TIAA CREF Investment Management LLC increased its position in shares of Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) by 21.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 254,267 shares of the biotechnology company’s stock after buying an additional 45,108 shares during the period. TIAA CREF Investment Management LLC’s holdings in Spectrum Pharmaceuticals were worth $1,653,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. ClariVest Asset Management LLC bought a new stake in Spectrum Pharmaceuticals during the first quarter worth $1,573,000. Prudential Financial Inc. boosted its stake in shares of Spectrum Pharmaceuticals by 101.5% in the first quarter. Prudential Financial Inc. now owns 379,496 shares of the biotechnology company’s stock worth $2,467,000 after buying an additional 191,180 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Spectrum Pharmaceuticals by 10.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,970,631 shares of the biotechnology company’s stock worth $8,730,000 after buying an additional 181,018 shares during the period. Russell Investments Group Ltd. boosted its stake in shares of Spectrum Pharmaceuticals by 228.2% in the first quarter. Russell Investments Group Ltd. now owns 144,894 shares of the biotechnology company’s stock worth $942,000 after buying an additional 100,745 shares during the period. Finally, Macquarie Group Ltd. boosted its stake in shares of Spectrum Pharmaceuticals by 4.0% in the fourth quarter. Macquarie Group Ltd. now owns 1,800,669 shares of the biotechnology company’s stock worth $7,977,000 after buying an additional 69,087 shares during the period. Institutional investors and hedge funds own 66.57% of the company’s stock.

Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) traded up 3.09% during trading on Friday, hitting $9.02. 195,652 shares of the stock were exchanged. The stock’s market cap is $708.76 million. Spectrum Pharmaceuticals, Inc. has a 52 week low of $3.21 and a 52 week high of $9.27. The stock has a 50 day moving average of $7.77 and a 200-day moving average of $6.55.

Spectrum Pharmaceuticals (NASDAQ:SPPI) last released its quarterly earnings data on Thursday, August 3rd. The biotechnology company reported ($0.26) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.01. The firm had revenue of $34.30 million for the quarter, compared to analysts’ expectations of $30.50 million. Spectrum Pharmaceuticals had a negative net margin of 59.33% and a negative return on equity of 30.95%. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.35) earnings per share. Equities analysts expect that Spectrum Pharmaceuticals, Inc. will post ($1.03) EPS for the current fiscal year.

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SPPI has been the topic of a number of research analyst reports. Jefferies Group LLC upped their price target on shares of Spectrum Pharmaceuticals from $8.50 to $9.00 and gave the company a “buy” rating in a research report on Wednesday, May 3rd. ValuEngine raised shares of Spectrum Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Thursday, May 11th. Zacks Investment Research raised shares of Spectrum Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th. BidaskClub cut shares of Spectrum Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Finally, HC Wainwright set a $10.00 price target on shares of Spectrum Pharmaceuticals and gave the company a “buy” rating in a research report on Saturday, May 6th. One analyst has rated the stock with a sell rating and six have given a buy rating to the company’s stock. Spectrum Pharmaceuticals presently has a consensus rating of “Buy” and a consensus target price of $10.00.

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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