Spectrum Pharmaceuticals, Inc. to Post FY2022 Earnings of ($0.50) Per Share, Cantor Fitzgerald Forecasts (NASDAQ:SPPI)

Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPIGet Rating) – Analysts at Cantor Fitzgerald issued their FY2022 earnings estimates for shares of Spectrum Pharmaceuticals in a research note issued on Wednesday, June 8th. Cantor Fitzgerald analyst P. Agrawal forecasts that the biotechnology company will post earnings of ($0.50) per share for the year. Cantor Fitzgerald currently has a “Neutral” rating on the stock. Cantor Fitzgerald also issued estimates for Spectrum Pharmaceuticals’ FY2023 earnings at ($0.18) EPS.

A number of other research firms also recently weighed in on SPPI. StockNews.com upgraded Spectrum Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Tuesday, May 24th. Zacks Investment Research upgraded Spectrum Pharmaceuticals from a “hold” rating to a “buy” rating and set a $0.75 price objective for the company in a report on Tuesday, May 24th. B. Riley dropped their price objective on Spectrum Pharmaceuticals from $6.00 to $4.00 and set a “buy” rating for the company in a report on Monday, March 21st. HC Wainwright reiterated a “buy” rating and issued a $10.00 price objective on shares of Spectrum Pharmaceuticals in a report on Friday, May 27th. Finally, JMP Securities reiterated a “buy” rating and issued a $4.00 price objective on shares of Spectrum Pharmaceuticals in a report on Tuesday. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Spectrum Pharmaceuticals currently has an average rating of “Buy” and a consensus price target of $4.69.

Shares of SPPI opened at $0.91 on Friday. The company has a market cap of $164.60 million, a price-to-earnings ratio of -1.04 and a beta of 2.24. Spectrum Pharmaceuticals has a 52-week low of $0.60 and a 52-week high of $4.54. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.38 and a current ratio of 2.38. The stock has a fifty day moving average price of $0.90 and a two-hundred day moving average price of $1.03.

Spectrum Pharmaceuticals (NASDAQ:SPPIGet Rating) last announced its quarterly earnings data on Thursday, March 17th. The biotechnology company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.05). During the same period in the prior year, the business earned ($0.36) earnings per share.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Qube Research & Technologies Ltd bought a new stake in Spectrum Pharmaceuticals in the fourth quarter valued at approximately $56,000. Journey Strategic Wealth LLC bought a new position in shares of Spectrum Pharmaceuticals during the fourth quarter worth approximately $54,000. AXA S.A. increased its stake in shares of Spectrum Pharmaceuticals by 45.3% during the third quarter. AXA S.A. now owns 397,800 shares of the biotechnology company’s stock worth $867,000 after purchasing an additional 124,000 shares during the period. Two Sigma Securities LLC bought a new position in shares of Spectrum Pharmaceuticals during the third quarter worth approximately $45,000. Finally, Fisher Asset Management LLC increased its stake in shares of Spectrum Pharmaceuticals by 842.0% during the fourth quarter. Fisher Asset Management LLC now owns 545,198 shares of the biotechnology company’s stock worth $692,000 after purchasing an additional 487,323 shares during the period. 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.

Further Reading

Earnings History and Estimates for Spectrum Pharmaceuticals (NASDAQ:SPPI)

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