Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) Director Anthony E. Maida III sold 7,250 shares of the company’s stock in a transaction that occurred on Thursday, November 8th. The shares were sold at an average price of $13.07, for a total transaction of $94,757.50. Following the completion of the sale, the director now directly owns 40,238 shares of the company’s stock, valued at approximately $525,910.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Shares of SPPI stock traded up $0.62 during trading hours on Friday, hitting $13.46. 1,440,032 shares of the company were exchanged, compared to its average volume of 1,312,007. Spectrum Pharmaceuticals, Inc. has a 52 week low of $11.52 and a 52 week high of $25.29. The company has a market capitalization of $1.40 billion, a price-to-earnings ratio of -12.58 and a beta of 2.18.

Spectrum Pharmaceuticals (NASDAQ:SPPI) last issued its quarterly earnings data on Thursday, November 8th. The biotechnology company reported ($0.17) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.27) by $0.10. Spectrum Pharmaceuticals had a negative net margin of 41.24% and a negative return on equity of 27.71%. The company had revenue of $25.27 million during the quarter, compared to the consensus estimate of $25.73 million. During the same quarter in the prior year, the firm earned ($0.11) earnings per share. The firm’s revenue was down 30.6% compared to the same quarter last year. As a group, sell-side analysts predict that Spectrum Pharmaceuticals, Inc. will post -0.97 earnings per share for the current fiscal year.

Several hedge funds have recently modified their holdings of the company. Piedmont Investment Advisors LLC increased its position in shares of Spectrum Pharmaceuticals by 13.2% during the second quarter. Piedmont Investment Advisors LLC now owns 21,916 shares of the biotechnology company’s stock worth $459,000 after acquiring an additional 2,552 shares in the last quarter. Meeder Asset Management Inc. increased its position in shares of Spectrum Pharmaceuticals by 134.3% during the second quarter. Meeder Asset Management Inc. now owns 5,448 shares of the biotechnology company’s stock worth $114,000 after acquiring an additional 3,123 shares in the last quarter. Amalgamated Bank increased its position in shares of Spectrum Pharmaceuticals by 28.6% during the second quarter. Amalgamated Bank now owns 15,785 shares of the biotechnology company’s stock worth $331,000 after acquiring an additional 3,508 shares in the last quarter. Metropolitan Life Insurance Co. NY increased its position in shares of Spectrum Pharmaceuticals by 14.8% during the second quarter. Metropolitan Life Insurance Co. NY now owns 32,369 shares of the biotechnology company’s stock worth $678,000 after acquiring an additional 4,181 shares in the last quarter. Finally, Moody Aldrich Partners LLC increased its position in shares of Spectrum Pharmaceuticals by 6.7% during the third quarter. Moody Aldrich Partners LLC now owns 70,935 shares of the biotechnology company’s stock worth $1,192,000 after acquiring an additional 4,437 shares in the last quarter. 83.39% of the stock is owned by institutional investors.

Several brokerages have commented on SPPI. BidaskClub raised shares of Spectrum Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Saturday, November 3rd. ValuEngine downgraded shares of Spectrum Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Thursday, November 1st. Zacks Investment Research downgraded shares of Spectrum Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Monday, October 15th. TheStreet downgraded shares of Spectrum Pharmaceuticals from a “c” rating to a “d+” rating in a research note on Wednesday, September 26th. Finally, B. Riley upped their target price on shares of Spectrum Pharmaceuticals from $26.00 to $35.00 and gave the company a “buy” rating in a research note on Friday, August 31st. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the stock. Spectrum Pharmaceuticals has a consensus rating of “Hold” and a consensus price target of $31.67.

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About Spectrum Pharmaceuticals

Spectrum Pharmaceuticals, Inc develops and commercializes oncology and hematology drug products. The company markets six drug products, including FUSILEV for patients with metastatic colorectal cancer and rescue after high-dose methotrexate therapy in osteosarcoma, and to diminish toxicity and counteract the effects of impaired methotrexate elimination and of inadvertent overdosage of folic acid antagonists; FOLOTYN, a folate analogue metabolic inhibitor for peripheral T-cell lymphoma (PTCL); ZEVALIN injection for patients with B-cell non-Hodgkin's lymphoma; MARQIBO, a sphingomyelin/cholesterol liposome-encapsulated formulation for adult patients with Philadelphia chromosome-negative acute lymphoblastic leukemia; BELEODAQ injection for PTCL; and EVOMELA for use as a conditioning treatment prior to autologous stem cell transplant in multiple myeloma patients.

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Insider Buying and Selling by Quarter for Spectrum Pharmaceuticals (NASDAQ:SPPI)

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