Oregon Public Employees Retirement Fund boosted its position in Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) by 29.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 58,934 shares of the biotechnology company’s stock after buying an additional 13,500 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Spectrum Pharmaceuticals were worth $240,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SPPI. Congress Asset Management Co. MA grew its position in Spectrum Pharmaceuticals by 3.5% in the second quarter. Congress Asset Management Co. MA now owns 108,288 shares of the biotechnology company’s stock valued at $366,000 after purchasing an additional 3,620 shares in the last quarter. American International Group Inc. grew its stake in Spectrum Pharmaceuticals by 6.1% in the second quarter. American International Group Inc. now owns 81,489 shares of the biotechnology company’s stock valued at $275,000 after purchasing an additional 4,661 shares in the last quarter. California Public Employees Retirement System increased its position in shares of Spectrum Pharmaceuticals by 2.4% during the 2nd quarter. California Public Employees Retirement System now owns 253,920 shares of the biotechnology company’s stock worth $858,000 after purchasing an additional 6,000 shares during the last quarter. Pacer Advisors Inc. bought a new stake in shares of Spectrum Pharmaceuticals during the 3rd quarter worth approximately $25,000. Finally, Principal Financial Group Inc. boosted its holdings in shares of Spectrum Pharmaceuticals by 0.8% in the 2nd quarter. Principal Financial Group Inc. now owns 894,695 shares of the biotechnology company’s stock valued at $3,024,000 after buying an additional 7,366 shares during the last quarter. Hedge funds and other institutional investors own 49.73% of the company’s stock.

A number of analysts have commented on SPPI shares. BidaskClub cut shares of Spectrum Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, September 25th. JMP Securities began coverage on shares of Spectrum Pharmaceuticals in a research note on Thursday, September 17th. They issued an “outperform” rating and a $12.00 target price for the company. HC Wainwright lowered their price target on Spectrum Pharmaceuticals from $13.00 to $12.00 and set a “buy” rating on the stock in a research report on Monday, October 26th. Finally, Cantor Fitzgerald upped their price objective on Spectrum Pharmaceuticals from $4.00 to $7.00 and gave the company a “neutral” rating in a research note on Tuesday, July 28th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Spectrum Pharmaceuticals currently has a consensus rating of “Buy” and a consensus price target of $8.15.

In other Spectrum Pharmaceuticals news, CEO Joseph W. Turgeon sold 162,473 shares of the company’s stock in a transaction that occurred on Wednesday, November 18th. The shares were sold at an average price of $4.13, for a total value of $671,013.49. Following the completion of the transaction, the chief executive officer now directly owns 528,661 shares in the company, valued at approximately $2,183,369.93. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders have sold a total of 174,498 shares of company stock worth $713,401 over the last three months. Insiders own 5.04% of the company’s stock.

Shares of Spectrum Pharmaceuticals stock opened at $4.32 on Friday. The company’s 50 day moving average price is $3.87 and its two-hundred day moving average price is $3.59. The firm has a market capitalization of $630.38 million, a P/E ratio of -3.54 and a beta of 2.22. Spectrum Pharmaceuticals, Inc. has a fifty-two week low of $1.74 and a fifty-two week high of $10.57.

Spectrum Pharmaceuticals (NASDAQ:SPPI) last announced its quarterly earnings results on Wednesday, November 4th. The biotechnology company reported ($0.37) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.35) by ($0.02). Research analysts expect that Spectrum Pharmaceuticals, Inc. will post -1.39 earnings per share for the current year.

Spectrum Pharmaceuticals Company Profile

Spectrum Pharmaceuticals, Inc, a biopharma company, develops and commercializes oncology and hematology drug products. The company is developing ROLONTIS, a novel long-acting granulocyte colony-stimulating for chemotherapy-induced neutropenia; Poziotinib, a novel irreversible tyrosine kinase inhibitor for non-small cell lung cancer tumors with various mutations; and Anti-CD20-IFNá, an antibody-interferon fusion molecule directed against CD20 that is in Phase I development for the treatment of relapsed or refractory non-Hodgkin's lymphoma patients, including diffuse large B-cell lymphoma.

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Institutional Ownership by Quarter for Spectrum Pharmaceuticals (NASDAQ:SPPI)

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