Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) Expected to Announce Earnings of -$0.32 Per Share

Equities analysts predict that Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) will report ($0.32) earnings per share (EPS) for the current fiscal quarter, Zacks reports. Zero analysts have issued estimates for Spectrum Pharmaceuticals’ earnings. The lowest EPS estimate is ($0.47) and the highest is ($0.22). Spectrum Pharmaceuticals posted earnings of ($0.29) per share during the same quarter last year, which indicates a negative year-over-year growth rate of 10.3%. The firm is expected to report its next earnings report on Monday, August 9th.

According to Zacks, analysts expect that Spectrum Pharmaceuticals will report full-year earnings of ($1.01) per share for the current year, with EPS estimates ranging from ($1.27) to ($0.91). For the next year, analysts forecast that the company will post earnings of ($0.65) per share, with EPS estimates ranging from ($1.32) to ($0.35). Zacks Investment Research’s earnings per share calculations are an average based on a survey of analysts that that provide coverage for Spectrum Pharmaceuticals.

Spectrum Pharmaceuticals (NASDAQ:SPPI) last released its earnings results on Thursday, May 13th. The biotechnology company reported ($0.25) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.33) by $0.08.

Separately, B. Riley reissued a “buy” rating and issued a $8.00 target price on shares of Spectrum Pharmaceuticals in a report on Monday, April 12th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $9.75.

Spectrum Pharmaceuticals stock opened at $4.39 on Tuesday. The business has a fifty day moving average of $3.30. Spectrum Pharmaceuticals has a 12 month low of $2.68 and a 12 month high of $5.24. The company has a market capitalization of $709.08 million, a P/E ratio of -3.69 and a beta of 2.24.

In other news, insider Keith M. Mcgahan sold 14,362 shares of the business’s stock in a transaction on Monday, March 15th. The stock was sold at an average price of $3.62, for a total value of $51,990.44. Following the completion of the transaction, the insider now owns 333,150 shares in the company, valued at $1,206,003. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Thomas J. Riga sold 23,291 shares of the business’s stock in a transaction on Monday, March 15th. The stock was sold at an average price of $3.62, for a total value of $84,313.42. Following the completion of the transaction, the chief operating officer now owns 431,359 shares of the company’s stock, valued at approximately $1,561,519.58. The disclosure for this sale can be found here. Insiders sold 107,009 shares of company stock valued at $383,573 in the last 90 days. Company insiders own 5.04% of the company’s stock.

A number of institutional investors have recently bought and sold shares of SPPI. LPL Financial LLC purchased a new stake in Spectrum Pharmaceuticals during the fourth quarter valued at $37,000. HighTower Advisors LLC purchased a new stake in Spectrum Pharmaceuticals during the first quarter valued at $38,000. Vantage Consulting Group Inc increased its position in Spectrum Pharmaceuticals by 150.5% during the first quarter. Vantage Consulting Group Inc now owns 11,686 shares of the biotechnology company’s stock valued at $38,000 after acquiring an additional 7,020 shares during the last quarter. Meeder Asset Management Inc. increased its position in Spectrum Pharmaceuticals by 2,662.6% during the first quarter. Meeder Asset Management Inc. now owns 11,686 shares of the biotechnology company’s stock valued at $39,000 after acquiring an additional 11,263 shares during the last quarter. Finally, Teacher Retirement System of Texas purchased a new stake in Spectrum Pharmaceuticals during the fourth quarter valued at $40,000. Institutional investors own 62.66% of the company’s stock.

Spectrum Pharmaceuticals Company Profile

Spectrum Pharmaceuticals, Inc, a biopharmaceutical company, develops and commercializes oncology and hematology drug products. The company's products under development include ROLONTIS, a novel long-acting granulocyte colony-stimulating factor for chemotherapy-induced neutropenia; Poziotinib, a novel irreversible tyrosine kinase inhibitor for non-small cell lung cancer tumors with various mutations; and Anti-CD20-IFNa, an antibody-interferon fusion molecule directed against CD20 that is in Phase I development for the treatment of patients with relapsed or refractory non-Hodgkin's lymphoma, including diffuse large B-cell lymphoma.

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Earnings History and Estimates for Spectrum Pharmaceuticals (NASDAQ:SPPI)

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