Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) has earned a consensus rating of “Buy” from the nine analysts that are covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $23.40.
SPPI has been the subject of a number of research reports. ValuEngine upgraded shares of Spectrum Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Tuesday, September 10th. BidaskClub upgraded shares of Spectrum Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday. Finally, B. Riley set a $18.00 price objective on shares of Spectrum Pharmaceuticals and gave the company a “buy” rating in a report on Friday, August 23rd.
In related news, Director William Ashton sold 6,667 shares of Spectrum Pharmaceuticals stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $8.57, for a total value of $57,136.19. Following the completion of the transaction, the director now owns 8,333 shares in the company, valued at $71,413.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Keith M. Mcgahan sold 3,535 shares of Spectrum Pharmaceuticals stock in a transaction that occurred on Wednesday, June 19th. The stock was sold at an average price of $8.49, for a total transaction of $30,012.15. Following the completion of the transaction, the insider now owns 135,756 shares of the company’s stock, valued at approximately $1,152,568.44. The disclosure for this sale can be found here. Insiders sold 10,496 shares of company stock valued at $89,433 in the last 90 days. Company insiders own 9.35% of the company’s stock.
A number of institutional investors have recently modified their holdings of the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in Spectrum Pharmaceuticals by 4.0% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 36,208 shares of the biotechnology company’s stock worth $387,000 after acquiring an additional 1,381 shares during the last quarter. New York State Teachers Retirement System lifted its stake in Spectrum Pharmaceuticals by 1.1% in the first quarter. New York State Teachers Retirement System now owns 138,700 shares of the biotechnology company’s stock worth $1,483,000 after acquiring an additional 1,536 shares during the last quarter. Flinton Capital Management LLC lifted its stake in Spectrum Pharmaceuticals by 15.3% in the second quarter. Flinton Capital Management LLC now owns 11,968 shares of the biotechnology company’s stock worth $103,000 after acquiring an additional 1,584 shares during the last quarter. Riverhead Capital Management LLC lifted its stake in Spectrum Pharmaceuticals by 14.8% in the second quarter. Riverhead Capital Management LLC now owns 13,200 shares of the biotechnology company’s stock worth $114,000 after acquiring an additional 1,700 shares during the last quarter. Finally, UBS Asset Management Americas Inc. lifted its stake in Spectrum Pharmaceuticals by 3.2% in the second quarter. UBS Asset Management Americas Inc. now owns 55,195 shares of the biotechnology company’s stock worth $475,000 after acquiring an additional 1,729 shares during the last quarter. Institutional investors own 73.25% of the company’s stock.
Shares of SPPI traded down $0.30 during trading on Friday, reaching $8.86. 706,362 shares of the company traded hands, compared to its average volume of 680,527. Spectrum Pharmaceuticals has a twelve month low of $6.22 and a twelve month high of $21.80. The stock has a market cap of $1.03 billion, a PE ratio of -8.77 and a beta of 2.54. The stock has a 50-day simple moving average of $7.68 and a 200-day simple moving average of $8.79. The company has a quick ratio of 5.37, a current ratio of 5.37 and a debt-to-equity ratio of 0.04.
Spectrum Pharmaceuticals (NASDAQ:SPPI) last announced its quarterly earnings data on Thursday, August 8th. The biotechnology company reported ($0.23) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.13. The firm had revenue of ($1.25) million during the quarter, compared to analysts’ expectations of $0.50 million. Spectrum Pharmaceuticals had a negative net margin of 109.76% and a negative return on equity of 41.95%. The business’s quarterly revenue was down 105.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.21) earnings per share. On average, equities research analysts predict that Spectrum Pharmaceuticals will post -1.21 EPS for the current year.
About Spectrum Pharmaceuticals
Spectrum Pharmaceuticals, Inc develops and commercializes oncology and hematology drug products. The company offers KHAPZORY, a novel folate analog and the pharmacologically active levo-isomer of d, and 1-leucovorin; FOLOTYN, a folate analogue metabolic inhibitor for peripheral T-cell lymphoma (PTCL); ZEVALIN injection to treat non-Hodgkin's lymphoma; MARQIBO for adult patients with Philadelphia chromosome-negative acute lymphoblastic leukemia; BELEODAQ, a histone deacytelase, or HDAC, inhibitor for the treatment of patients with relapsed or refractory PTCL; and EVOMELA for use as a conditioning treatment prior to autologous stem cell transplant in multiple myeloma patients.
Read More: What are catch-up contributions?
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.