Spectrum Pharmaceuticals (SPPI) Releases Quarterly Earnings Results
Spectrum Pharmaceuticals (NASDAQ:SPPI) posted its quarterly earnings results on Thursday. The biotechnology company reported ($0.17) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.27) by $0.10, Briefing.com reports. The business had revenue of $25.27 million during the quarter, compared to the consensus estimate of $25.73 million. Spectrum Pharmaceuticals had a negative net margin of 41.24% and a negative return on equity of 27.71%. The company’s quarterly revenue was down 30.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.11) earnings per share.
Shares of SPPI stock traded up $0.62 on Friday, reaching $13.46. 1,440,032 shares of the stock were exchanged, compared to its average volume of 1,312,007. The company has a market cap of $1.40 billion, a P/E ratio of -12.58 and a beta of 2.18. Spectrum Pharmaceuticals has a twelve month low of $11.52 and a twelve month high of $25.29.
In related news, Director Gilles Gagnon sold 10,000 shares of the business’s stock in a transaction on Tuesday, October 9th. The shares were sold at an average price of $15.33, for a total transaction of $153,300.00. Following the completion of the transaction, the director now owns 72,500 shares in the company, valued at $1,111,425. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Anthony E. Maida III sold 7,250 shares of the business’s stock in a transaction on Thursday, November 8th. The stock was sold at an average price of $13.07, for a total transaction of $94,757.50. Following the transaction, the director now owns 40,238 shares of the company’s stock, valued at approximately $525,910.66. The disclosure for this sale can be found here. Insiders own 9.35% of the company’s stock.
Several research firms have commented on SPPI. BidaskClub upgraded shares of Spectrum Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Saturday, November 3rd. ValuEngine downgraded shares of Spectrum Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Thursday, November 1st. Zacks Investment Research downgraded shares of Spectrum Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Monday, October 15th. TheStreet downgraded shares of Spectrum Pharmaceuticals from a “c” rating to a “d+” rating in a research note on Wednesday, September 26th. Finally, B. Riley boosted their price target on shares of Spectrum Pharmaceuticals from $26.00 to $35.00 and gave the stock a “buy” rating in a research note on Friday, August 31st. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the stock. Spectrum Pharmaceuticals presently has an average rating of “Hold” and a consensus price target of $31.67.
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Spectrum Pharmaceuticals Company Profile
Spectrum Pharmaceuticals, Inc develops and commercializes oncology and hematology drug products. The company markets six drug products, including FUSILEV for patients with metastatic colorectal cancer and rescue after high-dose methotrexate therapy in osteosarcoma, and to diminish toxicity and counteract the effects of impaired methotrexate elimination and of inadvertent overdosage of folic acid antagonists; FOLOTYN, a folate analogue metabolic inhibitor for peripheral T-cell lymphoma (PTCL); ZEVALIN injection for patients with B-cell non-Hodgkin's lymphoma; MARQIBO, a sphingomyelin/cholesterol liposome-encapsulated formulation for adult patients with Philadelphia chromosome-negative acute lymphoblastic leukemia; BELEODAQ injection for PTCL; and EVOMELA for use as a conditioning treatment prior to autologous stem cell transplant in multiple myeloma patients.
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