Spectrum Pharmaceuticals (NASDAQ:SPPI) Director Rajesh C. Md Shrotriya sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, April 4th. The shares were sold at an average price of $15.01, for a total transaction of $450,300.00. Following the transaction, the director now owns 200,652 shares of the company’s stock, valued at approximately $3,011,786.52. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Shares of SPPI stock traded down $0.09 during trading on Thursday, hitting $20.53. 1,904,784 shares of the company were exchanged, compared to its average volume of 1,457,221. The stock has a market cap of $2,132.35, a P/E ratio of -19.81 and a beta of 1.98. Spectrum Pharmaceuticals has a twelve month low of $5.47 and a twelve month high of $23.50.
Spectrum Pharmaceuticals (NASDAQ:SPPI) last posted its quarterly earnings results on Tuesday, March 6th. The biotechnology company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.04). The company had revenue of $28.57 million for the quarter, compared to analyst estimates of $33.18 million. Spectrum Pharmaceuticals had a negative return on equity of 30.68% and a negative net margin of 70.66%. The business’s revenue for the quarter was down 18.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.10) earnings per share. analysts predict that Spectrum Pharmaceuticals will post -1.14 EPS for the current fiscal year.
SPPI has been the subject of several recent analyst reports. BidaskClub cut shares of Spectrum Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Thursday, February 22nd. TheStreet cut shares of Spectrum Pharmaceuticals from a “c-” rating to a “d+” rating in a report on Friday, March 16th. ValuEngine upgraded shares of Spectrum Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. Zacks Investment Research cut shares of Spectrum Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, January 2nd. Finally, HC Wainwright reiterated a “buy” rating and issued a $29.00 target price on shares of Spectrum Pharmaceuticals in a report on Monday, December 18th. One 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’s stock. The company presently has an average rating of “Buy” and a consensus target price of $25.20.
Institutional investors and hedge funds have recently modified their holdings of the stock. Flinton Capital Management LLC raised its position in Spectrum Pharmaceuticals by 111.0% during the fourth quarter. Flinton Capital Management LLC now owns 7,088 shares of the biotechnology company’s stock valued at $134,000 after acquiring an additional 3,728 shares in the last quarter. Jane Street Group LLC bought a new position in shares of Spectrum Pharmaceuticals in the third quarter valued at approximately $152,000. Los Angeles Capital Management & Equity Research Inc. bought a new position in shares of Spectrum Pharmaceuticals in the third quarter valued at approximately $177,000. Meadow Creek Investment Management LLC grew its stake in shares of Spectrum Pharmaceuticals by 111.0% in the fourth quarter. Meadow Creek Investment Management LLC now owns 9,746 shares of the biotechnology company’s stock worth $185,000 after acquiring an additional 5,126 shares during the last quarter. Finally, Hartford Investment Management Co. acquired a new stake in shares of Spectrum Pharmaceuticals in the third quarter worth $317,000. 77.32% of the stock is currently owned by hedge funds and other institutional investors.
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About Spectrum Pharmaceuticals
Spectrum Pharmaceuticals, Inc develops and commercializes oncology and hematology drug products. The company markets six drug products, including FUSILEV for patients with metastatic colorectal cancer and rescue after high-dose methotrexate therapy in osteosarcoma, and to diminish toxicity and counteract the effects of impaired methotrexate elimination and of inadvertent overdosage of folic acid antagonists; FOLOTYN, a folate analogue metabolic inhibitor for peripheral T-cell lymphoma (PTCL); ZEVALIN injection for patients with B-cell non-Hodgkin's lymphoma; MARQIBO, a sphingomyelin/cholesterol liposome-encapsulated formulation for adult patients with Philadelphia chromosome-negative acute lymphoblastic leukemia; BELEODAQ injection for PTCL; and EVOMELA for use as a conditioning treatment prior to autologous stem cell transplant in multiple myeloma patients.
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