B. Riley initiated coverage on shares of Spectrum Pharmaceuticals (NASDAQ:SPPI) in a report issued on Monday, December 18th, Marketbeat reports. The firm issued a buy rating and a $26.00 price target on the biotechnology company’s stock.
Several other research firms have also recently weighed in on SPPI. Jefferies Group raised their price objective on shares of Spectrum Pharmaceuticals from $9.00 to $13.00 and gave the company a buy rating in a research report on Monday, September 25th. HC Wainwright reaffirmed a buy rating and set a $14.00 target price on shares of Spectrum Pharmaceuticals in a report on Thursday, September 14th. Guggenheim started coverage on shares of Spectrum Pharmaceuticals in a report on Monday, October 23rd. They set a buy rating and a $32.00 target price on the stock. Finally, Zacks Investment Research lowered shares of Spectrum Pharmaceuticals from a hold rating to a sell rating in a report on Wednesday, October 4th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock has an average rating of Buy and an average target price of $22.17.
Shares of Spectrum Pharmaceuticals (NASDAQ SPPI) opened at $19.42 on Monday. Spectrum Pharmaceuticals has a 52 week low of $4.31 and a 52 week high of $21.95. The company has a quick ratio of 4.89, a current ratio of 5.04 and a debt-to-equity ratio of 0.33. The stock has a market cap of $1,950.00, a P/E ratio of -19.42 and a beta of 1.63.
Spectrum Pharmaceuticals (NASDAQ:SPPI) last posted its earnings results on Thursday, November 2nd. The biotechnology company reported ($0.22) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.16) by ($0.06). The firm had revenue of $36.40 million during the quarter, compared to analysts’ expectations of $33.27 million. Spectrum Pharmaceuticals had a negative return on equity of 29.73% and a negative net margin of 58.94%. The business’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.07) earnings per share. equities analysts anticipate that Spectrum Pharmaceuticals will post -1.06 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently modified their holdings of SPPI. Bank of Montreal Can lifted its position in Spectrum Pharmaceuticals by 0.7% during the 2nd quarter. Bank of Montreal Can now owns 113,035 shares of the biotechnology company’s stock valued at $843,000 after acquiring an additional 827 shares during the period. Municipal Employees Retirement System of Michigan lifted its position in Spectrum Pharmaceuticals by 5.6% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 16,720 shares of the biotechnology company’s stock valued at $125,000 after acquiring an additional 880 shares during the period. Great West Life Assurance Co. Can raised its holdings in Spectrum Pharmaceuticals by 7.3% in the second quarter. Great West Life Assurance Co. Can now owns 100,032 shares of the biotechnology company’s stock worth $745,000 after buying an additional 6,800 shares during the last quarter. Texas Permanent School Fund raised its holdings in Spectrum Pharmaceuticals by 0.7% in the second quarter. Texas Permanent School Fund now owns 51,664 shares of the biotechnology company’s stock worth $385,000 after buying an additional 338 shares during the last quarter. Finally, Rhumbline Advisers raised its holdings in Spectrum Pharmaceuticals by 3.8% in the second quarter. Rhumbline Advisers now owns 156,334 shares of the biotechnology company’s stock worth $1,165,000 after buying an additional 5,754 shares during the last quarter. 71.87% of the stock is owned by institutional investors.
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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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