Perceptive Advisors LLC acquired a new position in shares of Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 32,154 shares of the biotechnology company’s stock, valued at approximately $609,000.
Several other institutional investors also recently made changes to their positions in the company. Jane Street Group LLC acquired a new position in Spectrum Pharmaceuticals in the third quarter valued at approximately $152,000. Los Angeles Capital Management & Equity Research Inc. acquired a new position in Spectrum Pharmaceuticals in the third quarter valued at approximately $177,000. Campbell & CO Investment Adviser LLC acquired a new position in Spectrum Pharmaceuticals in the third quarter valued at approximately $192,000. Crossmark Global Holdings Inc. acquired a new position in Spectrum Pharmaceuticals in the third quarter valued at approximately $212,000. Finally, Hartford Investment Management Co. acquired a new position in Spectrum Pharmaceuticals in the third quarter valued at approximately $317,000. 78.89% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts recently issued reports on the company. BidaskClub raised Spectrum Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Friday, January 26th. HC Wainwright upped their price target on Spectrum Pharmaceuticals to $33.00 and gave the company a “buy” rating in a report on Monday, February 5th. Zacks Investment Research raised Spectrum Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Friday, January 12th. Finally, B. Riley assumed coverage on Spectrum Pharmaceuticals in a report on Monday, December 18th. They issued a “buy” rating and a $26.00 price target for the company. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Spectrum Pharmaceuticals presently has an average rating of “Buy” and an average target price of $25.20.
Spectrum Pharmaceuticals, Inc. (NASDAQ SPPI) opened at $19.05 on Tuesday. Spectrum Pharmaceuticals, Inc. has a fifty-two week low of $5.47 and a fifty-two week high of $23.50.
Spectrum Pharmaceuticals (NASDAQ:SPPI) last posted its quarterly earnings data on Tuesday, March 6th. The biotechnology company reported ($0.29) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.25) by ($0.04). The firm had revenue of $28.57 million during the quarter, compared to analyst estimates of $33.18 million. Spectrum Pharmaceuticals had a negative net margin of 70.66% and a negative return on equity of 30.68%. Spectrum Pharmaceuticals’s revenue was down 18.9% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.10) earnings per share. analysts expect that Spectrum Pharmaceuticals, Inc. will post -1.14 EPS for the current fiscal year.
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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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