Swiss National Bank increased its holdings in Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) by 3.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 163,400 shares of the biotechnology company’s stock after acquiring an additional 5,700 shares during the period. Swiss National Bank owned approximately 0.15% of Spectrum Pharmaceuticals worth $2,745,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. BlackRock Inc. boosted its position in shares of Spectrum Pharmaceuticals by 9.7% during the second quarter. BlackRock Inc. now owns 16,527,226 shares of the biotechnology company’s stock worth $346,411,000 after buying an additional 1,463,249 shares during the period. Northern Trust Corp boosted its position in shares of Spectrum Pharmaceuticals by 17.2% during the second quarter. Northern Trust Corp now owns 1,263,899 shares of the biotechnology company’s stock worth $26,492,000 after buying an additional 185,849 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Spectrum Pharmaceuticals by 3.2% during the second quarter. Bank of New York Mellon Corp now owns 1,105,928 shares of the biotechnology company’s stock worth $23,180,000 after buying an additional 34,070 shares during the period. Wells Fargo & Company MN boosted its position in shares of Spectrum Pharmaceuticals by 5.3% during the second quarter. Wells Fargo & Company MN now owns 1,080,740 shares of the biotechnology company’s stock worth $22,652,000 after buying an additional 53,948 shares during the period. Finally, Voya Investment Management LLC boosted its position in shares of Spectrum Pharmaceuticals by 1,336.1% during the second quarter. Voya Investment Management LLC now owns 927,211 shares of the biotechnology company’s stock worth $19,434,000 after buying an additional 862,647 shares during the period. Institutional investors own 82.14% of the company’s stock.
In other Spectrum Pharmaceuticals news, Director Anthony E. Maida III sold 7,250 shares of the firm’s stock in a transaction on Thursday, November 8th. The stock was sold at an average price of $13.07, for a total value of $94,757.50. Following the sale, the director now directly owns 40,238 shares in the company, valued at $525,910.66. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Gilles Gagnon sold 10,000 shares of the firm’s stock in a transaction on Tuesday, October 9th. The shares were sold at an average price of $15.33, for a total value of $153,300.00. Following the completion of the sale, the director now owns 72,500 shares in the company, valued at $1,111,425. The disclosure for this sale can be found here. 9.35% of the stock is currently owned by company insiders.
Shares of NASDAQ SPPI opened at $13.07 on Wednesday. The firm has a market capitalization of $1.55 billion, a PE ratio of -12.21 and a beta of 2.19. Spectrum Pharmaceuticals, Inc. has a 12-month low of $11.52 and a 12-month high of $25.29.
Spectrum Pharmaceuticals (NASDAQ:SPPI) last announced its quarterly earnings data on Thursday, November 8th. The biotechnology company reported ($0.17) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.10. The business had revenue of $25.27 million for the quarter, compared to analysts’ expectations of $25.73 million. Spectrum Pharmaceuticals had a negative return on equity of 27.72% and a negative net margin of 91.56%. The company’s revenue for the quarter was down 30.6% compared to the same quarter last year. During the same period last year, the firm earned ($0.11) earnings per share. Analysts anticipate that Spectrum Pharmaceuticals, Inc. will post -0.9 EPS for the current year.
Several research analysts have recently commented on the company. BidaskClub upgraded Spectrum Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday, August 29th. TheStreet lowered Spectrum Pharmaceuticals from a “c” rating to a “d+” rating in a research report on Wednesday, September 26th. ValuEngine upgraded Spectrum Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Saturday. Zacks Investment Research lowered Spectrum Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Monday, October 15th. Finally, B. Riley reduced their price objective on Spectrum Pharmaceuticals from $35.00 to $29.00 and set a “buy” rating on the stock in a research note on Monday, November 12th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $29.67.
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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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