Spectrum Pharmaceuticals Inc. (NASDAQ:SPPI) shares traded up 1.3% on Monday following a stronger than expected earnings report. The stock traded as high as $4.53 and last traded at $4.56, with a volume of 442,494 shares trading hands. The stock had previously closed at $4.50.

The biotechnology company reported ($0.22) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.30) by $0.08. Spectrum Pharmaceuticals had a negative net margin of 36.04% and a negative return on equity of 11.24%.

A number of analysts recently commented on the stock. HC Wainwright restated a “buy” rating and issued a $10.00 price objective on shares of Spectrum Pharmaceuticals in a research report on Friday, November 4th. Zacks Investment Research cut shares of Spectrum Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Friday, October 28th. FBR & Co reiterated a “buy” rating on shares of Spectrum Pharmaceuticals in a report on Thursday, September 15th. Finally, RBC Capital Markets set a $10.00 target price on Spectrum Pharmaceuticals and gave the stock a “buy” rating in a report on Thursday, September 15th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Spectrum Pharmaceuticals presently has a consensus rating of “Buy” and a consensus target price of $8.10.

A number of institutional investors have recently added to or reduced their stakes in SPPI. Cambridge Investment Research Advisors Inc. increased its position in Spectrum Pharmaceuticals by 0.5% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 36,915 shares of the biotechnology company’s stock worth $243,000 after buying an additional 196 shares in the last quarter. Louisiana State Employees Retirement System increased its position in Spectrum Pharmaceuticals by 3.1% in the second quarter. Louisiana State Employees Retirement System now owns 27,000 shares of the biotechnology company’s stock worth $177,000 after buying an additional 800 shares in the last quarter. California Public Employees Retirement System increased its position in Spectrum Pharmaceuticals by 0.4% in the second quarter. California Public Employees Retirement System now owns 179,800 shares of the biotechnology company’s stock worth $1,181,000 after buying an additional 800 shares in the last quarter. Profund Advisors LLC increased its position in Spectrum Pharmaceuticals by 5.2% in the second quarter. Profund Advisors LLC now owns 16,381 shares of the biotechnology company’s stock worth $108,000 after buying an additional 817 shares in the last quarter. Finally, BlackRock Inc. increased its position in Spectrum Pharmaceuticals by 2.6% in the third quarter. BlackRock Inc. now owns 34,464 shares of the biotechnology company’s stock worth $161,000 after buying an additional 859 shares in the last quarter. Hedge funds and other institutional investors own 69.65% of the company’s stock.

The company has a 50-day moving average price of $4.13 and a 200-day moving average price of $5.84. The firm’s market capitalization is $301.73 million.

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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