Spectrum Pharmaceuticals Inc. (NASDAQ:SPPI)‘s stock had its “buy” rating reissued by analysts at FBR & Co in a research note issued on Thursday.

SPPI has been the topic of a number of other research reports. Zacks Investment Research raised Spectrum Pharmaceuticals from a “hold” rating to a “buy” rating and set a $7.00 target price on the stock in a research note on Tuesday, June 28th. RBC Capital Markets set a $10.00 target price on Spectrum Pharmaceuticals and gave the company a “buy” rating in a research note on Thursday. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Spectrum Pharmaceuticals presently has a consensus rating of “Buy” and a consensus price target of $9.17.

Shares of Spectrum Pharmaceuticals (NASDAQ:SPPI) opened at 4.82 on Thursday. The stock has a 50 day moving average price of $6.02 and a 200-day moving average price of $6.50. The firm’s market capitalization is $330.53 million. Spectrum Pharmaceuticals has a 52 week low of $4.14 and a 52 week high of $7.74.

Spectrum Pharmaceuticals (NASDAQ:SPPI) last announced its quarterly earnings results 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 business had revenue of $33.90 million for the quarter, compared to analyst estimates of $30.88 million. Spectrum Pharmaceuticals had a negative return on equity of 11.24% and a negative net margin of 36.04%. The company’s quarterly revenue was down 24.6% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.01) EPS. Equities analysts anticipate that Spectrum Pharmaceuticals will post ($1.11) earnings per share for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the company. Acadian Asset Management LLC raised its position in shares of Spectrum Pharmaceuticals by 31.6% in the second quarter. Acadian Asset Management LLC now owns 2,744,434 shares of the biotechnology company’s stock worth $18,033,000 after buying an additional 658,825 shares in the last quarter. Prudential Financial Inc. raised its position 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 worth $889,000 after buying an additional 4,100 shares in the last quarter. Sector Gamma AS raised its position in shares of Spectrum Pharmaceuticals by 4.7% in the first quarter. Sector Gamma AS now owns 79,600 shares of the biotechnology company’s stock worth $506,000 after buying an additional 3,600 shares in the last quarter. SECOR Capital Advisors LP acquired a new position in shares of Spectrum Pharmaceuticals during the second quarter worth $1,436,000. Finally, Goldman Sachs Group Inc. raised its position 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 worth $9,272,000 after buying an additional 91,447 shares in the last quarter. 68.78% of the stock is currently owned by institutional investors.

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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