Brokerages Expect Spectrum Pharmaceuticals, Inc. (SPPI) Will Announce Earnings of -$0.18 Per Share

Brokerages expect Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) to report earnings of ($0.18) per share for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Spectrum Pharmaceuticals’ earnings. The lowest EPS estimate is ($0.19) and the highest is ($0.17). Spectrum Pharmaceuticals posted earnings of ($0.26) per share in the same quarter last year, which would indicate a positive year over year growth rate of 30.8%. The firm is expected to issue its next quarterly earnings results on Thursday, August 2nd.

On average, analysts expect that Spectrum Pharmaceuticals will report full year earnings of ($0.71) per share for the current fiscal year, with EPS estimates ranging from ($0.75) to ($0.67). For the next year, analysts expect that the company will report earnings of ($0.54) per share, with EPS estimates ranging from ($0.70) to ($0.37). Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that cover Spectrum Pharmaceuticals.

Spectrum Pharmaceuticals (NASDAQ:SPPI) last posted its quarterly earnings data on Thursday, May 3rd. The biotechnology company reported ($0.16) earnings per share for the quarter, topping the consensus estimate of ($0.35) by $0.19. Spectrum Pharmaceuticals had a negative return on equity of 29.47% and a negative net margin of 64.39%. The business had revenue of $30.50 million during the quarter, compared to analysts’ expectations of $25.68 million. During the same quarter in the previous year, the firm earned ($0.14) EPS. The firm’s revenue was up 4.8% compared to the same quarter last year.



Several research firms recently weighed in on SPPI. BidaskClub cut Spectrum Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Wednesday, May 2nd. ValuEngine raised Spectrum Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Zacks Investment Research cut Spectrum Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Monday, May 7th. Finally, TheStreet cut Spectrum Pharmaceuticals from a “c-” rating to a “d+” rating in a research report on Friday, March 16th. One research analyst has rated the stock with a sell rating, five have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $27.20.

Shares of NASDAQ SPPI traded up $0.03 during trading hours on Friday, hitting $20.00. 95,009 shares of the company’s stock were exchanged, compared to its average volume of 1,438,083. Spectrum Pharmaceuticals has a 1-year low of $6.38 and a 1-year high of $23.50. The stock has a market capitalization of $2.07 billion, a PE ratio of -18.87 and a beta of 2.02.

In other Spectrum Pharmaceuticals news, Director Stuart Mitchell Krassner sold 21,113 shares of the company’s stock in a transaction that occurred on Thursday, May 17th. The stock was sold at an average price of $18.94, for a total value of $399,880.22. Following the completion of the transaction, the director now owns 57,944 shares of the company’s stock, valued at approximately $1,097,459.36. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Rajesh C. Md Shrotriya sold 3,686 shares of the company’s stock in a transaction that occurred on Friday, April 6th. The shares were sold at an average price of $15.00, for a total value of $55,290.00. Following the completion of the transaction, the director now directly owns 200,652 shares of the company’s stock, valued at approximately $3,009,780. The disclosure for this sale can be found here. In the last ninety days, insiders sold 882,436 shares of company stock valued at $15,324,653. Insiders own 9.35% of the company’s stock.

Institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC acquired a new position in Spectrum Pharmaceuticals in the 1st quarter valued at approximately $103,000. Flinton Capital Management LLC raised its holdings in Spectrum Pharmaceuticals by 111.0% in the 4th quarter. Flinton Capital Management LLC now owns 7,088 shares of the biotechnology company’s stock valued at $134,000 after acquiring an additional 3,728 shares in the last quarter. Meadow Creek Investment Management LLC raised its holdings in Spectrum Pharmaceuticals by 111.0% in the 4th quarter. Meadow Creek Investment Management LLC now owns 9,746 shares of the biotechnology company’s stock valued at $185,000 after acquiring an additional 5,126 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Spectrum Pharmaceuticals in the 1st quarter valued at approximately $184,000. Finally, Commonwealth Equity Services LLC acquired a new position in Spectrum Pharmaceuticals in the 1st quarter valued at approximately $184,000. 77.19% of the stock is owned by hedge funds and other institutional investors.

About Spectrum Pharmaceuticals

Spectrum Pharmaceuticals, Inc develops and commercializes oncology and hematology drug products. The company markets six drug products, including FUSILEV for patients with metastatic colorectal cancer and rescue after high-dose methotrexate therapy in osteosarcoma, and to diminish toxicity and counteract the effects of impaired methotrexate elimination and of inadvertent overdosage of folic acid antagonists; FOLOTYN, a folate analogue metabolic inhibitor for peripheral T-cell lymphoma (PTCL); ZEVALIN injection for patients with B-cell non-Hodgkin's lymphoma; MARQIBO, a sphingomyelin/cholesterol liposome-encapsulated formulation for adult patients with Philadelphia chromosome-negative acute lymphoblastic leukemia; BELEODAQ injection for PTCL; and EVOMELA for use as a conditioning treatment prior to autologous stem cell transplant in multiple myeloma patients.

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

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