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.
WARNING: This article was first published by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are accessing this article on another website, it was illegally copied and reposted in violation of U.S. and international trademark & copyright legislation. The correct version of this article can be viewed at https://www.dispatchtribunal.com/2018/01/14/spectrum-pharmaceuticals-inc-sppi-stake-lifted-by-legal-general-group-plc.html.
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 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spectrum Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.