Spectrum Pharmaceuticals Inc. (NASDAQ:SPPI) – Analysts at FBR & Co raised their FY2016 EPS estimates for Spectrum Pharmaceuticals in a research report issued on Monday. FBR & Co analyst E. White now expects that the brokerage will post earnings of ($0.99) per share for the year, up from their previous forecast of ($1.09). FBR & Co currently has a “Buy” rating on the stock. FBR & Co also issued estimates for Spectrum Pharmaceuticals’ Q4 2016 earnings at ($0.27) EPS, FY2017 earnings at ($0.81) EPS and FY2018 earnings at ($0.31) EPS.

Spectrum Pharmaceuticals (NASDAQ:SPPI) last announced its earnings results on Monday, November 14th. The biotechnology company reported ($0.22) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.30) by $0.08. Spectrum Pharmaceuticals had a negative return on equity of 14.43% and a negative net margin of 34.19%.

Earnings History and Estimates for Spectrum Pharmaceuticals (NASDAQ:SPPI)

Other analysts also recently issued research reports about the stock. HC Wainwright reiterated a “buy” rating and issued a $10.00 price objective on shares of Spectrum Pharmaceuticals in a report on Friday, November 4th. RBC Capital Markets set a $10.00 price objective on shares of Spectrum Pharmaceuticals and gave the company a “buy” rating in a report on Thursday, September 15th. Finally, Zacks Investment Research downgraded shares of Spectrum Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday, October 28th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $8.10.

Spectrum Pharmaceuticals (NASDAQ:SPPI) traded up 2.459% during mid-day trading on Thursday, hitting $4.375. 152,097 shares of the stock traded hands. The stock has a 50-day moving average price of $4.12 and a 200-day moving average price of $5.83. The stock’s market cap is $352.44 billion. Spectrum Pharmaceuticals has a 12 month low of $3.21 and a 12 month high of $7.74.

Hedge funds have recently added to or reduced their stakes in the stock. Cambridge Investment Research Advisors Inc. increased its stake 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 during the last quarter. Louisiana State Employees Retirement System boosted its stake 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 valued at $177,000 after buying an additional 800 shares during the period. California Public Employees Retirement System boosted its stake 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 valued at $1,181,000 after buying an additional 800 shares during the period. Profund Advisors LLC boosted its stake in Spectrum Pharmaceuticals by 5.2% in the second quarter. Profund Advisors LLC now owns 16,381 shares of the biotechnology company’s stock valued at $108,000 after buying an additional 817 shares during the period. Finally, BlackRock Inc. boosted its stake in Spectrum Pharmaceuticals by 2.6% in the third quarter. BlackRock Inc. now owns 34,464 shares of the biotechnology company’s stock valued at $161,000 after buying an additional 859 shares during the period. Institutional investors own 69.65% of the company’s stock.

Spectrum Pharmaceuticals Company Profile

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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