Spectrum Pharmaceuticals (NASDAQ:SPPI) was upgraded by investment analysts at BidaskClub from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, BidAskClub reports.

A number of other brokerages have also weighed in on SPPI. ValuEngine lowered shares of Spectrum Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Monday, February 4th. Cantor Fitzgerald assumed coverage on shares of Spectrum Pharmaceuticals in a report on Thursday, February 7th. They issued an “overweight” rating and a $19.00 price target for the company. Jefferies Financial Group reissued a “buy” rating and issued a $21.00 price target on shares of Spectrum Pharmaceuticals in a report on Friday, March 15th. Zacks Investment Research raised shares of Spectrum Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Wednesday, May 1st. Finally, Guggenheim assumed coverage on shares of Spectrum Pharmaceuticals in a report on Monday. They issued a “buy” rating and a $19.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Spectrum Pharmaceuticals has a consensus rating of “Buy” and a consensus target price of $24.00.

NASDAQ SPPI opened at $8.78 on Tuesday. The company has a market cap of $966.24 million, a PE ratio of -8.69 and a beta of 2.58. Spectrum Pharmaceuticals has a 1-year low of $6.22 and a 1-year high of $25.29.

Spectrum Pharmaceuticals (NASDAQ:SPPI) last issued its quarterly earnings results on Thursday, May 9th. The biotechnology company reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.04). Spectrum Pharmaceuticals had a negative net margin of 109.76% and a negative return on equity of 37.72%. During the same quarter last year, the business posted ($0.15) earnings per share. Equities research analysts forecast that Spectrum Pharmaceuticals will post -1.63 EPS for the current year.

In other Spectrum Pharmaceuticals news, Director Anthony E. Maida III sold 10,738 shares of Spectrum Pharmaceuticals stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $10.67, for a total transaction of $114,574.46. Following the completion of the sale, the director now owns 22,250 shares of the company’s stock, valued at approximately $237,407.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Anthony E. Maida III sold 5,500 shares of Spectrum Pharmaceuticals stock in a transaction on Thursday, February 21st. The stock was sold at an average price of $11.63, for a total transaction of $63,965.00. Following the sale, the director now directly owns 38,488 shares of the company’s stock, valued at approximately $447,615.44. The disclosure for this sale can be found here. Insiders have sold a total of 81,081 shares of company stock valued at $853,290 in the last ninety days. Company insiders own 9.35% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Exane Derivatives acquired a new stake in Spectrum Pharmaceuticals during the 4th quarter worth $26,000. First Mercantile Trust Co. grew its holdings in Spectrum Pharmaceuticals by 69.1% during the 4th quarter. First Mercantile Trust Co. now owns 4,795 shares of the biotechnology company’s stock worth $42,000 after acquiring an additional 1,960 shares during the period. LS Investment Advisors LLC grew its holdings in Spectrum Pharmaceuticals by 100.6% during the 4th quarter. LS Investment Advisors LLC now owns 6,460 shares of the biotechnology company’s stock worth $57,000 after acquiring an additional 3,239 shares during the period. Quantamental Technologies LLC grew its holdings in Spectrum Pharmaceuticals by 243.9% during the 1st quarter. Quantamental Technologies LLC now owns 7,806 shares of the biotechnology company’s stock worth $83,000 after acquiring an additional 5,536 shares during the period. Finally, Flinton Capital Management LLC grew its holdings in Spectrum Pharmaceuticals by 20.2% during the 4th quarter. Flinton Capital Management LLC now owns 10,384 shares of the biotechnology company’s stock worth $91,000 after acquiring an additional 1,744 shares during the period. 77.50% of the stock is owned by hedge funds and other institutional investors.

About Spectrum Pharmaceuticals

Spectrum Pharmaceuticals, Inc develops and commercializes oncology and hematology drug products. The company offers KHAPZORY, a novel folate analog and the pharmacologically active levo-isomer of d, and 1-leucovorin; FOLOTYN, a folate analogue metabolic inhibitor for peripheral T-cell lymphoma (PTCL); ZEVALIN injection to treat non-Hodgkin's lymphoma; MARQIBO for adult patients with Philadelphia chromosome-negative acute lymphoblastic leukemia; BELEODAQ, a histone deacytelase, or HDAC, inhibitor for the treatment of patients with relapsed or refractory PTCL; and EVOMELA for use as a conditioning treatment prior to autologous stem cell transplant in multiple myeloma patients.

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Analyst Recommendations for Spectrum Pharmaceuticals (NASDAQ:SPPI)

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