Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) Receives Consensus Recommendation of “Buy” from Analysts

Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPIGet Rating) has been given a consensus recommendation of “Buy” by the six ratings firms that are presently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $4.69.

A number of research firms have recently weighed in on SPPI. HC Wainwright reaffirmed a “buy” rating and set a $10.00 price target on shares of Spectrum Pharmaceuticals in a report on Friday. StockNews.com raised Spectrum Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Tuesday, May 24th. B. Riley cut their price target on Spectrum Pharmaceuticals from $6.00 to $4.00 and set a “buy” rating on the stock in a report on Monday, March 21st. Zacks Investment Research raised Spectrum Pharmaceuticals from a “hold” rating to a “buy” rating and set a $0.75 price target on the stock in a report on Tuesday, May 24th. Finally, JMP Securities reaffirmed a “buy” rating and set a $4.00 price target on shares of Spectrum Pharmaceuticals in a report on Wednesday, April 13th.

NASDAQ SPPI traded up $0.03 during trading hours on Friday, reaching $0.74. The company’s stock had a trading volume of 2,114,816 shares, compared to its average volume of 1,765,586. The company has a current ratio of 2.38, a quick ratio of 2.38 and a debt-to-equity ratio of 0.10. The business has a 50-day simple moving average of $0.98 and a 200 day simple moving average of $1.09. Spectrum Pharmaceuticals has a 52 week low of $0.60 and a 52 week high of $4.54. The stock has a market cap of $132.91 million, a PE ratio of -0.84 and a beta of 2.23.

Spectrum Pharmaceuticals (NASDAQ:SPPIGet Rating) last issued its earnings results on Thursday, March 17th. The biotechnology company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.05). During the same period in the previous year, the company earned ($0.36) EPS. As a group, equities analysts predict that Spectrum Pharmaceuticals will post -0.55 EPS for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of SPPI. Moors & Cabot Inc. acquired a new position in Spectrum Pharmaceuticals in the third quarter worth approximately $26,000. Mirabella Financial Services LLP acquired a new position in Spectrum Pharmaceuticals in the first quarter worth approximately $27,000. Janus Henderson Group PLC acquired a new position in Spectrum Pharmaceuticals in the third quarter worth approximately $34,000. WINTON GROUP Ltd acquired a new position in Spectrum Pharmaceuticals in the first quarter worth approximately $35,000. Finally, Acadian Asset Management LLC acquired a new position in Spectrum Pharmaceuticals in the fourth quarter worth approximately $36,000. Institutional investors and hedge funds own 58.51% of the company’s stock.

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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