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.

ILLEGAL ACTIVITY NOTICE: This news story was first posted by Daily Political and is the sole property of of Daily Political. If you are viewing this news story on another website, it was copied illegally and reposted in violation of US & international trademark and copyright law. The correct version of this news story can be accessed at https://www.dailypolitical.com/2017/09/14/spectrum-pharmaceuticals-inc-sppi-stock-rating-reaffirmed-by-hc-wainwright.html.

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).

Receive News & Ratings for Spectrum Pharmaceuticals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spectrum Pharmaceuticals Inc. and related companies with MarketBeat.com's FREE daily email newsletter.