Spectrum Pharmaceuticals Inc. (SPPI) Shares Up 3.8%
Spectrum Pharmaceuticals Inc. (NASDAQ:SPPI) shot up 3.8% on Wednesday . The company traded as high as $6.51 and last traded at $6.51, with a volume of 167,123 shares traded. The stock had previously closed at $6.27.
A number of research firms recently weighed in on SPPI. Zacks Investment Research lowered shares of Spectrum Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Thursday, May 12th. Jefferies Group restated a “hold” rating and issued a $6.00 target price (up previously from $5.00) on shares of Spectrum Pharmaceuticals in a report on Monday, May 9th. Finally, FBR & Co restated a “buy” rating on shares of Spectrum Pharmaceuticals in a report on Thursday, July 14th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Spectrum Pharmaceuticals presently has a consensus rating of “Buy” and an average target price of $8.20.
The stock’s market capitalization is $426.38 million. The company’s 50 day moving average is $6.77 and its 200-day moving average is $6.17.
Spectrum Pharmaceuticals (NASDAQ:SPPI) last released its quarterly earnings data on Thursday, May 5th. The biotechnology company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.18. The firm earned $43.90 million during the quarter, compared to analysts’ expectations of $28.83 million. During the same quarter in the previous year, the firm posted ($0.07) EPS. Spectrum Pharmaceuticals’s revenue was up 13.7% compared to the same quarter last year. Equities research analysts forecast 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. Russell Frank Co increased its position in shares of Spectrum Pharmaceuticals Inc. (NASDAQ:SPPI) by 293.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 848,145 shares of the biotechnology company’s stock after buying an additional 632,445 shares during the period. Russell Frank Co owned about 1.29% of Spectrum Pharmaceuticals worth $5,208,000 at the end of the most recent quarter.
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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