Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) COO Thomas J. Riga sold 2,388 shares of the stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $8.82, for a total transaction of $21,062.16. Following the completion of the transaction, the chief operating officer now owns 258,035 shares in the company, valued at $2,275,868.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Shares of SPPI stock opened at $8.78 on Wednesday. The firm has a market cap of $966.24 million, a PE ratio of -8.69 and a beta of 2.58. Spectrum Pharmaceuticals, Inc. has a one year low of $6.22 and a one year high of $25.29.

Spectrum Pharmaceuticals (NASDAQ:SPPI) last announced its quarterly earnings data on Thursday, May 9th. The biotechnology company reported ($0.27) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.23) by ($0.04). Spectrum Pharmaceuticals had a negative net margin of 109.76% and a negative return on equity of 37.72%. During the same quarter in the prior year, the company earned ($0.15) EPS. On average, analysts anticipate that Spectrum Pharmaceuticals, Inc. will post -1.63 earnings per share for the current fiscal year.

SPPI has been the topic of several recent research reports. BidaskClub upgraded shares of Spectrum Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Tuesday. Guggenheim initiated coverage on shares of Spectrum Pharmaceuticals in a research report on Monday. They issued a “buy” rating and a $19.00 price target on the stock. Jefferies Financial Group reiterated a “buy” rating and issued a $21.00 price target on shares of Spectrum Pharmaceuticals in a research report on Friday, March 15th. Cantor Fitzgerald initiated coverage on shares of Spectrum Pharmaceuticals in a research report on Thursday, February 7th. They issued an “overweight” rating and a $19.00 price target on the stock. Finally, Zacks Investment Research upgraded shares of Spectrum Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday, May 1st. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $23.33.

Hedge funds have recently made changes to their positions in the company. Exane Derivatives bought a new stake in shares of Spectrum Pharmaceuticals during the 4th quarter valued at $26,000. Oregon Public Employees Retirement Fund bought a new stake in shares of Spectrum Pharmaceuticals during the 4th quarter valued at $39,000. First Mercantile Trust Co. raised its position in shares of Spectrum Pharmaceuticals by 69.1% during the 4th quarter. First Mercantile Trust Co. now owns 4,795 shares of the biotechnology company’s stock valued at $42,000 after purchasing an additional 1,960 shares during the period. LS Investment Advisors LLC raised its position in shares of Spectrum Pharmaceuticals by 100.6% during the 4th quarter. LS Investment Advisors LLC now owns 6,460 shares of the biotechnology company’s stock valued at $57,000 after purchasing an additional 3,239 shares during the period. Finally, Quantamental Technologies LLC raised its position in shares of Spectrum Pharmaceuticals by 243.9% during the 1st quarter. Quantamental Technologies LLC now owns 7,806 shares of the biotechnology company’s stock valued at $83,000 after purchasing an additional 5,536 shares during the period. Hedge funds and other institutional investors own 77.50% of the company’s stock.

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About Spectrum Pharmaceuticals

Spectrum Pharmaceuticals, Inc develops and commercializes oncology and hematology drug products. The company offers KHAPZORY, a novel folate analog and the pharmacologically active levo-isomer of d, and 1-leucovorin; FOLOTYN, a folate analogue metabolic inhibitor for peripheral T-cell lymphoma (PTCL); ZEVALIN injection to treat non-Hodgkin's lymphoma; MARQIBO for adult patients with Philadelphia chromosome-negative acute lymphoblastic leukemia; BELEODAQ, a histone deacytelase, or HDAC, inhibitor for the treatment of patients with relapsed or refractory PTCL; and EVOMELA for use as a conditioning treatment prior to autologous stem cell transplant in multiple myeloma patients.

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Insider Buying and Selling by Quarter for Spectrum Pharmaceuticals (NASDAQ:SPPI)

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