Brokers Set Expectations for Spectrum Pharmaceuticals, Inc.’s FY2022 Earnings (NASDAQ:SPPI)

Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPIGet Rating) – Investment analysts at B. Riley lifted their FY2022 EPS estimates for shares of Spectrum Pharmaceuticals in a report issued on Wednesday, November 16th. B. Riley analyst M. Mamtani now anticipates that the biotechnology company will post earnings of ($0.44) per share for the year, up from their previous estimate of ($0.54). B. Riley has a “Neutral” rating and a $1.00 price target on the stock. The consensus estimate for Spectrum Pharmaceuticals’ current full-year earnings is ($0.52) per share. B. Riley also issued estimates for Spectrum Pharmaceuticals’ Q4 2022 earnings at ($0.11) EPS, FY2023 earnings at ($0.33) EPS and FY2024 earnings at ($0.20) EPS.

Several other equities research analysts have also issued reports on SPPI. StockNews.com started coverage on shares of Spectrum Pharmaceuticals in a research note on Sunday, November 13th. They issued a “sell” rating on the stock. HC Wainwright lowered their price target on shares of Spectrum Pharmaceuticals from $12.00 to $9.00 and set a “buy” rating on the stock in a research note on Tuesday, September 20th. Finally, JMP Securities reiterated a “buy” rating and issued a $4.00 price target on shares of Spectrum Pharmaceuticals in a research note on Friday, September 23rd. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Spectrum Pharmaceuticals currently has a consensus rating of “Hold” and a consensus target price of $4.67.

Spectrum Pharmaceuticals Trading Down 2.8 %

SPPI opened at $0.44 on Friday. Spectrum Pharmaceuticals has a 12 month low of $0.36 and a 12 month high of $1.81. The firm’s fifty day simple moving average is $0.53 and its 200 day simple moving average is $0.79. The stock has a market capitalization of $82.30 million, a P/E ratio of -0.68 and a beta of 2.04.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SPPI. BNP Paribas Arbitrage SA increased its stake in shares of Spectrum Pharmaceuticals by 108.3% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 31,652 shares of the biotechnology company’s stock worth $25,000 after purchasing an additional 16,460 shares during the last quarter. Mirabella Financial Services LLP acquired a new position in shares of Spectrum Pharmaceuticals during the 1st quarter worth about $27,000. WINTON GROUP Ltd acquired a new position in shares of Spectrum Pharmaceuticals during the 1st quarter worth about $35,000. Laurion Capital Management LP acquired a new position in shares of Spectrum Pharmaceuticals during the 2nd quarter worth about $47,000. Finally, Virtu Financial LLC acquired a new position in shares of Spectrum Pharmaceuticals during the 2nd quarter worth about $48,000. 31.10% of the stock is currently owned by institutional investors and hedge funds.

Spectrum Pharmaceuticals Company Profile

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

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