Spectrum Pharmaceuticals, Inc. (SPPI) Stock Rating Reaffirmed by HC Wainwright
Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI)‘s stock had its “buy” rating reissued by research analysts at HC Wainwright in a research report issued on Thursday. They presently have a $14.00 price objective on the biotechnology company’s stock. HC Wainwright’s price target would indicate a potential upside of 38.75% from the company’s previous close.
Other equities analysts also recently issued reports about the company. Zacks Investment Research upgraded Spectrum Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Tuesday, June 6th. ValuEngine upgraded Spectrum Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Thursday, August 17th. BidaskClub downgraded Spectrum Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Finally, Jefferies Group LLC set a $9.00 target price on Spectrum Pharmaceuticals and gave the stock a “buy” rating in a research report on Thursday, June 8th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $10.80.
Shares of Spectrum Pharmaceuticals (NASDAQ SPPI) traded up 0.20% on Thursday, hitting $10.11. The stock had a trading volume of 269,575 shares. The stock’s market cap is $794.40 million. Spectrum Pharmaceuticals has a 12 month low of $3.21 and a 12 month high of $10.77. The stock has a 50 day moving average of $9.08 and a 200-day moving average of $7.28.
Spectrum Pharmaceuticals (NASDAQ:SPPI) last released its quarterly earnings results on Thursday, August 3rd. The biotechnology company reported ($0.26) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.27) by $0.01. Spectrum Pharmaceuticals had a negative return on equity of 30.95% and a negative net margin of 59.33%. The business had revenue of $34.30 million during the quarter, compared to analyst estimates of $30.50 million. During the same quarter in the previous year, the company posted ($0.35) earnings per share. Spectrum Pharmaceuticals’s revenue for the quarter was up 1.0% on a year-over-year basis. Equities research analysts anticipate that Spectrum Pharmaceuticals will post ($1.03) EPS for the current year.
Several large investors have recently bought and sold shares of the stock. Piedmont Investment Advisors LLC purchased a new stake in shares of Spectrum Pharmaceuticals in the second quarter worth about $114,000. State Street Corp lifted its position in shares of Spectrum Pharmaceuticals by 28.3% in the second quarter. State Street Corp now owns 3,020,563 shares of the biotechnology company’s stock worth $22,507,000 after buying an additional 666,605 shares in the last quarter. Cornerstone Capital Management Holdings LLC. lifted its position in shares of Spectrum Pharmaceuticals by 196.5% in the second quarter. Cornerstone Capital Management Holdings LLC. now owns 187,697 shares of the biotechnology company’s stock worth $1,397,000 after buying an additional 124,383 shares in the last quarter. Macquarie Group Ltd. lifted its position in shares of Spectrum Pharmaceuticals by 9.4% in the second quarter. Macquarie Group Ltd. now owns 2,247,493 shares of the biotechnology company’s stock worth $16,744,000 after buying an additional 193,883 shares in the last quarter. Finally, PDT Partners LLC lifted its position in shares of Spectrum Pharmaceuticals by 15.3% in the second quarter. PDT Partners LLC now owns 142,000 shares of the biotechnology company’s stock worth $1,058,000 after buying an additional 18,800 shares in the last quarter. Institutional investors own 66.09% of the company’s stock.
About Spectrum Pharmaceuticals
Spectrum Pharmaceuticals, Inc is a biotechnology company. The Company operates through developing and commercializing oncology and hematology drug products segment. It has a product portfolio consisting of both commercial stage and development stage products that address various cancer types. The Company has six approved oncology/hematology products that target different types of cancer, including non-Hodgkin’s lymphoma (NHL), advanced metastatic colorectal cancer (mCRC), acute lymphoblastic leukemia (ALL) and multiple myeloma (MM).
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