Spectrum Pharmaceuticals, Inc. (SPPI) Given Average Rating of “Buy” by Analysts

Shares of Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) have been given a consensus rating of “Buy” by the six ratings firms that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $16.50.

A number of brokerages recently commented on SPPI. HC Wainwright lifted their target price on shares of Spectrum Pharmaceuticals from $14.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday. Zacks Investment Research cut shares of Spectrum Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Wednesday. Jefferies Group LLC boosted 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. ValuEngine upgraded shares of Spectrum Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Thursday, August 17th. Finally, BidaskClub cut shares of Spectrum Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st.

Spectrum Pharmaceuticals (NASDAQ SPPI) traded down 2.72% during mid-day trading on Friday, reaching $14.28. The company had a trading volume of 1,164,951 shares. The firm’s market capitalization is $1.12 billion. The firm has a 50-day moving average price of $10.76 and a 200 day moving average price of $7.95. Spectrum Pharmaceuticals has a 12-month low of $3.21 and a 12-month high of $15.32.

Spectrum Pharmaceuticals (NASDAQ:SPPI) last issued its earnings results on Thursday, August 3rd. The biotechnology company reported ($0.26) EPS for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.01. The company had revenue of $34.30 million for the quarter, compared to analysts’ expectations of $30.50 million. Spectrum Pharmaceuticals had a negative net margin of 59.33% and a negative return on equity of 30.95%. The firm’s revenue was up 1.0% compared to the same quarter last year. During the same quarter last year, the company earned ($0.35) EPS. Analysts expect that Spectrum Pharmaceuticals will post ($1.06) EPS for the current year.

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Several hedge funds have recently added to or reduced their stakes in SPPI. State of Alaska Department of Revenue increased its position in shares of Spectrum Pharmaceuticals by 77.1% in the second quarter. State of Alaska Department of Revenue now owns 13,918 shares of the biotechnology company’s stock valued at $103,000 after acquiring an additional 6,058 shares during the period. Mason Street Advisors LLC increased its position in shares of Spectrum Pharmaceuticals by 8.4% in the first quarter. Mason Street Advisors LLC now owns 16,577 shares of the biotechnology company’s stock valued at $108,000 after acquiring an additional 1,279 shares during the period. Piedmont Investment Advisors LLC purchased a new position in shares of Spectrum Pharmaceuticals in the second quarter valued at about $114,000. Municipal Employees Retirement System of Michigan increased its position in shares of Spectrum Pharmaceuticals by 5.6% in the second quarter. Municipal Employees Retirement System of Michigan now owns 16,720 shares of the biotechnology compan

A number of brokerages recently commented on SPPI. HC Wainwright lifted their target price on shares of Spectrum Pharmaceuticals from $14.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday. Zacks Investment Research cut shares of Spectrum Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Wednesday. Jefferies Group LLC boosted 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. ValuEngine upgraded shares of Spectrum Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Thursday, August 17th. Finally, BidaskClub cut shares of Spectrum Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st.

Spectrum Pharmaceuticals (NASDAQ SPPI) traded down 2.72% during mid-day trading on Friday, reaching $14.28. The company had a trading volume of 1,164,951 shares. The firm’s market capitalization is $1.12 billion. The firm has a 50-day moving average price of $10.76 and a 200 day moving average price of $7.95. Spectrum Pharmaceuticals has a 12-month low of $3.21 and a 12-month high of $15.32.

Spectrum Pharmaceuticals (NASDAQ:SPPI) last issued its earnings results on Thursday, August 3rd. The biotechnology company reported ($0.26) EPS for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.01. The company had revenue of $34.30 million for the quarter, compared to analysts’ expectations of $30.50 million. Spectrum Pharmaceuticals had a negative net margin of 59.33% and a negative return on equity of 30.95%. The firm’s revenue was up 1.0% compared to the same quarter last year. During the same quarter last year, the company earned ($0.35) EPS. Analysts expect that Spectrum Pharmaceuticals will post ($1.06) EPS for the current year.

COPYRIGHT VIOLATION NOTICE: This news story was posted by The Ledger Gazette and is the property of of The Ledger Gazette. If you are viewing this news story on another domain, it was copied illegally and republished in violation of U.S. and international copyright and trademark laws. The correct version of this news story can be read at https://ledgergazette.com/2017/10/08/spectrum-pharmaceuticals-inc-sppi-given-average-rating-of-buy-by-analysts.html.

Several hedge funds have recently added to or reduced their stakes in SPPI. State of Alaska Department of Revenue increased its position in shares of Spectrum Pharmaceuticals by 77.1% in the second quarter. State of Alaska Department of Revenue now owns 13,918 shares of the biotechnology company’s stock valued at $103,000 after acquiring an additional 6,058 shares during the period. Mason Street Advisors LLC increased its position in shares of Spectrum Pharmaceuticals by 8.4% in the first quarter. Mason Street Advisors LLC now owns 16,577 shares of the biotechnology company’s stock valued at $108,000 after acquiring an additional 1,279 shares during the period. Piedmont Investment Advisors LLC purchased a new position in shares of Spectrum Pharmaceuticals in the second quarter valued at about $114,000. Municipal Employees Retirement System of Michigan increased its position in shares of Spectrum Pharmaceuticals by 5.6% in the second 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. Finally, Pillar Pacific Capital Management LLC purchased a new position in shares of Spectrum Pharmaceuticals in the second quarter valued at about $138,000. Hedge funds and other institutional investors own 66.09% of the company’s stock.

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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