Shares of Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) have earned an average recommendation of “Buy” from the nine ratings firms that are covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $23.40.

Several equities analysts have recently issued reports on SPPI shares. Zacks Investment Research raised Spectrum Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday, May 1st. B. Riley started coverage on Spectrum Pharmaceuticals in a research report on Thursday, July 11th. They issued a “buy” rating and a $18.00 price target for the company. ValuEngine raised Spectrum Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Saturday, August 10th. Guggenheim began coverage on Spectrum Pharmaceuticals in a research report on Monday, May 13th. They issued a “buy” rating and a $19.00 price target for the company. Finally, BidaskClub raised Spectrum Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday.

Shares of SPPI traded up $0.21 during trading hours on Wednesday, hitting $8.35. The company had a trading volume of 488,326 shares, compared to its average volume of 895,557. The firm has a fifty day moving average price of $7.88 and a 200-day moving average price of $9.20. The company has a debt-to-equity ratio of 0.04, a quick ratio of 5.37 and a current ratio of 5.37. The stock has a market capitalization of $903.97 million, a price-to-earnings ratio of -8.27 and a beta of 2.57. Spectrum Pharmaceuticals has a 52-week low of $6.22 and a 52-week high of $25.29.

Spectrum Pharmaceuticals (NASDAQ:SPPI) last posted its quarterly earnings results on Thursday, August 8th. The biotechnology company reported ($0.23) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.36) by $0.13. The firm had revenue of ($1.25) million during the quarter, compared to analyst estimates of $0.50 million. Spectrum Pharmaceuticals had a negative return on equity of 41.95% and a negative net margin of 109.76%. Spectrum Pharmaceuticals’s quarterly revenue was down 105.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.21) EPS. Research analysts anticipate that Spectrum Pharmaceuticals will post -1.21 earnings per share for the current fiscal year.

In other Spectrum Pharmaceuticals news, Director Stuart Mitchell Krassner sold 5,071 shares of the business’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $7.94, for a total value of $40,263.74. Following the completion of the transaction, the director now owns 73,015 shares of the company’s stock, valued at approximately $579,739.10. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Keith M. Mcgahan sold 3,535 shares of the business’s stock in a transaction dated Wednesday, June 19th. The stock was sold at an average price of $8.49, for a total value of $30,012.15. Following the completion of the transaction, the insider now directly owns 135,756 shares of the company’s stock, valued at approximately $1,152,568.44. The disclosure for this sale can be found here. In the last three months, insiders sold 76,263 shares of company stock valued at $613,928. 4.17% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. TRUE Private Wealth Advisors purchased a new stake in shares of Spectrum Pharmaceuticals during the 2nd quarter valued at about $34,000. Exane Derivatives grew its stake in shares of Spectrum Pharmaceuticals by 145.9% during the 1st quarter. Exane Derivatives now owns 7,440 shares of the biotechnology company’s stock valued at $80,000 after acquiring an additional 4,414 shares during the period. Quantamental Technologies LLC grew its stake in shares of Spectrum Pharmaceuticals by 243.9% during the 1st quarter. Quantamental Technologies LLC now owns 7,806 shares of the biotechnology company’s stock valued at $83,000 after acquiring an additional 5,536 shares during the period. Two Sigma Investments LP bought a new position in shares of Spectrum Pharmaceuticals during the 4th quarter valued at approximately $91,000. Finally, Flinton Capital Management LLC grew its stake in shares of Spectrum Pharmaceuticals by 15.3% during the 2nd quarter. Flinton Capital Management LLC now owns 11,968 shares of the biotechnology company’s stock valued at $103,000 after acquiring an additional 1,584 shares during the period. 73.58% 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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