Analysts expect Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) to post ($0.23) earnings per share (EPS) for the current quarter, according to Zacks. Two analysts have issued estimates for Spectrum Pharmaceuticals’ earnings. Spectrum Pharmaceuticals reported earnings of ($0.15) per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 53.3%. The firm is expected to report its next quarterly earnings results on Thursday, May 2nd.

According to Zacks, analysts expect that Spectrum Pharmaceuticals will report full-year earnings of ($1.48) per share for the current year. For the next financial year, analysts expect that the company will report earnings of ($1.02) per share. Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that follow Spectrum Pharmaceuticals.

Spectrum Pharmaceuticals (NASDAQ:SPPI) last posted its quarterly earnings results on Thursday, February 28th. The biotechnology company reported ($0.34) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.22) by ($0.12). Spectrum Pharmaceuticals had a negative net margin of 109.76% and a negative return on equity of 31.79%. The firm had revenue of $29.40 million for the quarter, compared to analysts’ expectations of $26.60 million.

A number of brokerages have recently weighed in on SPPI. BidaskClub downgraded shares of Spectrum Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Thursday, December 20th. ValuEngine upgraded Spectrum Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Saturday, January 5th. B. Riley lowered their price target on Spectrum Pharmaceuticals to $21.00 and set a “buy” rating for the company in a research report on Thursday, December 20th. HC Wainwright restated a “buy” rating and issued a $40.00 price target on shares of Spectrum Pharmaceuticals in a research report on Thursday, January 10th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $21.00 price target on shares of Spectrum Pharmaceuticals in a research report on Friday, March 15th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $24.20.

SPPI stock traded down $0.50 during trading on Thursday, reaching $10.26. 42,158 shares of the stock traded hands, compared to its average volume of 979,376. Spectrum Pharmaceuticals has a 52-week low of $6.22 and a 52-week high of $25.29. The company has a market cap of $1.21 billion, a PE ratio of -10.15 and a beta of 2.70.

In other Spectrum Pharmaceuticals news, Director Anthony E. Maida III sold 7,250 shares of Spectrum Pharmaceuticals stock in a transaction on Thursday, January 24th. The shares were sold at an average price of $10.37, for a total transaction of $75,182.50. Following the completion of the sale, the director now owns 34,538 shares of the company’s stock, valued at approximately $358,159.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Joseph W. Turgeon sold 36,311 shares of Spectrum Pharmaceuticals stock in a transaction on Friday, January 11th. The stock was sold at an average price of $10.87, for a total transaction of $394,700.57. Following the sale, the chief executive officer now directly owns 449,943 shares of the company’s stock, valued at approximately $4,890,880.41. The disclosure for this sale can be found here. In the last three months, insiders sold 153,542 shares of company stock valued at $1,638,495. 9.35% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp grew its position in shares of Spectrum Pharmaceuticals by 4.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,156,085 shares of the biotechnology company’s stock worth $19,423,000 after purchasing an additional 50,157 shares in the last quarter. BlackRock Inc. increased its stake in shares of Spectrum Pharmaceuticals by 7.8% during the 3rd quarter. BlackRock Inc. now owns 17,820,045 shares of the biotechnology company’s stock worth $299,375,000 after purchasing an additional 1,292,819 shares during the last quarter. Jefferies Group LLC acquired a new position in shares of Spectrum Pharmaceuticals during the 3rd quarter worth about $223,000. Jane Street Group LLC acquired a new position in shares of Spectrum Pharmaceuticals during the 3rd quarter worth about $294,000. Finally, Pacer Advisors Inc. acquired a new position in shares of Spectrum Pharmaceuticals during the 3rd quarter worth about $202,000. 77.85% of the stock is owned by hedge funds and other institutional investors.

Spectrum Pharmaceuticals Company Profile

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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Earnings History and Estimates for Spectrum Pharmaceuticals (NASDAQ:SPPI)

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