Keith M. Mcgahan Sells 3,735 Shares of Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) Stock

Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) insider Keith M. Mcgahan sold 3,735 shares of the business’s stock in a transaction dated Monday, June 21st. The stock was sold at an average price of $4.27, for a total value of $15,948.45. Following the completion of the sale, the insider now directly owns 308,199 shares of the company’s stock, valued at approximately $1,316,009.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

NASDAQ SPPI opened at $3.93 on Thursday. Spectrum Pharmaceuticals, Inc. has a twelve month low of $2.82 and a twelve month high of $5.24. The firm has a market cap of $634.78 million, a PE ratio of -3.30 and a beta of 2.23. The business’s 50-day simple moving average is $3.50.

Spectrum Pharmaceuticals (NASDAQ:SPPI) last issued its quarterly earnings results on Thursday, May 13th. The biotechnology company reported ($0.25) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.33) by $0.08. As a group, equities analysts anticipate that Spectrum Pharmaceuticals, Inc. will post -1.01 EPS for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of SPPI. LPL Financial LLC bought a new stake in shares of Spectrum Pharmaceuticals in the 4th quarter valued at approximately $37,000. HighTower Advisors LLC bought a new stake in shares of Spectrum Pharmaceuticals in the 1st quarter valued at approximately $38,000. Vantage Consulting Group Inc grew its stake in shares of Spectrum Pharmaceuticals by 150.5% in the 1st quarter. Vantage Consulting Group Inc now owns 11,686 shares of the biotechnology company’s stock valued at $38,000 after purchasing an additional 7,020 shares during the period. Meeder Asset Management Inc. grew its stake in shares of Spectrum Pharmaceuticals by 2,662.6% in the 1st quarter. Meeder Asset Management Inc. now owns 11,686 shares of the biotechnology company’s stock valued at $39,000 after purchasing an additional 11,263 shares during the period. Finally, Teacher Retirement System of Texas bought a new stake in shares of Spectrum Pharmaceuticals in the 4th quarter valued at approximately $40,000. Hedge funds and other institutional investors own 62.66% of the company’s stock.

Separately, B. Riley reissued a “buy” rating and set a $8.00 price objective on shares of Spectrum Pharmaceuticals in a research report on Monday, April 12th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $9.75.

Spectrum Pharmaceuticals Company Profile

Spectrum Pharmaceuticals, Inc, a biopharmaceutical company, develops and commercializes oncology and hematology drug products. The company's products under development include ROLONTIS, a novel long-acting granulocyte colony-stimulating factor for chemotherapy-induced neutropenia; Poziotinib, a novel irreversible tyrosine kinase inhibitor for non-small cell lung cancer tumors with various mutations; and Anti-CD20-IFNa, an antibody-interferon fusion molecule directed against CD20 that is in Phase I development for the treatment of patients with relapsed or refractory non-Hodgkin's lymphoma, including diffuse large B-cell lymphoma.

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