Los Angeles Capital Management LLC Trims Holdings in Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI)

Los Angeles Capital Management LLC trimmed its position in Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) by 7.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 185,226 shares of the biotechnology company’s stock after selling 15,380 shares during the quarter. Los Angeles Capital Management LLC owned about 0.11% of Spectrum Pharmaceuticals worth $404,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in SPPI. Advisor Group Holdings Inc. raised its stake in shares of Spectrum Pharmaceuticals by 101.9% in the second quarter. Advisor Group Holdings Inc. now owns 42,559 shares of the biotechnology company’s stock worth $159,000 after purchasing an additional 21,482 shares during the last quarter. Swiss National Bank raised its position in Spectrum Pharmaceuticals by 2.9% during the second quarter. Swiss National Bank now owns 338,900 shares of the biotechnology company’s stock valued at $1,271,000 after acquiring an additional 9,400 shares in the last quarter. Principal Financial Group Inc. raised its position in Spectrum Pharmaceuticals by 11.9% during the second quarter. Principal Financial Group Inc. now owns 1,175,172 shares of the biotechnology company’s stock valued at $4,407,000 after acquiring an additional 125,094 shares in the last quarter. Panagora Asset Management Inc. raised its position in Spectrum Pharmaceuticals by 203.9% during the second quarter. Panagora Asset Management Inc. now owns 596,913 shares of the biotechnology company’s stock valued at $2,238,000 after acquiring an additional 400,475 shares in the last quarter. Finally, Deutsche Bank AG raised its position in Spectrum Pharmaceuticals by 7.0% during the second quarter. Deutsche Bank AG now owns 116,073 shares of the biotechnology company’s stock valued at $434,000 after acquiring an additional 7,618 shares in the last quarter. Hedge funds and other institutional investors own 64.11% of the company’s stock.

Shares of Spectrum Pharmaceuticals stock opened at $1.13 on Friday. Spectrum Pharmaceuticals, Inc. has a 52 week low of $1.05 and a 52 week high of $4.54. The business’s fifty day simple moving average is $1.56 and its 200-day simple moving average is $2.23. The firm has a market cap of $185.27 million, a PE ratio of -1.06 and a beta of 1.85.

Spectrum Pharmaceuticals (NASDAQ:SPPI) last announced its quarterly earnings results on Wednesday, November 10th. The biotechnology company reported ($0.21) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.28) by $0.07. During the same period last year, the business posted ($0.37) earnings per share. On average, research analysts expect that Spectrum Pharmaceuticals, Inc. will post -0.99 earnings per share for the current year.

SPPI has been the subject of a number of recent analyst reports. JMP Securities restated a “buy” rating and issued a $4.00 price objective on shares of Spectrum Pharmaceuticals in a research report on Monday, September 20th. Zacks Investment Research raised Spectrum Pharmaceuticals from a “hold” rating to a “buy” rating and set a $2.25 price objective on the stock in a research note on Wednesday, November 17th. Finally, B. Riley reissued a “buy” rating on shares of Spectrum Pharmaceuticals in a research note on Friday, November 12th.

About Spectrum Pharmaceuticals

Spectrum Pharmaceuticals, Inc is a biotechnology company, which engages in the acquisition, development and commercialization of pipeline of late-stage clinical and commercial products. It operates through the following brands: FOLOTYN, ZEVALIN, MARQIBO, BELEODAQ and EVOMELA. The company was founded in December 1987 and is headquartered in Henderson, NV.

Further Reading: Return On Assets

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Institutional Ownership by Quarter for Spectrum Pharmaceuticals (NASDAQ:SPPI)

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