-year low of $7.72 and a 1-year high of $17.48. The stock’s 50-day moving average is currently $11.62. The company has a market cap of $450.7 million and a price-to-earnings ratio of 5.35.
Spectrum Pharmaceuticals, Inc. ( Spectrum) is a commercial stage biopharmaceutical company, engaged in developing and commercializing therapies with a focus primarily in the areas of hematology-oncology and urology.
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