Spectrum Pharmaceuticals (SPPI) Earns Buy Rating from Analysts at B. Riley

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.

COPYRIGHT VIOLATION WARNING: “Spectrum Pharmaceuticals (SPPI) Earns Buy Rating from Analysts at B. Riley” was posted by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are viewing this report on another site, it was illegally copied and republished in violation of United States and international copyright & trademark legislation. The correct version of this report can be read at https://www.dispatchtribunal.com/2018/01/14/spectrum-pharmaceuticals-sppi-now-covered-by-b-riley.html.

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).

Analyst Recommendations for Spectrum Pharmaceuticals (NASDAQ:SPPI)

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.

Leave a Reply