Equities research analysts expect Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) to announce sales of $33.05 million for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Spectrum Pharmaceuticals’ earnings. The highest sales estimate is $34.80 million and the lowest is $31.30 million. Spectrum Pharmaceuticals posted sales of $35.24 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 6.2%. The business is expected to report its next quarterly earnings report on Wednesday, March 14th.
On average, analysts expect that Spectrum Pharmaceuticals will report full-year sales of $33.05 million for the current fiscal year, with estimates ranging from $131.10 million to $136.10 million. For the next fiscal year, analysts anticipate that the company will post sales of $131.20 million per share, with estimates ranging from $122.50 million to $139.90 million. Zacks’ sales calculations are a mean average based on a survey of research firms that follow Spectrum Pharmaceuticals.
Spectrum Pharmaceuticals (NASDAQ:SPPI) last released its earnings results on Thursday, November 2nd. The biotechnology company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.06). Spectrum Pharmaceuticals had a negative return on equity of 29.73% and a negative net margin of 58.94%. The firm had revenue of $36.40 million for the quarter, compared to the consensus estimate of $33.27 million. During the same quarter in the previous year, the business posted ($0.07) EPS. Spectrum Pharmaceuticals’s revenue was up 9.0% on a year-over-year basis.
A number of research firms have commented on SPPI. HC Wainwright restated a “buy” rating on shares of Spectrum Pharmaceuticals in a research note on Friday, November 3rd. Guggenheim began coverage on shares of Spectrum Pharmaceuticals in a research note on Monday, October 23rd. They set a “buy” rating and a $32.00 target price on the stock. Jefferies Group LLC raised their target price on shares of Spectrum Pharmaceuticals to $25.00 and gave the stock a “buy” rating in a research note on Friday, October 20th. Zacks Investment Research cut shares of Spectrum Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Wednesday, October 4th. Finally, ValuEngine upgraded shares of Spectrum Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Thursday, August 17th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $21.40.
A number of institutional investors and hedge funds have recently made changes to their positions in SPPI. Parametric Portfolio Associates LLC grew its holdings in Spectrum Pharmaceuticals by 16.6% during the 1st quarter. Parametric Portfolio Associates LLC now owns 132,064 shares of the biotechnology company’s stock valued at $858,000 after buying an additional 18,760 shares in the last quarter. Principal Financial Group Inc. grew its holdings in Spectrum Pharmaceuticals by 4.6% during the 1st quarter. Principal Financial Group Inc. now owns 553,451 shares of the biotechnology company’s stock valued at $3,598,000 after buying an additional 24,245 shares in the last quarter. Teachers Advisors LLC grew its holdings in Spectrum Pharmaceuticals by 0.5% during the 1st quarter. Teachers Advisors LLC now owns 1,103,283 shares of the biotechnology company’s stock valued at $7,171,000 after buying an additional 5,281 shares in the last quarter. TIAA CREF Investment Management LLC grew its holdings in Spectrum Pharmaceuticals by 21.6% during the 1st quarter. TIAA CREF Investment Management LLC now owns 254,267 shares of the biotechnology company’s stock valued at $1,653,000 after buying an additional 45,108 shares in the last quarter. Finally, Legal & General Group Plc grew its holdings in Spectrum Pharmaceuticals by 3.1% during the 1st quarter. Legal & General Group Plc now owns 120,817 shares of the biotechnology company’s stock valued at $785,000 after buying an additional 3,627 shares in the last quarter. 56.04% of the stock is owned by institutional investors and hedge funds.
Spectrum Pharmaceuticals (NASDAQ SPPI) traded down $0.89 during midday trading on Friday, reaching $19.84. 197,957 shares of the company’s stock were exchanged, compared to its average volume of 1,082,430. Spectrum Pharmaceuticals has a 12 month low of $3.85 and a 12 month high of $21.95. The company has a current ratio of 5.04, a quick ratio of 4.89 and a debt-to-equity ratio of 0.33.
TRADEMARK VIOLATION NOTICE: This piece of content was published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are viewing this piece of content on another site, it was stolen and republished in violation of U.S. and international copyright legislation. The legal version of this piece of content can be viewed at https://ledgergazette.com/2017/11/17/spectrum-pharmaceuticals-inc-sppi-expected-to-announce-quarterly-sales-of-33-05-million.html.
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).
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Spectrum Pharmaceuticals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spectrum Pharmaceuticals Inc. and related companies with MarketBeat.com's FREE daily email newsletter.