California Public Employees Retirement System continued to hold its stake in Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 155,700 shares of the biotechnology company’s stock at the close of the 2nd quarter. California Public Employees Retirement System owned approximately 0.20% of Spectrum Pharmaceuticals worth $1,160,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in SPPI. Parametric Portfolio Associates LLC raised its stake in Spectrum Pharmaceuticals by 16.6% in the first quarter. Parametric Portfolio Associates LLC now owns 132,064 shares of the biotechnology company’s stock valued at $858,000 after purchasing an additional 18,760 shares in the last quarter. Principal Financial Group Inc. raised its stake in Spectrum Pharmaceuticals by 4.6% in the first quarter. Principal Financial Group Inc. now owns 553,451 shares of the biotechnology company’s stock valued at $3,598,000 after purchasing an additional 24,245 shares in the last quarter. Teachers Advisors LLC raised its stake in Spectrum Pharmaceuticals by 0.5% in the first quarter. Teachers Advisors LLC now owns 1,103,283 shares of the biotechnology company’s stock valued at $7,171,000 after purchasing an additional 5,281 shares in the last quarter. TIAA CREF Investment Management LLC raised its stake in Spectrum Pharmaceuticals by 21.6% in the first quarter. TIAA CREF Investment Management LLC now owns 254,267 shares of the biotechnology company’s stock valued at $1,653,000 after purchasing an additional 45,108 shares in the last quarter. Finally, Legal & General Group Plc raised its stake in Spectrum Pharmaceuticals by 3.1% in the first quarter. Legal & General Group Plc now owns 120,817 shares of the biotechnology company’s stock valued at $785,000 after purchasing an additional 3,627 shares in the last quarter. 66.49% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities research analysts recently weighed in on SPPI shares. BidaskClub downgraded shares of Spectrum Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Zacks Investment Research raised shares of Spectrum Pharmaceuticals from a “hold” rating to a “buy” rating and set a $10.00 target price on the stock in a research note on Wednesday, August 9th. 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. ValuEngine raised shares of Spectrum Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Thursday, August 17th. Finally, Jefferies Group LLC set a $9.00 target price on shares of Spectrum Pharmaceuticals and gave the company a “buy” rating in a research note on Friday, August 25th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. Spectrum Pharmaceuticals presently has an average rating of “Buy” and an average target price of $21.40.

Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) opened at $18.33 on Friday. Spectrum Pharmaceuticals, Inc. has a 52-week low of $3.85 and a 52-week high of $21.95. The company has a quick ratio of 4.89, a current ratio of 5.04 and a debt-to-equity ratio of 0.33.

Spectrum Pharmaceuticals (NASDAQ:SPPI) last issued its quarterly earnings results on Thursday, November 2nd. The biotechnology company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates 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 quarter in the previous year, the business earned ($0.07) earnings per share. The firm’s revenue was up 9.0% on a year-over-year basis. research analysts forecast that Spectrum Pharmaceuticals, Inc. will post -1.03 earnings per share for the current year.

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About Spectrum Pharmaceuticals

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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