Spectrum Pharmaceuticals (NASDAQ:SPPI) Raised to Hold at StockNews.com

Spectrum Pharmaceuticals (NASDAQ:SPPIGet Rating) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday.

Several other research firms have also recently issued reports on SPPI. B. Riley lowered their price objective on Spectrum Pharmaceuticals from $6.00 to $4.00 and set a “buy” rating for the company in a research report on Monday, March 21st. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Spectrum Pharmaceuticals in a research note on Friday, April 1st. Zacks Investment Research raised Spectrum Pharmaceuticals from a “hold” rating to a “buy” rating and set a $0.75 target price for the company in a research note on Tuesday. Finally, JMP Securities reaffirmed a “buy” rating and issued a $4.00 price objective on shares of Spectrum Pharmaceuticals in a research note on Wednesday, April 13th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $2.92.

Shares of NASDAQ:SPPI traded down $0.03 during trading on Tuesday, reaching $0.71. The stock had a trading volume of 1,361,764 shares, compared to its average volume of 3,784,243. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.95 and a current ratio of 2.38. The business has a fifty day moving average price of $0.99 and a 200-day moving average price of $1.12. The stock has a market cap of $127.79 million, a PE ratio of -0.81 and a beta of 2.23. Spectrum Pharmaceuticals has a 1-year low of $0.60 and a 1-year high of $4.54.

Spectrum Pharmaceuticals (NASDAQ:SPPIGet Rating) last posted its earnings results on Thursday, March 17th. The biotechnology company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.05). During the same quarter in the prior year, the firm posted ($0.36) earnings per share. Sell-side analysts expect that Spectrum Pharmaceuticals will post -0.62 earnings per share for the current year.

Large investors have recently added to or reduced their stakes in the business. Moors & Cabot Inc. purchased a new position in Spectrum Pharmaceuticals in the third quarter valued at about $26,000. Mirabella Financial Services LLP purchased a new position in Spectrum Pharmaceuticals in the first quarter valued at about $27,000. Janus Henderson Group PLC purchased a new position in Spectrum Pharmaceuticals in the third quarter valued at about $34,000. WINTON GROUP Ltd purchased a new position in Spectrum Pharmaceuticals in the first quarter valued at about $35,000. Finally, Acadian Asset Management LLC purchased a new position in Spectrum Pharmaceuticals in the fourth quarter valued at about $36,000. 58.51% of the stock is currently owned by institutional investors.

About Spectrum Pharmaceuticals (Get Rating)

Spectrum Pharmaceuticals, Inc, a biopharmaceutical company, develops and commercializes oncology and hematology drug products. The company's products under development include Eflapegrastim, a novel long-acting granulocyte colony-stimulating factor for chemotherapy-induced neutropenia; Poziotinib, a novel irreversible tyrosine kinase inhibitor for non-small cell lung cancer tumors with various mutations; and Anti-CD20-IFNa, an antibody-interferon fusion molecule directed against CD20 that is in Phase I development for the treatment of patients with relapsed or refractory non-Hodgkin's lymphoma, including diffuse large B-cell lymphoma.

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