Spectrum Pharmaceuticals (NASDAQ:SPPI)‘s stock had its “buy” rating restated by investment analysts at HC Wainwright in a note issued to investors on Monday, December 18th. They currently have a $29.00 target price on the biotechnology company’s stock. HC Wainwright’s target price would suggest a potential upside of 50.26% from the company’s current price.
A number of other equities analysts have also recently commented on the company. Guggenheim started coverage on Spectrum Pharmaceuticals in a report on Monday, October 23rd. They set a “buy” rating and a $32.00 price target for the company. Jefferies Group boosted their price target on Spectrum Pharmaceuticals to $25.00 and gave the stock a “buy” rating in a report on Friday, October 20th. Zacks Investment Research cut Spectrum Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Wednesday, October 4th. Finally, B. Riley started coverage on Spectrum Pharmaceuticals in a report on Monday, December 18th. They set a “buy” rating and a $26.00 price target for the company. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $22.17.
Shares of Spectrum Pharmaceuticals (NASDAQ:SPPI) traded up $0.43 during midday trading on Monday, hitting $19.30. The stock had a trading volume of 906,240 shares, compared to its average volume of 951,268. The company has a market cap of $1,940.00, a P/E ratio of -19.30 and a beta of 1.63. The company has a debt-to-equity ratio of 0.33, a current ratio of 5.04 and a quick ratio of 4.89. Spectrum Pharmaceuticals has a one year low of $4.31 and a one year high of $21.95.
Spectrum Pharmaceuticals (NASDAQ:SPPI) last announced its quarterly earnings data on Thursday, November 2nd. The biotechnology company reported ($0.22) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.16) by ($0.06). Spectrum Pharmaceuticals had a negative net margin of 58.94% and a negative return on equity of 29.73%. The company had revenue of $36.40 million during the quarter, compared to analyst estimates of $33.27 million. During the same period in the prior year, the firm earned ($0.07) earnings per share. Spectrum Pharmaceuticals’s revenue was up 9.0% on a year-over-year basis. equities analysts predict that Spectrum Pharmaceuticals will post -1.03 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in SPPI. State Street Corp grew its position in shares of Spectrum Pharmaceuticals by 28.3% in the 2nd quarter. State Street Corp now owns 3,020,563 shares of the biotechnology company’s stock valued at $22,507,000 after buying an additional 666,605 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Spectrum Pharmaceuticals by 21.0% during 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 in the last quarter. Renaissance Technologies LLC boosted its position in shares of Spectrum Pharmaceuticals by 6.9% during the 2nd quarter. Renaissance Technologies LLC now owns 6,071,817 shares of the biotechnology company’s stock valued at $45,235,000 after purchasing an additional 392,017 shares in the last quarter. WINTON GROUP Ltd bought a new stake in shares of Spectrum Pharmaceuticals during the 3rd quarter valued at about $3,263,000. Finally, Macquarie Group Ltd. boosted its position in shares of Spectrum Pharmaceuticals by 9.4% during the 2nd quarter. Macquarie Group Ltd. now owns 2,247,493 shares of the biotechnology company’s stock valued at $16,744,000 after purchasing an additional 193,883 shares in the last quarter. Hedge funds and other institutional investors own 71.87% of the company’s stock.
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Spectrum Pharmaceuticals Company Profile
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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