Tekla Capital Management LLC purchased a new stake in Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 114,670 shares of the biotechnology company’s stock, valued at approximately $1,926,000. Tekla Capital Management LLC owned approximately 0.11% of Spectrum Pharmaceuticals as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also bought and sold shares of SPPI. BlackRock Inc. lifted its stake in Spectrum Pharmaceuticals by 9.7% during the second quarter. BlackRock Inc. now owns 16,527,226 shares of the biotechnology company’s stock worth $346,411,000 after purchasing an additional 1,463,249 shares during the last quarter. International Biotechnology Trust PLC bought a new stake in Spectrum Pharmaceuticals during the second quarter worth about $6,285,000. Moody Aldrich Partners LLC bought a new stake in Spectrum Pharmaceuticals during the second quarter worth about $1,394,000. MetLife Investment Advisors LLC lifted its stake in Spectrum Pharmaceuticals by 12.8% during the second quarter. MetLife Investment Advisors LLC now owns 45,835 shares of the biotechnology company’s stock worth $961,000 after purchasing an additional 5,188 shares during the last quarter. Finally, Rhumbline Advisers lifted its stake in Spectrum Pharmaceuticals by 6.4% during the second quarter. Rhumbline Advisers now owns 230,884 shares of the biotechnology company’s stock worth $4,839,000 after purchasing an additional 13,812 shares during the last quarter. Institutional investors and hedge funds own 82.14% of the company’s stock.

In other news, Director Gilles Gagnon sold 10,000 shares of the business’s stock in a transaction dated Tuesday, October 9th. The stock was sold at an average price of $15.33, for a total value of $153,300.00. Following the completion of the sale, the director now owns 72,500 shares of the company’s stock, valued at approximately $1,111,425. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Anthony E. Maida III sold 7,250 shares of the business’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 sale, the director now directly owns 40,238 shares of the company’s stock, valued at approximately $525,910.66. The disclosure for this sale can be found here. Insiders own 9.35% of the company’s stock.

NASDAQ SPPI opened at $13.07 on Wednesday. Spectrum Pharmaceuticals, Inc. has a 1-year low of $11.52 and a 1-year high of $25.29. The stock has a market capitalization of $1.55 billion, a PE ratio of -12.21 and a beta of 2.19.

Spectrum Pharmaceuticals (NASDAQ:SPPI) last released its earnings results on Thursday, November 8th. The biotechnology company reported ($0.17) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.10. Spectrum Pharmaceuticals had a negative return on equity of 27.72% and a negative net margin of 91.56%. The company had revenue of $25.27 million during the quarter, compared to analyst estimates of $25.73 million. During the same quarter in the previous year, the company posted ($0.11) EPS. Spectrum Pharmaceuticals’s revenue for the quarter was down 30.6% on a year-over-year basis. On average, analysts expect that Spectrum Pharmaceuticals, Inc. will post -0.9 earnings per share for the current year.

Several equities research analysts have issued reports on the company. BidaskClub raised Spectrum Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday. ValuEngine raised Spectrum Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Saturday. Zacks Investment Research reaffirmed a “hold” rating on shares of Spectrum Pharmaceuticals in a research note on Friday, November 16th. B. Riley dropped their price target on Spectrum Pharmaceuticals from $35.00 to $29.00 and set a “buy” rating for the company in a research note on Monday, November 12th. Finally, TheStreet lowered Spectrum Pharmaceuticals from a “c” rating to a “d+” rating in a research note on Wednesday, September 26th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $29.67.

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

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