Spectrum Pharmaceuticals (SPPI) Upgraded to “C” by TheStreet

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TheStreet upgraded shares of Spectrum Pharmaceuticals (NASDAQ:SPPI) from a d+ rating to a c rating in a report released on Monday.

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

NASDAQ:SPPI opened at $23.14 on Monday. The stock has a market capitalization of $2.41 billion, a price-to-earnings ratio of -21.63 and a beta of 1.92. Spectrum Pharmaceuticals has a 1-year low of $9.03 and a 1-year high of $24.20.

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

Several hedge funds have recently modified their holdings of SPPI. SG Americas Securities LLC bought a new position in shares of Spectrum Pharmaceuticals during the first quarter worth about $103,000. Meeder Asset Management Inc. lifted its position 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 worth $114,000 after purchasing an additional 3,123 shares during the last quarter. Commonwealth Equity Services LLC bought a new position in shares of Spectrum Pharmaceuticals during the first quarter worth about $184,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Spectrum Pharmaceuticals during the first quarter worth about $184,000. Finally, Hartford Investment Management Co. bought a new position in shares of Spectrum Pharmaceuticals during the second quarter worth about $219,000. 84.83% of the stock is currently owned by institutional investors and hedge funds.

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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