Spectrum Pharmaceuticals (NASDAQ:SPPI) Given New $9.00 Price Target at HC Wainwright

Spectrum Pharmaceuticals (NASDAQ:SPPIGet Rating) had its price objective lowered by HC Wainwright from $12.00 to $9.00 in a report published on Tuesday, The Fly reports. HC Wainwright currently has a buy rating on the biotechnology company’s stock.

Several other equities analysts have also recently weighed in on SPPI. Cantor Fitzgerald reissued a neutral rating on shares of Spectrum Pharmaceuticals in a research note on Wednesday, June 8th. StockNews.com cut shares of Spectrum Pharmaceuticals from a hold rating to a sell rating in a research report on Sunday. Finally, JMP Securities reissued a buy rating and issued a $4.00 target price on shares of Spectrum Pharmaceuticals in a research report on Tuesday, June 7th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of Hold and an average price target of $5.67.

Spectrum Pharmaceuticals Stock Performance

Shares of NASDAQ:SPPI opened at $0.66 on Tuesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.79 and a quick ratio of 1.79. The company has a market capitalization of $124.73 million, a price-to-earnings ratio of -0.91 and a beta of 1.86. The firm’s 50 day simple moving average is $1.08 and its 200 day simple moving average is $0.97. Spectrum Pharmaceuticals has a fifty-two week low of $0.60 and a fifty-two week high of $2.47.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SPPI. BNP Paribas Arbitrage SA raised its stake in 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 purchasing an additional 16,460 shares in the last quarter. Mirabella Financial Services LLP acquired a new position in Spectrum Pharmaceuticals in the first quarter valued at about $27,000. WINTON GROUP Ltd acquired a new position in Spectrum Pharmaceuticals in the first quarter valued at about $35,000. Acadian Asset Management LLC acquired a new position in Spectrum Pharmaceuticals in the fourth quarter valued at about $36,000. Finally, Laurion Capital Management LP acquired a new position in Spectrum Pharmaceuticals in the second quarter valued at about $47,000. Institutional investors and hedge funds own 31.10% of the company’s stock.

Spectrum Pharmaceuticals Company Profile

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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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