Spectrum Pharmaceuticals, Inc. (SPPI) Given Average Rating of “Buy” by Analysts

Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) has been assigned an average recommendation of “Buy” from the eight research firms that are presently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $29.00.

A number of brokerages have weighed in on SPPI. BidaskClub downgraded shares of Spectrum Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 3rd. HC Wainwright raised their target price on shares of Spectrum Pharmaceuticals to $33.00 and gave the company a “buy” rating in a research note on Monday, February 5th. B. Riley began coverage on shares of Spectrum Pharmaceuticals in a research note on Monday, December 18th. They set a “buy” rating and a $26.00 target price for the company. Zacks Investment Research raised shares of Spectrum Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Friday, January 12th. Finally, Jefferies Group raised their target price on shares of Spectrum Pharmaceuticals to $25.00 and gave the company a “buy” rating in a research note on Friday, October 20th.

Shares of Spectrum Pharmaceuticals (NASDAQ:SPPI) traded up $0.92 during midday trading on Friday, hitting $21.28. 975,100 shares of the company’s stock were exchanged, compared to its average volume of 977,129. Spectrum Pharmaceuticals has a fifty-two week low of $5.47 and a fifty-two week high of $23.50. The company has a market capitalization of $2,049.48, a P/E ratio of -21.49 and a beta of 1.64. The company has a quick ratio of 4.89, a current ratio of 5.04 and a debt-to-equity ratio of 0.33.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Flinton Capital Management LLC increased its position in shares of Spectrum Pharmaceuticals by 111.0% during the fourth 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 increased its position in shares of Spectrum Pharmaceuticals by 111.0% during the fourth 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. Jane Street Group LLC bought a new stake in shares of Spectrum Pharmaceuticals during the third quarter valued at approximately $152,000. Los Angeles Capital Management & Equity Research Inc. bought a new stake in shares of Spectrum Pharmaceuticals during the third quarter valued at approximately $177,000. Finally, Campbell & CO Investment Adviser LLC bought a new stake in shares of Spectrum Pharmaceuticals during the third quarter valued at approximately $192,000. 71.65% of the stock is owned by institutional investors.

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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).

Analyst Recommendations for Spectrum Pharmaceuticals (NASDAQ:SPPI)

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