Spectrum Pharmaceuticals, Inc. (SPPI) Receives $29.00 Consensus Target Price from Analysts

Shares of Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) have been given an average recommendation of “Buy” by the eight research firms that are covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $29.00.

Several analysts have commented on SPPI shares. HC Wainwright reiterated a “buy” rating and set a $29.00 target price on shares of Spectrum Pharmaceuticals in a research report on Monday, December 18th. B. Riley started coverage on shares of Spectrum Pharmaceuticals in a research report on Monday, December 18th. They set a “buy” rating and a $26.00 target price for the company. Guggenheim started coverage on shares of Spectrum Pharmaceuticals in a research report on Monday, October 23rd. They set a “buy” rating and a $32.00 target price for the company. Jefferies Group upped their target price on shares of Spectrum Pharmaceuticals to $25.00 and gave the company a “buy” rating in a research report on Friday, October 20th. Finally, BidaskClub cut shares of Spectrum Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 3rd.

Several institutional investors and hedge funds have recently added to or reduced their stakes in SPPI. Piedmont Investment Advisors LLC bought a new stake in shares of Spectrum Pharmaceuticals in the 2nd quarter valued at $114,000. Flinton Capital Management LLC increased its position in shares of Spectrum Pharmaceuticals by 111.0% in the 4th quarter. Flinton Capital Management LLC now owns 7,088 shares of the biotechnology company’s stock valued at $134,000 after buying an additional 3,728 shares in the last quarter. Jane Street Group LLC bought a new stake in shares of Spectrum Pharmaceuticals in the 3rd quarter valued at $152,000. Los Angeles Capital Management & Equity Research Inc. bought a new stake in shares of Spectrum Pharmaceuticals in the 3rd quarter valued at $177,000. Finally, Meadow Creek Investment Management LLC increased its position in shares of Spectrum Pharmaceuticals by 111.0% in the 4th quarter. Meadow Creek Investment Management LLC now owns 9,746 shares of the biotechnology company’s stock valued at $185,000 after buying an additional 5,126 shares in the last quarter. Institutional investors and hedge funds own 71.65% of the company’s stock.

Shares of Spectrum Pharmaceuticals (SPPI) traded down $0.47 during trading on Friday, hitting $21.16. 619,002 shares of the company’s stock traded hands, compared to its average volume of 1,052,561. The company has a market cap of $2,177.32, a PE ratio of -21.37 and a beta of 1.64. Spectrum Pharmaceuticals has a 52 week low of $5.47 and a 52 week high of $23.50. The company has a quick ratio of 4.89, a current ratio of 5.04 and a debt-to-equity ratio of 0.33.

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About Spectrum Pharmaceuticals

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).

Analyst Recommendations for Spectrum Pharmaceuticals (NASDAQ:SPPI)

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