Spectrum Pharmaceuticals (SPPI) Shares Bought by Goldman Sachs Group Inc.
Goldman Sachs Group Inc. lifted its stake in Spectrum Pharmaceuticals (NASDAQ:SPPI) by 2.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,857,580 shares of the biotechnology company’s stock after purchasing an additional 42,629 shares during the quarter. Goldman Sachs Group Inc.’s holdings in Spectrum Pharmaceuticals were worth $35,202,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently bought and sold shares of SPPI. BlackRock Inc. lifted its position in shares of Spectrum Pharmaceuticals by 33.5% in the fourth quarter. BlackRock Inc. now owns 15,989,930 shares of the biotechnology company’s stock worth $303,008,000 after purchasing an additional 4,012,596 shares in the last quarter. Bogle Investment Management L P DE lifted its position in shares of Spectrum Pharmaceuticals by 176.8% in the fourth quarter. Bogle Investment Management L P DE now owns 639,856 shares of the biotechnology company’s stock worth $12,125,000 after purchasing an additional 408,724 shares in the last quarter. WINTON GROUP Ltd purchased a new stake in shares of Spectrum Pharmaceuticals in the third quarter worth approximately $3,263,000. Wells Fargo & Company MN lifted its position in shares of Spectrum Pharmaceuticals by 23.5% in the third quarter. Wells Fargo & Company MN now owns 949,290 shares of the biotechnology company’s stock worth $13,357,000 after purchasing an additional 180,632 shares in the last quarter. Finally, OxFORD Asset Management LLP purchased a new stake in shares of Spectrum Pharmaceuticals in the third quarter worth approximately $2,149,000. 77.32% of the stock is owned by institutional investors and hedge funds.
A number of research firms have recently issued reports on SPPI. TheStreet lowered shares of Spectrum Pharmaceuticals from a “c-” rating to a “d+” rating in a research report on Friday, March 16th. BidaskClub lowered shares of Spectrum Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Thursday, February 22nd. B. Riley initiated coverage on shares of Spectrum Pharmaceuticals in a research report on Monday, December 18th. They set a “buy” rating and a $26.00 price objective on the stock. HC Wainwright raised their price objective on shares of Spectrum Pharmaceuticals to $33.00 and gave the company a “buy” rating in a research report on Monday, February 5th. Finally, Zacks Investment Research raised shares of Spectrum Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, January 12th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Spectrum Pharmaceuticals has a consensus rating of “Buy” and a consensus price target of $25.20.
Spectrum Pharmaceuticals (NASDAQ:SPPI) last issued its quarterly earnings data on Tuesday, March 6th. The biotechnology company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.04). The business had revenue of $28.57 million for the quarter, compared to the consensus estimate of $33.18 million. Spectrum Pharmaceuticals had a negative net margin of 70.66% and a negative return on equity of 30.68%. Spectrum Pharmaceuticals’s revenue was down 18.9% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.10) EPS. equities analysts predict that Spectrum Pharmaceuticals will post -1.14 earnings per share for the current fiscal year.
Spectrum Pharmaceuticals 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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