HC Wainwright reissued their buy rating on shares of Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) in a research note issued to investors on Friday.

A number of other equities research analysts have also issued reports on the stock. Zacks Investment Research raised shares of Spectrum Pharmaceuticals from a hold rating to a buy rating and set a $10.00 price target on the stock in a report on Wednesday, August 9th. BidaskClub lowered shares of Spectrum Pharmaceuticals from a strong-buy rating to a buy rating in a report on Monday, July 31st. Guggenheim assumed coverage on shares of Spectrum Pharmaceuticals in a report on Monday, October 23rd. They issued a buy rating and a $32.00 price target on the stock. Jefferies Group LLC raised their price target on shares of Spectrum Pharmaceuticals to $25.00 and gave the stock a buy rating in a report on Friday, October 20th. Finally, ValuEngine raised shares of Spectrum Pharmaceuticals from a sell rating to a hold rating in a report on Thursday, August 17th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. The stock has an average rating of Buy and a consensus target price of $21.40.

Spectrum Pharmaceuticals (NASDAQ:SPPI) traded up $0.12 during mid-day trading on Friday, hitting $19.78. 71,711 shares of the company traded hands, compared to its average volume of 2,693,480. The company has a debt-to-equity ratio of 0.33, a quick ratio of 4.89 and a current ratio of 5.04. Spectrum Pharmaceuticals has a 52 week low of $3.34 and a 52 week high of $21.95.

Spectrum Pharmaceuticals (NASDAQ:SPPI) last released its earnings results on Thursday, November 2nd. The biotechnology company reported ($0.22) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.16) by ($0.06). Spectrum Pharmaceuticals had a negative net margin of 58.94% and a negative return on equity of 29.73%. The business had revenue of $36.40 million for the quarter, compared to the consensus estimate of $33.27 million. During the same period in the prior year, the business posted ($0.07) EPS. Spectrum Pharmaceuticals’s revenue for the quarter was up 9.0% on a year-over-year basis. research analysts expect that Spectrum Pharmaceuticals will post -1 earnings per share for the current year.

TRADEMARK VIOLATION NOTICE: “HC Wainwright Reaffirms Buy Rating for Spectrum Pharmaceuticals, Inc. (SPPI)” was originally published by Watch List News and is the property of of Watch List News. If you are viewing this report on another site, it was stolen and republished in violation of U.S. & international copyright & trademark law. The original version of this report can be read at https://www.watchlistnews.com/hc-wainwright-reaffirms-buy-rating-for-spectrum-pharmaceuticals-inc-sppi/1683127.html.

Several large investors have recently bought and sold shares of SPPI. State of Alaska Department of Revenue lifted its position in shares of Spectrum Pharmaceuticals by 77.1% in the 2nd quarter. State of Alaska Department of Revenue now owns 13,918 shares of the biotechnology company’s stock worth $103,000 after purchasing an additional 6,058 shares during the period. Piedmont Investment Advisors LLC purchased a new stake in shares of Spectrum Pharmaceuticals in the 2nd quarter worth about $114,000. Municipal Employees Retirement System of Michigan lifted its position in shares of Spectrum Pharmaceuticals by 5.6% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 16,720 shares of the biotechnology company’s stock worth $125,000 after purchasing an additional 880 shares during the period. Pillar Pacific Capital Management LLC purchased a new stake in shares of Spectrum Pharmaceuticals in the 2nd quarter worth about $138,000. Finally, BNP Paribas Arbitrage SA lifted its position in shares of Spectrum Pharmaceuticals by 87.5% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 21,347 shares of the biotechnology company’s stock worth $159,000 after purchasing an additional 9,960 shares during the period. 66.49% of the stock is owned by hedge funds and other institutional investors.

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 a product portfolio consisting of both commercial stage and development stage products that address various cancer types. The Company has six approved oncology/hematology products that target different types of cancer, including non-Hodgkin’s lymphoma (NHL), advanced metastatic colorectal cancer (mCRC), acute lymphoblastic leukemia (ALL) and multiple myeloma (MM).

Receive News & Ratings for Spectrum Pharmaceuticals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spectrum Pharmaceuticals Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.