The Spectrum Pharmaceuticals, Inc. (SPPI) Upgraded by ValuEngine to “Sell”

The Spectrum Pharmaceuticals, Inc. (SPPI) Upgraded by ValuEngine to “Sell”

A number of other research analysts have also recently issued reports on the company. Jefferies Group LLC reissued a buy rating and issued a $7.50 target price on shares of Spectrum Pharmaceuticals in a research note on Friday, March 24th. Zacks Investment Research cut Spectrum Pharmaceuticals from a hold rating to a sell rating in a research note on Wednesday, January 11th. FBR & Co set a $11.00 target price on Spectrum Pharmaceuticals and gave the company a buy rating in a research note on Saturday, March 11th. Finally, HC Wainwright set a $10.00 price target on Spectrum Pharmaceuticals and gave the company a buy rating in a report on Saturday, March 11th. Two equities research analysts have rated the stock with a sell rating and four have assigned a buy rating to the company. The company presently has an average rating of Hold and a consensus price target of $8.90.

ValuEngine upgraded shares of Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) from a strong sell rating to a sell rating in a research note issued to investors on Thursday, May 11th.

Spectrum Pharmaceuticals (NASDAQ:SPPI) opened at 5.96 on Thursday. Spectrum Pharmaceuticals has a 52 week low of $3.21 and a 52 week high of $8.00. The firm’s market cap is $468.00 million. The company has a 50-day moving average of $6.44 and a 200 day moving average of $5.55. Spectrum Pharmaceuticals (NASDAQ:SPPI) last announced its quarterly earnings data on Tuesday, May 2nd. The biotechnology company reported ($0.18) EPS for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.02. Spectrum Pharmaceuticals had a negative return on equity of 13.92% and a negative net margin of 34.19%. The business had revenue of $29.10 million during the quarter, compared to analysts’ expectations of $32.23 million. On average, equities analysts predict that Spectrum Pharmaceuticals will post ($1.08) earnings per share for the current year.

A number of institutional investors have recently made changes to their positions in the company. Metropolitan Life Insurance Co. NY increased its position in shares of Spectrum Pharmaceuticals by 9.5% in the first quarter. Metropolitan Life Insurance Co. NY now owns 58,831 shares of the biotechnology company’s stock worth $382,000 after buying an additional 5,111 shares during the period. State Street Corp increased its position in shares of Spectrum Pharmaceuticals by 45.3% in the first quarter. State Street Corp now owns 2,353,958 shares of the biotechnology company’s stock worth $15,305,000 after buying an additional 733,651 shares during the period. Bank of America Corp DE increased its position in Spectrum Pharmaceuticals by 52.3% in the first quarter. Bank of America Corp DE now owns 231,750 shares of the biotechnology company’s stock valued at $1,507,000 after buying an additional 79,619 shares during the last quarter. Renaissance Technologies LLC increased its position in Spectrum Pharmaceuticals by 9.7% in the first quarter. Renaissance Technologies LLC now owns 5,679,800 shares of the biotechnology company’s stock valued at $36,919,000 after buying an additional 502,488 shares during the last quarter. Finally, UBS Group AG increased its position in Spectrum Pharmaceuticals by 36.6% in the first quarter. UBS Group AG now owns 54,218 shares of the biotechnology company’s stock valued at $353,000 after buying an additional 14,519 shares during the last quarter. 69.31% of the stock is currently owned by hedge funds and other institutional investors. About Spectrum Pharmaceuticals

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).new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:SPPI”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”}); To view ValuEngine’s full report, visit ValuEngine’s official website.

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