Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) CEO Joseph W. Turgeon sold 162,473 shares of the company’s stock in a transaction that occurred on Wednesday, November 18th. The stock was sold at an average price of $4.13, for a total transaction of $671,013.49. Following the sale, the chief executive officer now owns 528,661 shares in the company, valued at $2,183,369.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
SPPI stock opened at $4.32 on Friday. The company has a market capitalization of $630.38 million, a P/E ratio of -3.54 and a beta of 2.22. Spectrum Pharmaceuticals, Inc. has a twelve month low of $1.74 and a twelve month high of $10.57. The business has a 50 day simple moving average of $3.87 and a 200-day simple moving average of $3.59.
Spectrum Pharmaceuticals (NASDAQ:SPPI) last posted its quarterly earnings data on Wednesday, November 4th. The biotechnology company reported ($0.37) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.35) by ($0.02). On average, equities research analysts expect that Spectrum Pharmaceuticals, Inc. will post -1.39 EPS for the current fiscal year.
SPPI has been the subject of a number of research analyst reports. BidaskClub downgraded Spectrum Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday, September 25th. Cantor Fitzgerald upped their price target on Spectrum Pharmaceuticals from $4.00 to $7.00 and gave the company a “neutral” rating in a report on Tuesday, July 28th. HC Wainwright lowered their price target on Spectrum Pharmaceuticals from $13.00 to $12.00 and set a “buy” rating for the company in a report on Monday, October 26th. Finally, JMP Securities initiated coverage on Spectrum Pharmaceuticals in a report on Thursday, September 17th. They issued an “outperform” rating and a $12.00 price target for the company. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Spectrum Pharmaceuticals currently has an average rating of “Buy” and a consensus target price of $8.15.
About Spectrum Pharmaceuticals
Spectrum Pharmaceuticals, Inc, a biopharma company, develops and commercializes oncology and hematology drug products. The company is developing ROLONTIS, a novel long-acting granulocyte colony-stimulating for chemotherapy-induced neutropenia; Poziotinib, a novel irreversible tyrosine kinase inhibitor for non-small cell lung cancer tumors with various mutations; and Anti-CD20-IFNÃ¡, an antibody-interferon fusion molecule directed against CD20 that is in Phase I development for the treatment of relapsed or refractory non-Hodgkin's lymphoma patients, including diffuse large B-cell lymphoma.
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