Equities research analysts expect Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) to announce sales of $34.00 million for the current quarter, Zacks reports. Two analysts have provided estimates for Spectrum Pharmaceuticals’ earnings, with the lowest sales estimate coming in at $33.20 million and the highest estimate coming in at $34.80 million. Spectrum Pharmaceuticals reported sales of $35.24 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 3.5%. The firm is scheduled to announce its next earnings results on Wednesday, March 14th.

According to Zacks, analysts expect that Spectrum Pharmaceuticals will report full year sales of $34.00 million for the current fiscal year, with estimates ranging from $128.70 million to $134.60 million. For the next financial year, analysts anticipate that the business will report sales of $130.20 million per share, with estimates ranging from $125.00 million to $139.90 million. Zacks’ sales averages are a mean average based on a survey of analysts that that provide coverage for Spectrum Pharmaceuticals.

A number of analysts recently commented on SPPI shares. HC Wainwright reiterated a “buy” rating and issued a $29.00 target price (up from $20.00) on shares of Spectrum Pharmaceuticals in a report on Wednesday, October 18th. Jefferies Group boosted their target price on shares of Spectrum Pharmaceuticals to $25.00 and gave the stock a “buy” rating in a report on Friday, October 20th. Guggenheim started coverage on shares of Spectrum Pharmaceuticals in a report on Monday, October 23rd. They issued a “buy” rating and a $32.00 target price on the stock. B. Riley started coverage on shares of Spectrum Pharmaceuticals in a report on Monday, December 18th. They issued a “buy” rating and a $26.00 target price on the stock. Finally, Zacks Investment Research lowered shares of Spectrum Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, January 2nd. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $22.83.

Several hedge funds have recently added to or reduced their stakes in SPPI. Piedmont Investment Advisors LLC acquired a new stake in shares of Spectrum Pharmaceuticals during the second quarter valued at approximately $114,000. Jane Street Group LLC acquired a new stake in shares of Spectrum Pharmaceuticals during the third quarter valued at approximately $152,000. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in shares of Spectrum Pharmaceuticals during the third quarter valued at approximately $177,000. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Spectrum Pharmaceuticals during the third quarter valued at approximately $192,000. Finally, Crossmark Global Holdings Inc. acquired a new stake in shares of Spectrum Pharmaceuticals during the third quarter valued at approximately $212,000. Institutional investors and hedge funds own 71.65% of the company’s stock.

Shares of Spectrum Pharmaceuticals (NASDAQ:SPPI) opened at $20.17 on Monday. The company has a current ratio of 5.04, a quick ratio of 4.89 and a debt-to-equity ratio of 0.33. Spectrum Pharmaceuticals has a fifty-two week low of $5.14 and a fifty-two week high of $23.50.

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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 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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