Spectrum Pharmaceuticals (NASDAQ:SPPI) – Analysts at B. Riley issued their Q1 2018 earnings estimates for Spectrum Pharmaceuticals in a report released on Wednesday, Zacks Investment Research reports. B. Riley analyst D. Buck anticipates that the biotechnology company will post earnings of ($0.31) per share for the quarter. B. Riley currently has a “Buy” rating and a $26.00 price target on the stock. B. Riley also issued estimates for Spectrum Pharmaceuticals’ FY2018 earnings at ($1.24) EPS, FY2019 earnings at ($1.07) EPS, FY2020 earnings at ($0.17) EPS, FY2021 earnings at $0.26 EPS and FY2022 earnings at $1.43 EPS.
Spectrum Pharmaceuticals (NASDAQ:SPPI) last posted its quarterly earnings results on Tuesday, March 6th. The biotechnology company reported ($0.29) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.25) by ($0.04). The firm had revenue of $28.57 million for the quarter, compared to analyst estimates of $33.18 million. Spectrum Pharmaceuticals had a negative net margin of 70.66% and a negative return on equity of 30.68%. The business’s revenue was down 18.9% on a year-over-year basis. During the same period in the prior year, the company posted ($0.10) earnings per share.
Other research analysts also recently issued reports about the company. Zacks Investment Research upgraded Spectrum Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Friday, January 12th. HC Wainwright restated a “buy” rating and set a $29.00 price objective on shares of Spectrum Pharmaceuticals in a research note on Monday, December 18th. BidaskClub downgraded Spectrum Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 3rd. Finally, TheStreet downgraded Spectrum Pharmaceuticals from a “c-” rating to a “d+” rating in a research note on Friday, March 16th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Spectrum Pharmaceuticals currently has a consensus rating of “Buy” and a consensus price target of $25.20.
SPPI traded down $0.95 during trading on Friday, reaching $15.14. 1,426,353 shares of the company were exchanged, compared to its average volume of 1,175,481. The company has a market cap of $1,652.68, a P/E ratio of -14.15 and a beta of 1.98. Spectrum Pharmaceuticals has a 52 week low of $5.47 and a 52 week high of $23.50.
In other news, CFO Kurt A. Gustafson sold 4,350 shares of the stock in a transaction on Wednesday, March 28th. The stock was sold at an average price of $16.35, for a total value of $71,122.50. Following the completion of the transaction, the chief financial officer now owns 187,193 shares of the company’s stock, valued at $3,060,605.55. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Joseph W. Turgeon sold 3,100 shares of the stock in a transaction on Thursday, March 22nd. The stock was sold at an average price of $18.17, for a total value of $56,327.00. Following the completion of the transaction, the chief executive officer now directly owns 332,884 shares of the company’s stock, valued at approximately $6,048,502.28. The disclosure for this sale can be found here. In the last three months, insiders sold 140,620 shares of company stock valued at $2,398,309. Company insiders own 13.33% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its stake in shares of Spectrum Pharmaceuticals by 2,435.6% in the third quarter. JPMorgan Chase & Co. now owns 52,741 shares of the biotechnology company’s stock worth $712,000 after purchasing an additional 50,661 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Spectrum Pharmaceuticals by 11.7% in the fourth quarter. Fisher Asset Management LLC now owns 200,252 shares of the biotechnology company’s stock valued at $3,795,000 after buying an additional 21,043 shares during the period. Schwab Charles Investment Management Inc. lifted its holdings in shares of Spectrum Pharmaceuticals by 16.2% in the third quarter. Schwab Charles Investment Management Inc. now owns 505,909 shares of the biotechnology company’s stock valued at $7,119,000 after buying an additional 70,487 shares during the period. SG Americas Securities LLC lifted its holdings in shares of Spectrum Pharmaceuticals by 153.3% in the third quarter. SG Americas Securities LLC now owns 45,871 shares of the biotechnology company’s stock valued at $645,000 after buying an additional 27,763 shares during the period. Finally, Prudential Financial Inc. lifted its holdings in shares of Spectrum Pharmaceuticals by 7.5% in the third quarter. Prudential Financial Inc. now owns 125,141 shares of the biotechnology company’s stock valued at $1,761,000 after buying an additional 8,745 shares during the period. 77.32% of the stock is owned by institutional investors.
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About Spectrum Pharmaceuticals
Spectrum Pharmaceuticals, Inc develops and commercializes oncology and hematology drug products. The company markets six drug products, including FUSILEV for patients with metastatic colorectal cancer and rescue after high-dose methotrexate therapy in osteosarcoma, and to diminish toxicity and counteract the effects of impaired methotrexate elimination and of inadvertent overdosage of folic acid antagonists; FOLOTYN, a folate analogue metabolic inhibitor for peripheral T-cell lymphoma (PTCL); ZEVALIN injection for patients with B-cell non-Hodgkin's lymphoma; MARQIBO, a sphingomyelin/cholesterol liposome-encapsulated formulation for adult patients with Philadelphia chromosome-negative acute lymphoblastic leukemia; BELEODAQ injection for PTCL; and EVOMELA for use as a conditioning treatment prior to autologous stem cell transplant in multiple myeloma patients.
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