PDT Partners LLC grew its stake in Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) by 15.3% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 142,000 shares of the biotechnology company’s stock after acquiring an additional 18,800 shares during the quarter. PDT Partners LLC owned about 0.18% of Spectrum Pharmaceuticals worth $1,058,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of SPPI. Vanguard Group Inc. increased its stake in shares of Spectrum Pharmaceuticals by 13.8% in the 1st quarter. Vanguard Group Inc. now owns 7,208,723 shares of the biotechnology company’s stock worth $46,858,000 after acquiring an additional 874,871 shares during the last quarter. State Street Corp increased its stake in shares of Spectrum Pharmaceuticals by 45.3% in the 1st quarter. State Street Corp now owns 2,353,958 shares of the biotechnology company’s stock worth $15,305,000 after acquiring an additional 733,651 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Spectrum Pharmaceuticals by 9.7% in the 1st quarter. Renaissance Technologies LLC now owns 5,679,800 shares of the biotechnology company’s stock worth $36,919,000 after acquiring an additional 502,488 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Spectrum Pharmaceuticals by 21.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,674,679 shares of the biotechnology company’s stock worth $19,926,000 after acquiring an additional 463,434 shares during the last quarter. Finally, Kennedy Capital Management Inc. acquired a new stake in shares of Spectrum Pharmaceuticals in the 1st quarter worth $2,054,000. 66.09% of the stock is owned by institutional investors and hedge funds.

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Spectrum Pharmaceuticals, Inc. (SPPI) opened at 14.68 on Friday. The stock’s 50 day moving average price is $10.62 and its 200-day moving average price is $7.90. Spectrum Pharmaceuticals, Inc. has a 12-month low of $3.21 and a 12-month high of $15.32. The stock’s market capitalization is $1.15 billion.

Spectrum Pharmaceuticals (NASDAQ:SPPI) last released its earnings results on Thursday, August 3rd. The biotechnology company reported ($0.26) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.27) by $0.01. The firm had revenue of $34.30 million during the quarter, compared to analyst estimates of $30.50 million. Spectrum Pharmaceuticals had a negative return on equity of 30.95% and a negative net margin of 59.33%. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.35) earnings per share. Analysts expect that Spectrum Pharmaceuticals, Inc. will post ($1.06) earnings per share for the current year.

A number of analysts have issued reports on SPPI shares. Jefferies Group LLC set a $9.00 target price on Spectrum Pharmaceuticals and gave the stock a “buy” rating in a research note on Thursday, June 8th. Zacks Investment Research raised Spectrum Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Wednesday, July 5th. BidaskClub downgraded Spectrum Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. HC Wainwright reaffirmed a “buy” rating and issued a $14.00 target price on shares of Spectrum Pharmaceuticals in a research note on Wednesday, August 16th. Finally, ValuEngine raised Spectrum Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Thursday, August 17th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $13.50.

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).

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

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