Spectrum Pharmaceuticals, Inc. (SPPI) Director Anthony E. Maida III Sells 7,250 Shares

Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) Director Anthony E. Maida III sold 7,250 shares of the business’s stock in a transaction dated Thursday, November 8th. The shares were sold at an average price of $13.07, for a total transaction of $94,757.50. Following the completion of the transaction, the director now owns 40,238 shares in the company, valued at $525,910.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Shares of SPPI stock traded up $0.62 during trading hours on Friday, reaching $13.46. 1,440,032 shares of the company were exchanged, compared to its average volume of 1,312,007. Spectrum Pharmaceuticals, Inc. has a fifty-two week low of $11.52 and a fifty-two week high of $25.29. The firm has a market capitalization of $1.40 billion, a price-to-earnings ratio of -12.58 and a beta of 2.18.

Spectrum Pharmaceuticals (NASDAQ:SPPI) last announced its earnings results on Thursday, November 8th. The biotechnology company reported ($0.17) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.27) by $0.10. Spectrum Pharmaceuticals had a negative net margin of 41.24% and a negative return on equity of 27.71%. The company had revenue of $25.27 million for the quarter, compared to analyst estimates of $25.73 million. During the same period in the prior year, the business earned ($0.11) earnings per share. Spectrum Pharmaceuticals’s quarterly revenue was down 30.6% on a year-over-year basis. Equities research analysts anticipate that Spectrum Pharmaceuticals, Inc. will post -0.97 earnings per share for the current year.

Several hedge funds have recently made changes to their positions in SPPI. Jane Street Group LLC acquired a new position in shares of Spectrum Pharmaceuticals during the first quarter worth approximately $246,000. Millennium Management LLC acquired a new position in Spectrum Pharmaceuticals in the first quarter valued at approximately $3,707,000. Legal & General Group Plc lifted its holdings in Spectrum Pharmaceuticals by 16.3% in the first quarter. Legal & General Group Plc now owns 190,497 shares of the biotechnology company’s stock valued at $3,084,000 after buying an additional 26,687 shares during the period. Xact Kapitalforvaltning AB acquired a new position in Spectrum Pharmaceuticals in the first quarter valued at approximately $260,000. Finally, Principal Financial Group Inc. lifted its holdings in Spectrum Pharmaceuticals by 2.7% in the first quarter. Principal Financial Group Inc. now owns 721,337 shares of the biotechnology company’s stock valued at $11,606,000 after buying an additional 19,020 shares during the period. Institutional investors own 83.39% of the company’s stock.

A number of equities analysts have commented on the stock. HC Wainwright boosted their price target on shares of Spectrum Pharmaceuticals to $40.00 and gave the company a “buy” rating in a research report on Thursday, September 6th. BidaskClub upgraded shares of Spectrum Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday, August 29th. ValuEngine lowered shares of Spectrum Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Thursday, November 1st. Zacks Investment Research lowered shares of Spectrum Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Monday, October 15th. Finally, TheStreet lowered shares of Spectrum Pharmaceuticals from a “c” rating to a “d+” rating in a research report on Wednesday, September 26th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $31.67.

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Spectrum Pharmaceuticals Company Profile

Spectrum Pharmaceuticals, Inc develops and commercializes oncology and hematology drug products. The company markets six drug products, including FUSILEV for patients with metastatic colorectal cancer and rescue after high-dose methotrexate therapy in osteosarcoma, and to diminish toxicity and counteract the effects of impaired methotrexate elimination and of inadvertent overdosage of folic acid antagonists; FOLOTYN, a folate analogue metabolic inhibitor for peripheral T-cell lymphoma (PTCL); ZEVALIN injection for patients with B-cell non-Hodgkin's lymphoma; MARQIBO, a sphingomyelin/cholesterol liposome-encapsulated formulation for adult patients with Philadelphia chromosome-negative acute lymphoblastic leukemia; BELEODAQ injection for PTCL; and EVOMELA for use as a conditioning treatment prior to autologous stem cell transplant in multiple myeloma patients.

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Insider Buying and Selling by Quarter for Spectrum Pharmaceuticals (NASDAQ:SPPI)

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