Spectrum Pharmaceuticals (NASDAQ:SPPI) Upgraded by StockNews.com to Hold

Posted by on Jun 24th, 2022

StockNews.com upgraded shares of Spectrum Pharmaceuticals (NASDAQ:SPPI – Get Rating) from a sell rating to a hold rating in a research report released on Thursday morning.

A number of other analysts have also recently issued reports on SPPI. B. Riley reduced their price objective on Spectrum Pharmaceuticals from $6.00 to $4.00 and set a buy rating for the company in a research report on Monday, March 21st. JMP Securities reissued a buy rating and set a $4.00 price objective on shares of Spectrum Pharmaceuticals in a research report on Tuesday, June 7th. HC Wainwright reaffirmed a buy rating and issued a $10.00 price target on shares of Spectrum Pharmaceuticals in a research report on Friday, May 27th. Finally, Cantor Fitzgerald reaffirmed a neutral rating on shares of Spectrum Pharmaceuticals in a research report on Wednesday, June 8th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Spectrum Pharmaceuticals has an average rating of Moderate Buy and an average price target of $6.00.

SPPI opened at $0.89 on Thursday. The stock has a market cap of $160.46 million, a price-to-earnings ratio of -1.01 and a beta of 2.24. Spectrum Pharmaceuticals has a 1 year low of $0.60 and a 1 year high of $4.08. The company has a current ratio of 2.38, a quick ratio of 2.38 and a debt-to-equity ratio of 0.10. The stock has a fifty day moving average price of $0.82 and a 200 day moving average price of $0.98.

Several large investors have recently made changes to their positions in the business. Moors & Cabot Inc. acquired a new position in shares of Spectrum Pharmaceuticals during the 3rd quarter worth about $26,000. Mirabella Financial Services LLP acquired a new position in shares of Spectrum Pharmaceuticals during the 1st quarter worth about $27,000. WINTON GROUP Ltd acquired a new position in shares of Spectrum Pharmaceuticals during the 1st quarter worth about $35,000. Acadian Asset Management LLC acquired a new position in shares of Spectrum Pharmaceuticals during the 4th quarter worth about $36,000. Finally, Two Sigma Securities LLC acquired a new position in shares of Spectrum Pharmaceuticals during the 3rd quarter worth about $45,000. 58.51% of the stock is owned by institutional investors.

About Spectrum Pharmaceuticals (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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