HC Wainwright reiterated their buy rating on shares of Spectrum Pharmaceuticals Inc. (NASDAQ:SPPI) in a research report report published on Friday morning. The firm currently has a $10.00 price objective on the biotechnology company’s stock.

A number of other equities analysts have also commented on the stock. FBR & Co reissued a buy rating on shares of Spectrum Pharmaceuticals in a research report on Wednesday, August 10th. Zacks Investment Research raised shares of Spectrum Pharmaceuticals from a hold rating to a buy rating and set a $7.00 price target on the stock in a research report on Tuesday, June 28th. Finally, RBC Capital Markets set a $10.00 price target on shares of Spectrum Pharmaceuticals and gave the company a buy rating in a research report on Thursday, September 15th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Spectrum Pharmaceuticals presently has a consensus rating of Buy and a consensus price target of $9.17.

Spectrum Pharmaceuticals (NASDAQ:SPPI) opened at 4.62 on Friday. The stock’s market capitalization is $316.82 million. Spectrum Pharmaceuticals has a 52 week low of $4.14 and a 52 week high of $7.74. The stock has a 50 day moving average of $5.77 and a 200 day moving average of $6.51.

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

Large investors have recently made changes to their positions in the company. Teachers Advisors Inc. increased its stake in shares of 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 last quarter. Prudential Financial Inc. increased its stake in shares of 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 last quarter. BlackRock Group LTD increased its stake in shares of 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 last quarter. Goldman Sachs Group Inc. increased its stake in shares of 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 last quarter. Finally, Geode Capital Management LLC increased its stake in shares of 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 last quarter. Institutional investors and hedge funds 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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