Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) has received a consensus rating of “Buy” from the eight brokerages that are covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $10.15.

SPPI has been the subject of a number of recent research reports. Guggenheim cut shares of Spectrum Pharmaceuticals from a “buy” rating to a “neutral” rating in a research report on Thursday, December 26th. ValuEngine upgraded shares of Spectrum Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Friday, January 3rd. Zacks Investment Research cut shares of Spectrum Pharmaceuticals from a “buy” rating to a “hold” rating and set a $3.75 target price for the company. in a research report on Friday, January 3rd. Cantor Fitzgerald reiterated a “neutral” rating and issued a $4.00 target price (down from $17.00) on shares of Spectrum Pharmaceuticals in a research report on Thursday, December 26th. Finally, B. Riley reduced their target price on shares of Spectrum Pharmaceuticals from $18.00 to $11.00 and set a “buy” rating for the company in a research report on Friday, December 27th.

Shares of Spectrum Pharmaceuticals stock traded up $0.06 during trading hours on Friday, reaching $3.37. 38,888 shares of the company’s stock were exchanged, compared to its average volume of 4,312,426. Spectrum Pharmaceuticals has a 1 year low of $3.05 and a 1 year high of $12.15. The company has a market capitalization of $382.97 million, a P/E ratio of -3.31 and a beta of 2.43. The business has a fifty day moving average of $6.67 and a two-hundred day moving average of $7.72.

Spectrum Pharmaceuticals (NASDAQ:SPPI) last issued its earnings results on Thursday, November 7th. The biotechnology company reported ($0.23) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.31) by $0.08. During the same quarter last year, the firm earned ($0.24) earnings per share. As a group, research analysts anticipate that Spectrum Pharmaceuticals will post -1.09 EPS for the current fiscal year.

In related news, insider Francois Lebel sold 6,963 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $8.16, for a total transaction of $56,818.08. Following the completion of the sale, the insider now directly owns 113,970 shares in the company, valued at $929,995.20. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 9.35% of the stock is currently owned by company insiders.

Institutional investors have recently made changes to their positions in the company. Wells Fargo & Company MN lifted its stake in Spectrum Pharmaceuticals by 0.3% during the second quarter. Wells Fargo & Company MN now owns 669,922 shares of the biotechnology company’s stock worth $5,768,000 after purchasing an additional 2,007 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Spectrum Pharmaceuticals by 2.0% during the second quarter. JPMorgan Chase & Co. now owns 237,536 shares of the biotechnology company’s stock worth $2,069,000 after purchasing an additional 4,697 shares during the last quarter. Prudential Financial Inc. lifted its stake in Spectrum Pharmaceuticals by 23.6% during the second quarter. Prudential Financial Inc. now owns 209,593 shares of the biotechnology company’s stock worth $1,805,000 after purchasing an additional 40,070 shares during the last quarter. Bank of Montreal Can lifted its stake in Spectrum Pharmaceuticals by 218.6% during the second quarter. Bank of Montreal Can now owns 13,498 shares of the biotechnology company’s stock worth $116,000 after purchasing an additional 9,262 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Spectrum Pharmaceuticals by 6.2% during the second quarter. Charles Schwab Investment Management Inc. now owns 636,173 shares of the biotechnology company’s stock worth $5,478,000 after purchasing an additional 37,173 shares during the last quarter. 73.35% of the stock is owned by institutional investors and hedge funds.

About Spectrum Pharmaceuticals

Spectrum Pharmaceuticals, Inc develops and commercializes oncology and hematology drug products. The company offers KHAPZORY, a novel folate analog and the pharmacologically active levo-isomer of d, and 1-leucovorin; FOLOTYN, a folate analogue metabolic inhibitor for peripheral T-cell lymphoma (PTCL); ZEVALIN injection to treat non-Hodgkin's lymphoma; MARQIBO for adult patients with Philadelphia chromosome-negative acute lymphoblastic leukemia; BELEODAQ, a histone deacytelase, or HDAC, inhibitor for the treatment of patients with relapsed or refractory PTCL; and EVOMELA for use as a conditioning treatment prior to autologous stem cell transplant in multiple myeloma patients.

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Analyst Recommendations for Spectrum Pharmaceuticals (NASDAQ:SPPI)

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