Profund Advisors LLC grew its holdings in Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) by 25.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 17,593 shares of the biotechnology company’s stock after acquiring an additional 3,610 shares during the period. Profund Advisors LLC’s holdings in Spectrum Pharmaceuticals were worth $283,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. SG Americas Securities LLC bought a new position in Spectrum Pharmaceuticals in the first quarter worth approximately $103,000. Flinton Capital Management LLC raised its position in shares of Spectrum Pharmaceuticals by 111.0% during the 4th quarter. Flinton Capital Management LLC now owns 7,088 shares of the biotechnology company’s stock valued at $134,000 after purchasing an additional 3,728 shares during the period. Meadow Creek Investment Management LLC raised its position in shares of Spectrum Pharmaceuticals by 111.0% during the 4th quarter. Meadow Creek Investment Management LLC now owns 9,746 shares of the biotechnology company’s stock valued at $185,000 after purchasing an additional 5,126 shares during the period. GSA Capital Partners LLP bought a new stake in shares of Spectrum Pharmaceuticals during the 1st quarter valued at $273,000. Finally, Leucadia National Corp bought a new stake in shares of Spectrum Pharmaceuticals during the 4th quarter valued at $359,000. Institutional investors and hedge funds own 77.15% of the company’s stock.
Shares of SPPI stock opened at $19.33 on Friday. Spectrum Pharmaceuticals, Inc. has a one year low of $7.12 and a one year high of $23.50.
Spectrum Pharmaceuticals (NASDAQ:SPPI) last announced its quarterly earnings data on Thursday, May 3rd. The biotechnology company reported ($0.16) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.35) by $0.19. The firm had revenue of $30.50 million for the quarter, compared to the consensus estimate of $25.68 million. Spectrum Pharmaceuticals had a negative net margin of 64.39% and a negative return on equity of 29.47%. The company’s revenue was up 4.8% on a year-over-year basis. During the same period last year, the firm earned ($0.14) EPS. sell-side analysts expect that Spectrum Pharmaceuticals, Inc. will post -0.91 earnings per share for the current year.
Several analysts have recently commented on SPPI shares. Zacks Investment Research downgraded shares of Spectrum Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Monday, April 16th. TheStreet downgraded shares of Spectrum Pharmaceuticals from a “c-” rating to a “d+” rating in a research report on Friday, March 16th. ValuEngine upgraded shares of Spectrum Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Finally, BidaskClub upgraded shares of Spectrum Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Friday, May 11th. One investment analyst has rated the stock with a sell rating, five have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $27.20.
In other Spectrum Pharmaceuticals news, Director Stuart Mitchell Krassner sold 21,113 shares of Spectrum Pharmaceuticals stock in a transaction on Thursday, May 17th. The shares were sold at an average price of $18.94, for a total value of $399,880.22. Following the sale, the director now directly owns 57,944 shares in the company, valued at approximately $1,097,459.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Joseph W. Turgeon sold 4,810 shares of Spectrum Pharmaceuticals stock in a transaction on Wednesday, March 28th. The shares were sold at an average price of $16.40, for a total transaction of $78,884.00. Following the completion of the sale, the chief executive officer now owns 328,074 shares in the company, valued at $5,380,413.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 872,496 shares of company stock worth $15,142,175. 9.35% of the stock is currently owned by insiders.
Spectrum Pharmaceuticals Company Profile
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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