Spectrum Pharmaceuticals Inc. (SPPI) Shares Down 3.9%
Spectrum Pharmaceuticals Inc. (NASDAQ:SPPI) was down 3.9% during trading on Tuesday . The stock traded as low as $6.32 and last traded at $6.33, with a volume of 344,010 shares. The stock had previously closed at $6.59.
Several equities research analysts have commented on SPPI shares. FBR & Co reiterated a “buy” rating on shares of Spectrum Pharmaceuticals in a research note on Thursday, July 14th. Jefferies Group reiterated a “hold” rating and set a $6.00 price objective (up from $5.00) on shares of Spectrum Pharmaceuticals in a research note on Monday, May 9th. Finally, Zacks Investment Research lowered Spectrum Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Thursday, May 12th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $8.20.
The company’s market cap is $411.29 million. The firm has a 50-day moving average of $6.84 and a 200 day moving average of $6.17.
Spectrum Pharmaceuticals (NASDAQ:SPPI) last announced its earnings results on Thursday, May 5th. The biotechnology company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.32) by $0.18. The business had revenue of $43.90 million for the quarter, compared to analyst estimates of $28.83 million. Spectrum Pharmaceuticals’s quarterly revenue was up 13.7% on a year-over-year basis. During the same quarter last year, the company posted ($0.07) EPS. On average, equities analysts predict that Spectrum Pharmaceuticals Inc. will post ($1.05) earnings per share for the current year.
An institutional investor recently raised its position in Spectrum Pharmaceuticals stock. American Century Companies Inc. raised its stake in Spectrum Pharmaceuticals Inc. (NASDAQ:SPPI) by 0.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 193,307 shares of the biotechnology company’s stock after buying an additional 1,424 shares during the period. American Century Companies Inc. owned approximately 0.29% of Spectrum Pharmaceuticals worth $1,166,000 at the end of the most recent reporting period.
Spectrum Pharmaceuticals, Inc is a biotechnology Company. The Company is engaged in commercial and drug development operations with a focus on hematology and oncology. The Company is engaged in acquiring, developing and commercializing the pipeline of late-stage clinical and commercial drug compounds.
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