Brokerages expect that Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) will report sales of $33.05 million for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Spectrum Pharmaceuticals’ earnings, with the highest sales estimate coming in at $34.80 million and the lowest estimate coming in at $31.30 million. Spectrum Pharmaceuticals reported sales of $35.24 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 6.2%. The firm is expected to announce its next quarterly earnings report on Wednesday, March 14th.
On average, analysts expect that Spectrum Pharmaceuticals will report full-year sales of $33.05 million for the current year, with estimates ranging from $131.10 million to $136.10 million. For the next fiscal year, analysts expect that the company will report sales of $131.20 million per share, with estimates ranging from $122.50 million to $139.90 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Spectrum Pharmaceuticals.
Spectrum Pharmaceuticals (NASDAQ:SPPI) last issued its quarterly earnings data on Thursday, November 2nd. The biotechnology company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.06). Spectrum Pharmaceuticals had a negative return on equity of 29.73% and a negative net margin of 58.94%. The company had revenue of $36.40 million during the quarter, compared to analyst estimates of $33.27 million. During the same quarter in the prior year, the company posted ($0.07) earnings per share. The business’s revenue was up 9.0% compared to the same quarter last year.
Several equities research analysts recently weighed in on the stock. HC Wainwright reaffirmed a “buy” rating on shares of Spectrum Pharmaceuticals in a research note on Friday, November 3rd. Guggenheim assumed coverage on shares of Spectrum Pharmaceuticals in a research note on Monday, October 23rd. They set a “buy” rating and a $32.00 target price on the stock. Jefferies Group upped their target price on shares of Spectrum Pharmaceuticals to $25.00 and gave the stock a “buy” rating in a research note on Friday, October 20th. Zacks Investment Research downgraded shares of Spectrum Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Wednesday, October 4th. Finally, ValuEngine raised shares of Spectrum Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Thursday, August 17th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $21.40.
Large investors have recently made changes to their positions in the business. Fisher Asset Management LLC purchased a new stake in shares of Spectrum Pharmaceuticals in the 3rd quarter valued at approximately $2,521,000. Wells Fargo & Company MN increased its position in shares of Spectrum Pharmaceuticals by 25.1% in the 2nd quarter. Wells Fargo & Company MN now owns 768,658 shares of the biotechnology company’s stock valued at $5,727,000 after purchasing an additional 154,048 shares during the last quarter. ClariVest Asset Management LLC increased its position in shares of Spectrum Pharmaceuticals by 16.6% in the 3rd quarter. ClariVest Asset Management LLC now owns 282,024 shares of the biotechnology company’s stock valued at $3,969,000 after purchasing an additional 40,115 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Spectrum Pharmaceuticals by 1.2% in the 2nd quarter. Vanguard Group Inc. now owns 7,292,704 shares of the biotechnology company’s stock valued at $54,331,000 after purchasing an additional 83,981 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Spectrum Pharmaceuticals by 21.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,674,679 shares of the biotechnology company’s stock valued at $19,926,000 after purchasing an additional 463,434 shares during the last quarter. 71.88% of the stock is currently owned by institutional investors.
Shares of Spectrum Pharmaceuticals (NASDAQ SPPI) traded down $0.08 on Tuesday, reaching $18.92. 502,026 shares of the company traded hands, compared to its average volume of 1,066,614. Spectrum Pharmaceuticals has a 1 year low of $4.17 and a 1 year high of $21.95. The company has a current ratio of 5.04, a quick ratio of 4.89 and a debt-to-equity ratio of 0.33.
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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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