Wall Street brokerages expect Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) to report earnings of ($0.23) per share for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Spectrum Pharmaceuticals’ earnings. The highest EPS estimate is ($0.18) and the lowest is ($0.27). Spectrum Pharmaceuticals reported earnings of ($0.22) per share in the same quarter last year, which suggests a negative year over year growth rate of 4.5%. The firm is expected to report its next quarterly earnings results on Monday, November 13th.

On average, analysts expect that Spectrum Pharmaceuticals will report full-year earnings of ($1.02) per share for the current financial year, with EPS estimates ranging from ($1.10) to ($0.93). For the next financial year, analysts anticipate that the firm will report earnings of ($0.79) per share, with EPS estimates ranging from ($0.94) to ($0.63). Zacks’ EPS calculations are an average based on a survey of research analysts that cover Spectrum Pharmaceuticals.

Spectrum Pharmaceuticals (NASDAQ:SPPI) last announced its quarterly earnings results on Thursday, August 3rd. The biotechnology company reported ($0.26) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.27) by $0.01. The company had revenue of $34.30 million for the quarter, compared to analysts’ expectations of $30.50 million. Spectrum Pharmaceuticals had a negative net margin of 59.33% and a negative return on equity of 30.95%. Spectrum Pharmaceuticals’s revenue was up 1.0% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.35) EPS.

Several equities analysts recently weighed in on SPPI shares. Zacks Investment Research upgraded shares of Spectrum Pharmaceuticals from a “hold” rating to a “buy” rating and set a $10.00 price target on the stock in a report on Wednesday, August 9th. ValuEngine upgraded shares of Spectrum Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Thursday, May 11th. HC Wainwright reiterated a “buy” rating and issued a $14.00 price target on shares of Spectrum Pharmaceuticals in a report on Wednesday, August 16th. Jefferies Group LLC increased their price target on shares of Spectrum Pharmaceuticals from $8.50 to $9.00 and gave the stock a “buy” rating in a report on Wednesday, May 3rd. Finally, BidaskClub downgraded shares of Spectrum Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Spectrum Pharmaceuticals currently has an average rating of “Buy” and a consensus price target of $10.80.

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Shares of Spectrum Pharmaceuticals (NASDAQ SPPI) traded up 0.21% during mid-day trading on Wednesday, hitting $9.43. 919,437 shares of the company were exchanged. The company has a 50 day moving average of $8.35 and a 200 day moving average of $6.92. Spectrum Pharmaceuticals has a 52 week low of $3.21 and a 52 week high of $9.70. The company’s market capitalization is $740.97 million.

Several large investors have recently modified their holdings of the company. State of Alaska Department of Revenue boosted its stake in shares of Spectrum Pharmaceuticals by 77.1% in the second quarter. State of Alaska Department of Revenue now owns 13,918 shares of the biotechnology company’s stock worth $103,000 after buying an additional 6,058 shares during the last quarter. Denver Investment Advisors LLC purchased a new stake in shares of Spectrum Pharmaceuticals during the first quarter worth approximately $106,000. Mason Street Advisors LLC boosted its stake in shares of Spectrum Pharmaceuticals by 8.4% in the first quarter. Mason Street Advisors LLC now owns 16,577 shares of the biotechnology company’s stock worth $108,000 after buying an additional 1,279 shares during the last quarter. Piedmont Investment Advisors LLC purchased a new stake in shares of Spectrum Pharmaceuticals during the second quarter worth approximately $114,000. Finally, Municipal Employees Retirement System of Michigan boosted its stake in shares of Spectrum Pharmaceuticals by 5.6% in the second quarter. Municipal Employees Retirement System of Michigan now owns 16,720 shares of the biotechnology company’s stock worth $125,000 after buying an additional 880 shares during the last quarter. 66.09% of the stock is currently owned by institutional investors and hedge funds.

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 a product portfolio consisting of both commercial stage and development stage products that address various cancer types. The Company has six approved oncology/hematology products that target different types of cancer, including non-Hodgkin’s lymphoma (NHL), advanced metastatic colorectal cancer (mCRC), acute lymphoblastic leukemia (ALL) and multiple myeloma (MM).

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

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