Several other analysts have also issued reports on SPPI. B. Riley set a $18.00 target price on shares of Spectrum Pharmaceuticals and gave the company a buy rating in a research report on Friday, August 23rd. ValuEngine upgraded shares of Spectrum Pharmaceuticals from a hold rating to a buy rating in a research report on Tuesday, September 10th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Spectrum Pharmaceuticals currently has a consensus rating of Buy and an average price target of $23.40.
Shares of NASDAQ SPPI opened at $8.86 on Thursday. The firm has a 50 day moving average of $7.68 and a 200 day moving average of $8.79. The company has a current ratio of 5.37, a quick ratio of 5.37 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of -8.77 and a beta of 2.54. Spectrum Pharmaceuticals has a 12-month low of $6.22 and a 12-month high of $21.80.
Spectrum Pharmaceuticals (NASDAQ:SPPI) last announced its earnings results on Thursday, August 8th. The biotechnology company reported ($0.23) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.36) by $0.13. The company had revenue of ($1.25) million during the quarter, compared to analyst estimates of $0.50 million. Spectrum Pharmaceuticals had a negative net margin of 109.76% and a negative return on equity of 41.95%. The firm’s quarterly revenue was down 105.2% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.21) earnings per share. Sell-side analysts predict that Spectrum Pharmaceuticals will post -1.21 EPS for the current year.
In related news, insider Keith M. Mcgahan sold 3,535 shares of the business’s stock in a transaction that occurred on Wednesday, June 19th. The shares were sold at an average price of $8.49, for a total transaction of $30,012.15. Following the completion of the sale, the insider now directly owns 135,756 shares in the company, valued at $1,152,568.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director William Ashton sold 6,667 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $8.57, for a total transaction of $57,136.19. Following the sale, the director now owns 8,333 shares of the company’s stock, valued at $71,413.81. The disclosure for this sale can be found here. Insiders have sold 10,496 shares of company stock valued at $89,433 over the last 90 days. 9.35% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently bought and sold shares of the business. TRUE Private Wealth Advisors bought a new position in shares of Spectrum Pharmaceuticals in the second quarter worth approximately $34,000. Quantamental Technologies LLC boosted its position in shares of Spectrum Pharmaceuticals by 22.5% in the second quarter. Quantamental Technologies LLC now owns 9,563 shares of the biotechnology company’s stock worth $82,000 after purchasing an additional 1,757 shares during the period. Flinton Capital Management LLC boosted its position in shares of 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 purchasing an additional 1,584 shares during the period. Riverhead Capital Management LLC boosted its position in shares of 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 purchasing an additional 1,700 shares during the period. Finally, Bank of Montreal Can boosted its position in shares of Spectrum Pharmaceuticals by 218.6% in the second quarter. Bank of Montreal Can now owns 13,498 shares of the biotechnology company’s stock worth $116,000 after purchasing an additional 9,262 shares during the period. Institutional investors and hedge funds own 73.25% of the company’s stock.
Spectrum Pharmaceuticals Company Profile
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.
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