Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) was the recipient of some unusual options trading activity on Tuesday. Investors purchased 3,461 call options on the company. This is an increase of approximately 1,588% compared to the average volume of 205 call options.

A number of brokerages have recently issued reports on SPPI. Jefferies Group raised their price target on shares of Spectrum Pharmaceuticals from $13.00 to $18.00 and gave the company a “buy” rating in a report on Monday, October 9th. Zacks Investment Research downgraded shares of Spectrum Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday, August 18th. HC Wainwright reaffirmed a “buy” rating and set a $29.00 price target (up previously from $20.00) on shares of Spectrum Pharmaceuticals in a report on Wednesday, October 18th. Guggenheim began coverage on shares of Spectrum Pharmaceuticals in a report on Monday, October 23rd. They set a “buy” rating and a $32.00 price target on the stock. Finally, ValuEngine raised shares of Spectrum Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday, August 17th. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company. Spectrum Pharmaceuticals currently has an average rating of “Buy” and an average price target of $21.40.

Shares of Spectrum Pharmaceuticals (NASDAQ:SPPI) opened at $19.00 on Friday. The company has a current ratio of 5.04, a quick ratio of 4.89 and a debt-to-equity ratio of 0.33. Spectrum Pharmaceuticals has a 1-year low of $3.95 and a 1-year high of $21.95.

Spectrum Pharmaceuticals (NASDAQ:SPPI) last issued its quarterly earnings data on Thursday, November 2nd. The biotechnology company reported ($0.22) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.16) by ($0.06). Spectrum Pharmaceuticals had a negative return on equity of 29.73% and a negative net margin of 58.94%. The business had revenue of $36.40 million during the quarter, compared to the consensus estimate of $33.27 million. During the same quarter last year, the company earned ($0.07) EPS. Spectrum Pharmaceuticals’s revenue for the quarter was up 9.0% on a year-over-year basis. sell-side analysts forecast that Spectrum Pharmaceuticals will post -1.03 earnings per share for the current year.

Several large investors have recently modified their holdings of the company. Texas Permanent School Fund lifted its stake in shares of Spectrum Pharmaceuticals by 0.7% in the 2nd quarter. Texas Permanent School Fund now owns 51,664 shares of the biotechnology company’s stock worth $385,000 after purchasing an additional 338 shares during the period. Bank of Montreal Can lifted its stake in shares of Spectrum Pharmaceuticals by 0.7% in the 2nd quarter. Bank of Montreal Can now owns 113,035 shares of the biotechnology company’s stock worth $843,000 after purchasing an additional 827 shares during the period. Municipal Employees Retirement System of Michigan lifted its stake in shares of Spectrum Pharmaceuticals by 5.6% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 16,720 shares of the biotechnology company’s stock worth $125,000 after purchasing an additional 880 shares during the period. Thrivent Financial For Lutherans lifted its stake in shares of Spectrum Pharmaceuticals by 4.6% in the 2nd quarter. Thrivent Financial For Lutherans now owns 42,680 shares of the biotechnology company’s stock worth $318,000 after purchasing an additional 1,890 shares during the period. Finally, New York State Teachers Retirement System lifted its stake in shares of Spectrum Pharmaceuticals by 4.6% in the 3rd quarter. New York State Teachers Retirement System now owns 88,795 shares of the biotechnology company’s stock worth $1,249,000 after purchasing an additional 3,900 shares during the period. Hedge funds and other institutional investors own 71.88% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: “Stock Traders Buy Large Volume of Call Options on Spectrum Pharmaceuticals (SPPI)” was originally reported by TheOlympiaReport and is the property of of TheOlympiaReport. If you are reading this article on another website, it was copied illegally and republished in violation of U.S. and international copyright legislation. The original version of this article can be accessed at https://theolympiareport.com/2017/12/08/stock-traders-buy-large-volume-of-call-options-on-spectrum-pharmaceuticals-sppi.html.

About Spectrum Pharmaceuticals

Spectrum Pharmaceuticals, Inc is a biotechnology company. The Company operates through developing and commercializing oncology and hematology drug products segment. It has a product portfolio consisting of both commercial stage and development stage products that address various cancer types. The Company has six approved oncology/hematology products that target different types of cancer, including non-Hodgkin’s lymphoma (NHL), advanced metastatic colorectal cancer (mCRC), acute lymphoblastic leukemia (ALL) and multiple myeloma (MM).

Receive News & Ratings for Spectrum Pharmaceuticals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spectrum Pharmaceuticals Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.