Spectrum Pharmaceuticals Inc. (SPPI) Shares Up 5.4%
Spectrum Pharmaceuticals Inc. (NASDAQ:SPPI) shot up 5.4% during trading on Thursday . The company traded as high as $6.03 and last traded at $6.03, with a volume of 635,208 shares changing hands. The stock had previously closed at $5.72.
A number of brokerages have recently commented on SPPI. Zacks Investment Research cut shares of Spectrum Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Thursday, May 12th. FBR & Co reiterated a “buy” rating on shares of Spectrum Pharmaceuticals in a research report on Thursday, July 14th. Finally, Jefferies Group restated a “hold” rating and set a $6.00 price objective (up from $5.00) on shares of Spectrum Pharmaceuticals in a research report on Monday, May 9th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $8.20.
The stock’s market capitalization is $381.12 million. The stock has a 50 day moving average of $6.63 and a 200-day moving average of $6.34.
Spectrum Pharmaceuticals (NASDAQ:SPPI) last issued its earnings results on Tuesday, August 9th. The biotechnology company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.29) by $0.24. The company had revenue of $33.90 million for the quarter, compared to analysts’ expectations of $30.88 million. During the same quarter in the previous year, the firm posted ($0.01) earnings per share. Spectrum Pharmaceuticals’s revenue for the quarter was down 24.6% on a year-over-year basis. On average, equities analysts predict that Spectrum Pharmaceuticals Inc. will post ($1.12) EPS for the current year.
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).
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