Legal & General Group Plc Acquires 7,212 Shares of Spectrum Pharmaceuticals, Inc. (SPPI)

Legal & General Group Plc lifted its position in shares of Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) by 5.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 138,951 shares of the biotechnology company’s stock after acquiring an additional 7,212 shares during the quarter. Legal & General Group Plc owned 0.14% of Spectrum Pharmaceuticals worth $1,951,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of SPPI. Fisher Asset Management LLC purchased a new position in Spectrum Pharmaceuticals in the 3rd quarter valued at about $2,521,000. SG Americas Securities LLC lifted its stake in Spectrum Pharmaceuticals by 153.3% in the 3rd quarter. SG Americas Securities LLC now owns 45,871 shares of the biotechnology company’s stock valued at $645,000 after buying an additional 27,763 shares in the last quarter. Prudential Financial Inc. lifted its stake in Spectrum Pharmaceuticals by 7.5% in the 3rd quarter. Prudential Financial Inc. now owns 125,141 shares of the biotechnology company’s stock valued at $1,761,000 after buying an additional 8,745 shares in the last quarter. Wells Fargo & Company MN lifted its stake in 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 buying an additional 154,048 shares in the last quarter. Finally, ClariVest Asset Management LLC lifted its stake in 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 buying an additional 40,115 shares in the last quarter. 71.87% of the stock is currently owned by institutional investors and hedge funds.

Shares of Spectrum Pharmaceuticals, Inc. (NASDAQ SPPI) opened at $19.42 on Friday. The stock has a market cap of $1,950.00, a P/E ratio of -19.42 and a beta of 1.63. The company has a current ratio of 5.04, a quick ratio of 4.89 and a debt-to-equity ratio of 0.33. Spectrum Pharmaceuticals, Inc. has a 1-year low of $4.31 and a 1-year high of $21.95.

Spectrum Pharmaceuticals (NASDAQ:SPPI) last announced its quarterly earnings results on Thursday, November 2nd. The biotechnology company reported ($0.22) earnings per share (EPS) for the quarter, missing the Zacks’ 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 firm had revenue of $36.40 million for the quarter, compared to analyst estimates of $33.27 million. During the same quarter in the prior year, the business earned ($0.07) EPS. The firm’s quarterly revenue was up 9.0% on a year-over-year basis. research analysts forecast that Spectrum Pharmaceuticals, Inc. will post -1.06 earnings per share for the current fiscal year.

SPPI has been the topic of a number of research reports. HC Wainwright reaffirmed a “buy” rating on shares of Spectrum Pharmaceuticals in a research note on Friday, November 3rd. B. Riley assumed coverage on shares of Spectrum Pharmaceuticals in a research note on Monday, December 18th. They issued a “buy” rating and a $26.00 target price on the stock. Zacks Investment Research lowered shares of Spectrum Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Tuesday, January 2nd. Jefferies Group raised their target price on shares of Spectrum Pharmaceuticals from $13.00 to $18.00 and gave the stock a “buy” rating in a research note on Monday, October 9th. Finally, Guggenheim started coverage on shares of Spectrum Pharmaceuticals in a research note on Monday, October 23rd. They issued a “buy” rating and a $32.00 target price on the stock. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $22.17.

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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).

Institutional Ownership by Quarter for Spectrum Pharmaceuticals (NASDAQ:SPPI)

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