Spectrum Pharmaceuticals (SPPI) Rating Increased to C at TheStreet

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Spectrum Pharmaceuticals (NASDAQ:SPPI) was upgraded by research analysts at TheStreet from a “d+” rating to a “c” rating in a report issued on Monday.

SPPI has been the subject of several other reports. Zacks Investment Research upgraded Spectrum Pharmaceuticals from a “hold” rating to a “buy” rating and set a $18.00 target price for the company in a research report on Wednesday, May 9th. ValuEngine upgraded Spectrum Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, May 2nd. BidaskClub upgraded Spectrum Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Friday, May 11th. Finally, HC Wainwright reiterated a “buy” rating and set a $33.00 target price on shares of Spectrum Pharmaceuticals in a research report on Friday, June 29th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $27.20.

NASDAQ:SPPI opened at $23.14 on Monday. Spectrum Pharmaceuticals has a twelve month low of $9.03 and a twelve month high of $24.20. The firm has a market cap of $2.41 billion, a PE ratio of -21.63 and a beta of 1.92.

Spectrum Pharmaceuticals (NASDAQ:SPPI) last released its earnings results on Thursday, August 9th. The biotechnology company reported ($0.21) earnings per share for the quarter, topping the consensus estimate of ($0.23) by $0.02. Spectrum Pharmaceuticals had a negative return on equity of 27.71% and a negative net margin of 41.24%. The business had revenue of $24.17 million during the quarter, compared to the consensus estimate of $27.58 million. During the same period last year, the company earned ($0.11) earnings per share. The business’s revenue for the quarter was down 29.5% compared to the same quarter last year. equities research analysts predict that Spectrum Pharmaceuticals will post -0.94 EPS for the current year.

Several institutional investors have recently made changes to their positions in the company. Piedmont Investment Advisors LLC increased its stake in shares of Spectrum Pharmaceuticals by 13.2% during the second quarter. Piedmont Investment Advisors LLC now owns 21,916 shares of the biotechnology company’s stock valued at $459,000 after buying an additional 2,552 shares during the period. Meeder Asset Management Inc. increased its stake in shares of Spectrum Pharmaceuticals by 134.3% during the second quarter. Meeder Asset Management Inc. now owns 5,448 shares of the biotechnology company’s stock valued at $114,000 after buying an additional 3,123 shares during the period. Amalgamated Bank increased its stake in shares of Spectrum Pharmaceuticals by 28.6% during the second quarter. Amalgamated Bank now owns 15,785 shares of the biotechnology company’s stock valued at $331,000 after buying an additional 3,508 shares during the period. Profund Advisors LLC increased its stake in shares of Spectrum Pharmaceuticals by 25.8% during the first quarter. Profund Advisors LLC now owns 17,593 shares of the biotechnology company’s stock valued at $283,000 after buying an additional 3,610 shares during the period. Finally, Metropolitan Life Insurance Co. NY increased its stake in shares of Spectrum Pharmaceuticals by 14.8% during the second quarter. Metropolitan Life Insurance Co. NY now owns 32,369 shares of the biotechnology company’s stock valued at $678,000 after buying an additional 4,181 shares during the period. Hedge funds and other institutional investors own 84.83% of the company’s stock.

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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