Cantor Fitzgerald Comments on Spectrum Pharmaceuticals, Inc.’s FY2023 Earnings (NASDAQ:SPPI)

Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI – Get Rating) – Stock analysts at Cantor Fitzgerald issued their FY2023 earnings estimates for Spectrum Pharmaceuticals in a research report issued on Monday, June 6th. Cantor Fitzgerald analyst forecasts that the biotechnology company will post earnings per share of ($0.18) for the year. Cantor Fitzgerald has a “Neutral” rating on the stock.

Spectrum Pharmaceuticals (NASDAQ:SPPI – Get Rating) last released its quarterly earnings results on Thursday, March 17th. The biotechnology company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.05). During the same quarter in the previous year, the firm posted ($0.36) EPS.

SPPI has been the subject of a number of other reports. HC Wainwright restated a “buy” rating and set a $10.00 price target on shares of Spectrum Pharmaceuticals in a research report on Friday, May 27th. JMP Securities reiterated a “buy” rating and issued a $4.00 target price on shares of Spectrum Pharmaceuticals in a research report on Tuesday. StockNews.com upgraded shares of Spectrum Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Tuesday, May 24th. B. Riley cut their target price on shares of Spectrum Pharmaceuticals from $6.00 to $4.00 and set a “buy” rating for the company in a research report on Monday, March 21st. Finally, Zacks Investment Research upgraded shares of Spectrum Pharmaceuticals from a “hold” rating to a “buy” rating and set a $0.75 target price for the company in a research report on Tuesday, May 24th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $4.69.

SPPI opened at $0.89 on Wednesday. The company has a fifty day moving average price of $0.91 and a 200-day moving average price of $1.04. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.38 and a current ratio of 2.38. Spectrum Pharmaceuticals has a one year low of $0.60 and a one year high of $4.54.

A number of institutional investors have recently bought and sold shares of SPPI. Moors & Cabot Inc. bought a new position in shares of Spectrum Pharmaceuticals during the third quarter valued at about $26,000. Mirabella Financial Services LLP bought a new position in Spectrum Pharmaceuticals in the first quarter worth about $27,000. Janus Henderson Group PLC bought a new position in Spectrum Pharmaceuticals in the third quarter worth about $34,000. WINTON GROUP Ltd bought a new position in Spectrum Pharmaceuticals in the first quarter worth about $35,000. Finally, Acadian Asset Management LLC bought a new position in Spectrum Pharmaceuticals in the fourth quarter worth about $36,000. 58.51% of the stock is owned by institutional investors and hedge funds.

Spectrum Pharmaceuticals Company Profile (Get Rating)

Spectrum Pharmaceuticals, Inc, a biopharmaceutical company, develops and commercializes oncology and hematology drug products. The company's products under development include Eflapegrastim, a novel long-acting granulocyte colony-stimulating factor for chemotherapy-induced neutropenia; Poziotinib, a novel irreversible tyrosine kinase inhibitor for non-small cell lung cancer tumors with various mutations; and Anti-CD20-IFNa, an antibody-interferon fusion molecule directed against CD20 that is in Phase I development for the treatment of patients with relapsed or refractory non-Hodgkin's lymphoma, including diffuse large B-cell lymphoma.

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