Equities analysts expect that Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) will announce $25.30 million in sales for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Spectrum Pharmaceuticals’ earnings. The lowest sales estimate is $23.70 million and the highest is $26.90 million. Spectrum Pharmaceuticals reported sales of $28.57 million during the same quarter last year, which would suggest a negative year over year growth rate of 11.4%. The company is expected to announce its next earnings report on Tuesday, March 5th.

According to Zacks, analysts expect that Spectrum Pharmaceuticals will report full-year sales of $101.90 million for the current financial year, with estimates ranging from $97.20 million to $108.20 million. For the next financial year, analysts forecast that the firm will post sales of $113.67 million, with estimates ranging from $98.00 million to $122.40 million. Zacks’ sales calculations are an average based on a survey of analysts that follow Spectrum Pharmaceuticals.

Spectrum Pharmaceuticals (NASDAQ:SPPI) last released its quarterly earnings data on Thursday, November 8th. The biotechnology company reported ($0.17) earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.10. The firm had revenue of $25.27 million for the quarter, compared to analyst estimates of $25.73 million. Spectrum Pharmaceuticals had a negative net margin of 41.24% and a negative return on equity of 27.71%. Spectrum Pharmaceuticals’s quarterly revenue was down 30.6% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.11) earnings per share.

SPPI has been the topic of several research reports. BidaskClub lowered shares of Spectrum Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Saturday, September 15th. B. Riley increased their price objective on shares of Spectrum Pharmaceuticals from $26.00 to $35.00 and gave the stock a “buy” rating in a research note on Friday, August 31st. TheStreet upgraded shares of Spectrum Pharmaceuticals from a “d+” rating to a “c” rating in a research note on Monday, August 20th. ValuEngine lowered shares of Spectrum Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 16th. Finally, Zacks Investment Research lowered shares of Spectrum Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Monday, October 15th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $31.67.

In other Spectrum Pharmaceuticals news, Director Anthony E. Maida III sold 7,250 shares of the company’s stock in a transaction dated Thursday, November 8th. The shares were sold at an average price of $13.07, for a total value of $94,757.50. Following the completion of the transaction, the director now owns 40,238 shares in the company, valued at approximately $525,910.66. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Gilles Gagnon sold 10,000 shares of the company’s stock in a transaction dated Tuesday, October 9th. The stock was sold at an average price of $15.33, for a total transaction of $153,300.00. Following the completion of the transaction, the director now owns 72,500 shares of the company’s stock, valued at approximately $1,111,425. The disclosure for this sale can be found here. 9.35% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Trexquant Investment LP bought a new position in Spectrum Pharmaceuticals in the 3rd quarter worth about $316,000. BlackRock Inc. grew its position in Spectrum Pharmaceuticals by 7.8% in 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. Bank of New York Mellon Corp grew its position in Spectrum Pharmaceuticals by 4.5% in 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 during the last quarter. Northeast Financial Consultants Inc bought a new position in Spectrum Pharmaceuticals in the 3rd quarter worth about $168,000. Finally, Swiss National Bank grew its position in Spectrum Pharmaceuticals by 3.6% in the 3rd quarter. Swiss National Bank now owns 163,400 shares of the biotechnology company’s stock worth $2,745,000 after purchasing an additional 5,700 shares during the last quarter. Hedge funds and other institutional investors own 83.39% of the company’s stock.

SPPI traded up $0.62 on Friday, hitting $13.46. 1,440,032 shares of the company’s stock were exchanged, compared to its average volume of 1,312,007. The firm has a market cap of $1.40 billion, a price-to-earnings ratio of -12.58 and a beta of 2.18. Spectrum Pharmaceuticals has a twelve month low of $11.52 and a twelve month high of $25.29.

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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