Spectrum Pharmaceuticals, Inc. (SPPI) Expected to Announce Earnings of -$0.25 Per Share

Equities analysts predict that Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) will announce earnings of ($0.25) per share for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Spectrum Pharmaceuticals’ earnings. The lowest EPS estimate is ($0.26) and the highest is ($0.24). Spectrum Pharmaceuticals reported earnings per share of ($0.22) in the same quarter last year, which suggests a negative year-over-year growth rate of 13.6%. The company is expected to report its next quarterly earnings report on Wednesday, March 14th.

On average, analysts expect that Spectrum Pharmaceuticals will report full-year earnings of ($1.03) per share for the current fiscal year, with EPS estimates ranging from ($1.04) to ($1.02). For the next year, analysts expect that the company will report earnings of ($0.94) per share, with EPS estimates ranging from ($0.95) to ($0.92). Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that cover Spectrum Pharmaceuticals.

Spectrum Pharmaceuticals (NASDAQ:SPPI) last posted its earnings results on Thursday, November 2nd. The biotechnology company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.06). Spectrum Pharmaceuticals had a negative net margin of 58.94% and a negative return on equity of 29.73%. The firm had revenue of $36.40 million during the quarter, compared to the consensus estimate of $33.27 million. During the same quarter in the prior year, the business posted ($0.07) earnings per share. Spectrum Pharmaceuticals’s revenue for the quarter was up 9.0% compared to the same quarter last year.

A number of brokerages have recently issued reports on SPPI. Zacks Investment Research downgraded Spectrum Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Friday, August 18th. Jefferies Group LLC set a $9.00 price objective on Spectrum Pharmaceuticals and gave the stock a “buy” rating in a research report on Friday, August 25th. HC Wainwright reiterated a “buy” rating and issued a $14.00 target price on shares of Spectrum Pharmaceuticals in a report on Wednesday, August 16th. BidaskClub downgraded Spectrum Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Finally, ValuEngine upgraded Spectrum Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday, August 17th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $21.40.

A number of institutional investors have recently made changes to their positions in the business. State of Alaska Department of Revenue boosted its position in shares of Spectrum Pharmaceuticals by 77.1% during the second quarter. State of Alaska Department of Revenue now owns 13,918 shares of the biotechnology company’s stock valued at $103,000 after buying an additional 6,058 shares during the last quarter. Piedmont Investment Advisors LLC purchased a new position in Spectrum Pharmaceuticals in the second quarter worth $114,000. Municipal Employees Retirement System of Michigan boosted its position in Spectrum Pharmaceuticals by 5.6% in the second quarter. Municipal Employees Retirement System of Michigan now owns 16,720 shares of the biotechnology company’s stock worth $125,000 after purchasing an additional 880 shares during the last quarter. Pillar Pacific Capital Management LLC purchased a new position in Spectrum Pharmaceuticals in the second quarter worth $138,000. Finally, Jane Street Group LLC purchased a new position in Spectrum Pharmaceuticals in the third quarter worth $152,000. 56.04% of the stock is owned by hedge funds and other institutional investors.

Shares of Spectrum Pharmaceuticals (NASDAQ SPPI) traded up $0.16 on Wednesday, hitting $18.80. The stock had a trading volume of 985,000 shares, compared to its average volume of 1,079,469. Spectrum Pharmaceuticals has a 52 week low of $3.85 and a 52 week high of $21.95. The company has a quick ratio of 4.89, a current ratio of 5.04 and a debt-to-equity ratio of 0.33.

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Spectrum Pharmaceuticals Company Profile

Spectrum Pharmaceuticals, Inc is a biotechnology company. The Company operates through developing and commercializing oncology and hematology drug products segment. It has a product portfolio consisting of both commercial stage and development stage products that address various cancer types. The Company has six approved oncology/hematology products that target different types of cancer, including non-Hodgkin’s lymphoma (NHL), advanced metastatic colorectal cancer (mCRC), acute lymphoblastic leukemia (ALL) and multiple myeloma (MM).

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

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