Spectrum Pharmaceuticals (NASDAQ:SPPI – Get Rating)‘s stock had its “buy” rating reaffirmed by equities research analysts at JMP Securities in a report released on Friday. They presently have a $4.00 price objective on the biotechnology company’s stock.
A number of other research firms also recently weighed in on SPPI. HC Wainwright reduced their price target on shares of Spectrum Pharmaceuticals from $12.00 to $9.00 and set a “buy” rating on the stock in a research note on Tuesday. StockNews.com downgraded shares of Spectrum Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Sunday, September 18th. B. Riley reduced their price target on shares of Spectrum Pharmaceuticals from $4.00 to $1.50 in a research note on Friday. Finally, Cantor Fitzgerald restated a “neutral” rating on shares of Spectrum Pharmaceuticals in a research note on Wednesday, June 8th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Spectrum Pharmaceuticals has a consensus rating of “Hold” and a consensus price target of $4.83.
Spectrum Pharmaceuticals Price Performance
SPPI stock traded down $0.20 during mid-day trading on Friday, hitting $0.43. The stock had a trading volume of 154,308 shares, compared to its average volume of 8,236,496. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.15. Spectrum Pharmaceuticals has a 52 week low of $0.60 and a 52 week high of $2.47. The firm has a market capitalization of $81.42 million, a P/E ratio of -0.59 and a beta of 1.86. The firm has a fifty day simple moving average of $1.07 and a 200 day simple moving average of $0.96.
Institutional Investors Weigh In On Spectrum Pharmaceuticals
Several hedge funds have recently added to or reduced their stakes in SPPI. Acadian Asset Management LLC bought a new position in Spectrum Pharmaceuticals during the 4th quarter worth approximately $36,000. Qube Research & Technologies Ltd bought a new position in Spectrum Pharmaceuticals during the 4th quarter worth approximately $56,000. Journey Strategic Wealth LLC bought a new position in Spectrum Pharmaceuticals during the 4th quarter worth approximately $54,000. McDonald Partners LLC bought a new position in Spectrum Pharmaceuticals during the 1st quarter worth approximately $55,000. Finally, KBC Group NV bought a new position in Spectrum Pharmaceuticals during the 1st quarter worth approximately $319,000. 31.10% of the stock is currently owned by institutional investors and hedge funds.
About Spectrum Pharmaceuticals
Spectrum Pharmaceuticals, Inc, a biopharmaceutical company, develops and commercializes oncology and hematology drug products. The company's products under development include Eflapegrastim, 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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