Spectrum Pharmaceuticals Inc. (NASDAQ:SPPI) shot up 3.2% on Wednesday . The stock traded as high as $6.73 and last traded at $6.72, with a volume of 194,906 shares changing hands. The stock had previously closed at $6.51.

Several research firms have recently weighed in on SPPI. Zacks Investment Research lowered Spectrum Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Thursday, May 12th. Jefferies Group reissued a “hold” rating and issued a $6.00 target price (up from $5.00) on shares of Spectrum Pharmaceuticals in a report on Monday, May 9th. Finally, FBR & Co reissued a “buy” rating on shares of Spectrum Pharmaceuticals in a report on Thursday, July 14th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Spectrum Pharmaceuticals presently has a consensus rating of “Buy” and an average target price of $8.20.

The stock has a 50-day moving average of $6.67 and a 200-day moving average of $6.21. The stock’s market cap is $450.65 million.

Spectrum Pharmaceuticals (NASDAQ:SPPI) last issued its quarterly earnings data on Thursday, May 5th. The biotechnology company reported ($0.14) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.32) by $0.18. During the same quarter last year, the business earned ($0.07) earnings per share. The company had revenue of $43.90 million for the quarter, compared to analyst estimates of $28.83 million. The company’s revenue was up 13.7% on a year-over-year basis. On average, analysts expect 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 stake in Spectrum Pharmaceuticals Inc. (NASDAQ:SPPI) by 293.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 848,145 shares of the biotechnology company’s stock after buying an additional 632,445 shares during the period. Russell Frank Co owned 1.29% of Spectrum Pharmaceuticals worth $5,208,000 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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