Psagot Investment House Ltd. held its position in shares of Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 29,886 shares of the biotechnology company’s stock at the close of the second quarter. Psagot Investment House Ltd.’s holdings in Spectrum Pharmaceuticals were worth $223,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. State of Alaska Department of Revenue lifted its holdings 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 valued at $103,000 after buying an additional 6,058 shares during the period. Mason Street Advisors LLC lifted its holdings 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 valued at $108,000 after buying an additional 1,279 shares during the period. Municipal Employees Retirement System of Michigan lifted its holdings 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 valued at $125,000 after buying an additional 880 shares during the period. Pillar Pacific Capital Management LLC acquired a new stake in shares of Spectrum Pharmaceuticals in the second quarter valued at $138,000. Finally, BNP Paribas Arbitrage SA lifted its holdings in shares of Spectrum Pharmaceuticals by 87.5% in the second quarter. BNP Paribas Arbitrage SA now owns 21,347 shares of the biotechnology company’s stock valued at $159,000 after buying an additional 9,960 shares during the period. 66.09% of the stock is owned by institutional investors.

Several analysts have recently weighed in on SPPI shares. Zacks Investment Research upgraded Spectrum Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Wednesday, July 5th. BidaskClub lowered 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. ValuEngine upgraded Spectrum Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday, August 17th. Finally, Jefferies Group LLC set a $9.00 price objective on Spectrum Pharmaceuticals and gave the company a “buy” rating in a report on Friday, August 25th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company’s stock. Spectrum Pharmaceuticals presently has a consensus rating of “Buy” and a consensus target price of $14.75.

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Shares of Spectrum Pharmaceuticals, Inc. (SPPI) traded down 2.0022% during mid-day trading on Friday, hitting $13.3179. The stock had a trading volume of 152,037 shares. The firm’s 50-day moving average price is $11.27 and its 200 day moving average price is $8.17. Spectrum Pharmaceuticals, Inc. has a 12-month low of $3.21 and a 12-month high of $15.32. The stock’s market cap is $1.05 billion.

Spectrum Pharmaceuticals (NASDAQ:SPPI) last posted its quarterly earnings results on Thursday, August 3rd. The biotechnology company reported ($0.26) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.27) by $0.01. Spectrum Pharmaceuticals had a negative return on equity of 30.95% and a negative net margin of 59.33%. The business had revenue of $34.30 million for the quarter, compared to analyst estimates of $30.50 million. During the same period last year, the company earned ($0.35) EPS. The firm’s revenue was up 1.0% on a year-over-year basis. Equities analysts forecast that Spectrum Pharmaceuticals, Inc. will post ($1.06) EPS for the current fiscal 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).

Institutional Ownership by Quarter for Spectrum Pharmaceuticals (NASDAQ:SPPI)

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