Stock analysts at StockNews.com started coverage on shares of Spectrum Pharmaceuticals (NASDAQ:SPPI – Get Free Report) in a research report issued to clients and investors on Sunday. The brokerage set a “hold” rating on the biotechnology company’s stock.
Other analysts also recently issued reports about the stock. JMP Securities downgraded shares of Spectrum Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research report on Wednesday, April 26th. HC Wainwright lowered shares of Spectrum Pharmaceuticals from a “buy” rating to a “neutral” rating in a report on Wednesday, April 26th. Finally, Jefferies Financial Group downgraded shares of Spectrum Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Monday, May 15th. Six research analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $2.44.
Spectrum Pharmaceuticals Price Performance
NASDAQ SPPI opened at $0.94 on Friday. The company has a market cap of $192.32 million, a P/E ratio of -2.60 and a beta of 2.14. The company has a 50-day moving average of $1.07 and a 200-day moving average of $0.85. Spectrum Pharmaceuticals has a 12 month low of $0.32 and a 12 month high of $1.57.
Insiders Place Their Bets
In related news, CFO Nora Brennan sold 32,387 shares of the stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $1.10, for a total value of $35,625.70. Following the sale, the chief financial officer now directly owns 567,828 shares in the company, valued at approximately $624,610.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.70% of the company’s stock.
Hedge Funds Weigh In On Spectrum Pharmaceuticals
Hedge funds and other institutional investors have recently made changes to their positions in the company. WINTON GROUP Ltd increased its holdings in shares of Spectrum Pharmaceuticals by 14.4% in the first quarter. WINTON GROUP Ltd now owns 109,140 shares of the biotechnology company’s stock valued at $82,000 after purchasing an additional 13,746 shares during the last quarter. BNP Paribas Arbitrage SA grew its stake in shares of Spectrum Pharmaceuticals by 108.3% in the second quarter. BNP Paribas Arbitrage SA now owns 31,652 shares of the biotechnology company’s stock valued at $25,000 after acquiring an additional 16,460 shares in the last quarter. Mirabella Financial Services LLP bought a new stake in Spectrum Pharmaceuticals during the first quarter worth about $27,000. Charles Schwab Investment Management Inc. lifted its position in Spectrum Pharmaceuticals by 5.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 432,628 shares of the biotechnology company’s stock worth $559,000 after purchasing an additional 22,726 shares during the period. Finally, Goldman Sachs Group Inc. lifted its position in Spectrum Pharmaceuticals by 11.3% during the second quarter. Goldman Sachs Group Inc. now owns 276,163 shares of the biotechnology company’s stock worth $215,000 after purchasing an additional 28,092 shares during the period. 21.67% of the stock is owned by institutional investors.
Spectrum Pharmaceuticals Company Profile
Spectrum Pharmaceuticals, Inc, a biopharmaceutical company, develops and commercializes oncology drug products. It offers ROLVEDON(Eflapegrastim), a novel long-acting granulocyte colony-stimulating factor for chemotherapy-induced neutropenia. The company develops Poziotinib, a novel irreversible tyrosine kinase inhibitor for non-small cell lung cancer tumors with various mutations.
Featured Articles
- Five stocks we like better than Spectrum Pharmaceuticals
- MarketBeat Week in Review – 7/10 – 7/14
- Wells Fargo’s Earnings, Why Markets Are Loving The Stock
- Citigroup Leads Banking Earnings, What’s Next?
- BlackRock Kicks Off Financials Earnings Season, Gauge To Markets
- JPMorgan Chase Is In Reversal But Don’t Chase It Higher
Receive News & Ratings for Spectrum Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spectrum Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.
