Shares of Spectrum Pharmaceuticals Inc. (NASDAQ:SPPI) were down 1.7% on Tuesday . The stock traded as low as $4.60 and last traded at $4.64, with a volume of 518,278 shares traded. The stock had previously closed at $4.72.

Several analysts have recently weighed in on SPPI shares. HC Wainwright reiterated a “buy” rating and set a $10.00 target price on shares of Spectrum Pharmaceuticals in a research report on Friday. FBR & Co reiterated a “buy” rating on shares of Spectrum Pharmaceuticals in a research report on Thursday, September 15th. RBC Capital Markets set a $10.00 target price on Spectrum Pharmaceuticals and gave the stock a “buy” rating in a research report on Thursday, September 15th. Finally, Zacks Investment Research upgraded Spectrum Pharmaceuticals from a “hold” rating to a “buy” rating and set a $7.00 target price for the company in a research report on Tuesday, June 28th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $9.17.

The firm’s 50 day moving average is $5.77 and its 200-day moving average is $6.51. The stock’s market capitalization is $316.82 million.

Spectrum Pharmaceuticals (NASDAQ:SPPI) last issued 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. Spectrum Pharmaceuticals had a negative return on equity of 11.24% and a negative net margin of 36.04%. The firm earned $33.90 million during the quarter, compared to analysts’ expectations of $30.88 million. During the same period in the previous year, the business earned ($0.01) earnings per share. The firm’s revenue for the quarter was down 24.6% on a year-over-year basis. Analysts anticipate that Spectrum Pharmaceuticals Inc. will post ($1.11) EPS for the current fiscal year.

Hedge funds have recently modified their holdings of the stock. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Spectrum Pharmaceuticals by 0.5% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 36,915 shares of the biotechnology company’s stock valued at $243,000 after buying an additional 196 shares during the last quarter. Louisiana State Employees Retirement System boosted its stake in shares of Spectrum Pharmaceuticals by 3.1% in the second quarter. Louisiana State Employees Retirement System now owns 27,000 shares of the biotechnology company’s stock valued at $177,000 after buying an additional 800 shares during the last quarter. California Public Employees Retirement System boosted its stake in shares of Spectrum Pharmaceuticals by 0.4% in the second quarter. California Public Employees Retirement System now owns 179,800 shares of the biotechnology company’s stock valued at $1,181,000 after buying an additional 800 shares during the last quarter. Profund Advisors LLC boosted its stake in shares of Spectrum Pharmaceuticals by 5.2% in the second quarter. Profund Advisors LLC now owns 16,381 shares of the biotechnology company’s stock valued at $108,000 after buying an additional 817 shares during the last quarter. Finally, Comerica Bank boosted its stake in shares of Spectrum Pharmaceuticals by 1.7% in the second quarter. Comerica Bank now owns 60,743 shares of the biotechnology company’s stock valued at $429,000 after buying an additional 1,036 shares during the last quarter. Institutional investors own 68.78% of the company’s stock.

Spectrum Pharmaceuticals Company Profile

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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