Spectrum Pharmaceuticals Inc. (NASDAQ:SPPI) released its quarterly earnings results on Monday. The biotechnology company reported ($0.22) earnings per share for the quarter, beating the consensus estimate of ($0.30) by $0.08. Spectrum Pharmaceuticals had a negative return on equity of 11.24% and a negative net margin of 36.04%.

Spectrum Pharmaceuticals (NASDAQ:SPPI) opened at 4.40 on Wednesday. The company’s 50 day moving average price is $4.13 and its 200-day moving average price is $5.84. Spectrum Pharmaceuticals has a one year low of $3.21 and a one year high of $7.74. The stock’s market capitalization is $301.73 million.

Earnings History for Spectrum Pharmaceuticals (NASDAQ:SPPI)

A number of hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP raised its stake in Spectrum Pharmaceuticals by 13.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,386,763 shares of the biotechnology company’s stock valued at $9,111,000 after buying an additional 162,704 shares in the last quarter. Vanguard Group Inc. raised its stake in Spectrum Pharmaceuticals by 7.6% in the second quarter. Vanguard Group Inc. now owns 5,624,192 shares of the biotechnology company’s stock valued at $36,951,000 after buying an additional 398,719 shares in the last quarter. BlackRock Advisors LLC raised its stake in Spectrum Pharmaceuticals by 215.9% in the second quarter. BlackRock Advisors LLC now owns 99,210 shares of the biotechnology company’s stock valued at $652,000 after buying an additional 67,802 shares in the last quarter. BlackRock Investment Management LLC raised its stake in Spectrum Pharmaceuticals by 6.2% in the second quarter. BlackRock Investment Management LLC now owns 301,576 shares of the biotechnology company’s stock valued at $1,981,000 after buying an additional 17,567 shares in the last quarter. Finally, BlackRock Inc. raised its stake in Spectrum Pharmaceuticals by 589.6% in the second quarter. BlackRock Inc. now owns 33,605 shares of the biotechnology company’s stock valued at $220,000 after buying an additional 28,732 shares in the last quarter. Institutional investors own 69.65% of the company’s stock.

Several research firms have weighed in on SPPI. HC Wainwright reaffirmed a “buy” rating and issued a $10.00 price target on shares of Spectrum Pharmaceuticals in a report on Friday, November 4th. Zacks Investment Research cut Spectrum Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday, October 28th. FBR & Co reaffirmed a “buy” rating on shares of Spectrum Pharmaceuticals in a report on Thursday, September 15th. Finally, RBC Capital Markets set a $10.00 price target on Spectrum Pharmaceuticals and gave the company a “buy” rating in a report on Thursday, September 15th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $8.10.

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 approximately six approved oncology/hematology products that target different types of non-Hodgkin’s lymphoma (NHL), metastatic colorectal cancer, acute lymphoblastic leukemia (ALL) and multiple myeloma (MM).

5 Day Chart for NASDAQ:SPPI

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