Spectrum Pharmaceuticals Inc. (NASDAQ:SPPI) has been given an average recommendation of “Buy” by the six ratings firms that are presently covering the stock. One analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $9.00.

Several research analysts have commented on the stock. HC Wainwright reissued a “buy” rating and issued a $10.00 price target on shares of Spectrum Pharmaceuticals in a report on Friday, September 16th. FBR & Co reissued a “buy” rating on shares of Spectrum Pharmaceuticals in a report on Thursday, September 15th. RBC Capital Markets set a $10.00 price target on shares of Spectrum Pharmaceuticals and gave the company a “buy” rating in a report on Thursday, September 15th. Finally, Zacks Investment Research raised shares of Spectrum Pharmaceuticals from a “hold” rating to a “buy” rating and set a $7.00 price target for the company in a report on Tuesday, June 28th.

Spectrum Pharmaceuticals (NASDAQ:SPPI) opened at 4.47 on Monday. The firm’s market capitalization is $306.53 million. Spectrum Pharmaceuticals has a one year low of $4.14 and a one year high of $7.74. The stock’s 50 day moving average is $5.70 and its 200 day moving average is $6.49.

Spectrum Pharmaceuticals (NASDAQ:SPPI) last released its quarterly earnings data on Tuesday, August 9th. The biotechnology company reported ($0.05) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.29) by $0.24. The company earned $33.90 million during the quarter, compared to the consensus estimate of $30.88 million. Spectrum Pharmaceuticals had a negative net margin of 36.04% and a negative return on equity of 11.24%. Spectrum Pharmaceuticals’s revenue for the quarter was down 24.6% on a year-over-year basis. During the same period last year, the firm earned ($0.01) EPS. On average, equities research analysts predict that Spectrum Pharmaceuticals will post ($1.11) earnings per share for the current fiscal year.

Hedge funds have recently bought and sold shares of the stock. Teachers Advisors Inc. boosted its stake in Spectrum Pharmaceuticals by 22.6% in the first quarter. Teachers Advisors Inc. now owns 963,076 shares of the biotechnology company’s stock valued at $6,125,000 after buying an additional 177,700 shares during the period. Prudential Financial Inc. boosted its stake in Spectrum Pharmaceuticals by 3.0% in the first quarter. Prudential Financial Inc. now owns 139,766 shares of the biotechnology company’s stock valued at $889,000 after buying an additional 4,100 shares during the period. BlackRock Group LTD boosted its stake in Spectrum Pharmaceuticals by 3.5% in the first quarter. BlackRock Group LTD now owns 119,903 shares of the biotechnology company’s stock valued at $763,000 after buying an additional 4,097 shares during the period. Goldman Sachs Group Inc. boosted its stake in Spectrum Pharmaceuticals by 6.7% in the first quarter. Goldman Sachs Group Inc. now owns 1,457,857 shares of the biotechnology company’s stock valued at $9,272,000 after buying an additional 91,447 shares during the period. Finally, Geode Capital Management LLC boosted its stake in Spectrum Pharmaceuticals by 0.9% in the first quarter. Geode Capital Management LLC now owns 393,699 shares of the biotechnology company’s stock valued at $2,503,000 after buying an additional 3,699 shares during the period. Hedge funds and other institutional investors own 68.67% of the company’s stock.

About Spectrum Pharmaceuticals

Spectrum Pharmaceuticals, Inc is a biotechnology company. The Company operates through developing and commercializing oncology and hematology drug products segment. It has approximately six approved oncology/hematology products that target different types of non-Hodgkin’s lymphoma (NHL), metastatic colorectal cancer, acute lymphoblastic leukemia (ALL) and multiple myeloma (MM).

5 Day Chart for NASDAQ:SPPI

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