Shares of Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) have earned a consensus recommendation of “Buy” from the seven brokerages that are covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $11.00.

Several equities research analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Spectrum Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Tuesday, June 6th. ValuEngine upgraded shares of Spectrum Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Thursday, August 17th. BidaskClub lowered shares of Spectrum Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. HC Wainwright restated a “buy” rating and issued a $14.00 price objective on shares of Spectrum Pharmaceuticals in a report on Wednesday, August 16th. Finally, Jefferies Group LLC set a $9.00 price objective on shares of Spectrum Pharmaceuticals and gave the stock a “buy” rating in a report on Thursday, June 8th.

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Several institutional investors and hedge funds have recently made changes to their positions in the company. Texas Permanent School Fund lifted its holdings in shares of Spectrum Pharmaceuticals by 0.5% in the 1st quarter. Texas Permanent School Fund now owns 51,326 shares of the biotechnology company’s stock worth $334,000 after acquiring an additional 267 shares during the last quarter. Louisiana State Employees Retirement System lifted its holdings in shares of Spectrum Pharmaceuticals by 2.8% in the 1st quarter. Louisiana State Employees Retirement System now owns 28,900 shares of the biotechnology company’s stock worth $188,000 after acquiring an additional 800 shares during the last quarter. Bank of Montreal Can lifted its holdings in shares of Spectrum Pharmaceuticals by 0.7% in the 2nd quarter. Bank of Montreal Can now owns 113,035 shares of the biotechnology company’s stock worth $843,000 after acquiring an additional 827 shares during the last quarter. Municipal Employees Retirement System of Michigan lifted its holdings in shares of Spectrum Pharmaceuticals by 5.6% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 16,720 shares of the biotechnology company’s stock worth $125,000 after acquiring an additional 880 shares during the last quarter. Finally, Arizona State Retirement System lifted its holdings in shares of Spectrum Pharmaceuticals by 2.5% in the 1st quarter. Arizona State Retirement System now owns 36,955 shares of the biotechnology company’s stock worth $240,000 after acquiring an additional 900 shares during the last quarter. Hedge funds and other institutional investors own 66.09% of the company’s stock.

Shares of Spectrum Pharmaceuticals (NASDAQ SPPI) traded down 0.59% during trading on Wednesday, reaching $10.09. 565,140 shares of the company’s stock traded hands. Spectrum Pharmaceuticals has a 52-week low of $3.21 and a 52-week high of $10.77. The company’s market cap is $792.83 million. The company’s 50-day moving average is $9.08 and its 200 day moving average is $7.28.

Spectrum Pharmaceuticals (NASDAQ:SPPI) last announced its earnings results on Thursday, August 3rd. The biotechnology company reported ($0.26) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.01. Spectrum Pharmaceuticals had a negative net margin of 59.33% and a negative return on equity of 30.95%. The business had revenue of $34.30 million during the quarter, compared to analyst estimates of $30.50 million. During the same period in the previous year, the business posted ($0.35) earnings per share. Spectrum Pharmaceuticals’s revenue for the quarter was up 1.0% on a year-over-year basis. Equities analysts forecast that Spectrum Pharmaceuticals will post ($1.03) EPS for the current year.

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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