Swiss National Bank raised its position in shares of Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) by 13.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 134,200 shares of the biotechnology company’s stock after buying an additional 15,400 shares during the quarter. Swiss National Bank owned about 0.17% of Spectrum Pharmaceuticals worth $1,000,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Principal Financial Group Inc. lifted its position in Spectrum Pharmaceuticals by 4.6% during the first quarter. Principal Financial Group Inc. now owns 553,451 shares of the biotechnology company’s stock valued at $3,598,000 after buying an additional 24,245 shares during the period. State of Tennessee Treasury Department lifted its position in Spectrum Pharmaceuticals by 17.8% during the first quarter. State of Tennessee Treasury Department now owns 66,461 shares of the biotechnology company’s stock valued at $432,000 after buying an additional 10,030 shares during the period. Thrivent Financial For Lutherans lifted its position in Spectrum Pharmaceuticals by 8.5% during the first quarter. Thrivent Financial For Lutherans now owns 40,790 shares of the biotechnology company’s stock valued at $265,000 after buying an additional 3,190 shares during the period. Mason Street Advisors LLC lifted its position in Spectrum Pharmaceuticals by 8.4% during the first quarter. Mason Street Advisors LLC now owns 16,577 shares of the biotechnology company’s stock valued at $108,000 after buying an additional 1,279 shares during the period. Finally, Great West Life Assurance Co. Can lifted its position in Spectrum Pharmaceuticals by 6.6% during the first quarter. Great West Life Assurance Co. Can now owns 93,232 shares of the biotechnology company’s stock valued at $605,000 after buying an additional 5,755 shares during the period. 66.09% of the stock is owned by institutional investors and hedge funds.

Spectrum Pharmaceuticals, Inc. (SPPI) opened at 13.94 on Tuesday. The stock has a 50 day moving average price of $11.45 and a 200 day moving average price of $8.24. Spectrum Pharmaceuticals, Inc. has a 52-week low of $3.21 and a 52-week high of $15.32. The stock’s market cap is $1.10 billion.

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

Several brokerages have commented on SPPI. HC Wainwright raised their price objective on Spectrum Pharmaceuticals from $14.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, October 4th. Zacks Investment Research lowered Spectrum Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Wednesday, October 4th. Jefferies Group LLC lifted their price target on Spectrum Pharmaceuticals from $13.00 to $18.00 and gave the stock a “buy” rating in a research report on Monday, October 9th. ValuEngine raised Spectrum Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Thursday, August 17th. Finally, BidaskClub lowered Spectrum Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $14.75.

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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).

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

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