Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI – Get 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 %
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
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.
- Get a free copy of the StockNews.com research report on Spectrum Pharmaceuticals (SPPI)
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