Spectrum Pharmaceuticals (NASDAQ:SPPI) Earns Sell Rating from Analysts at StockNews.com

Stock analysts at StockNews.com started coverage on shares of Spectrum Pharmaceuticals (NASDAQ:SPPIGet Rating) in a research note issued to investors on Monday. The brokerage set a “sell” rating on the biotechnology company’s stock.

Other equities analysts have also issued reports about the stock. JMP Securities restated a “buy” rating and set a $4.00 price target on shares of Spectrum Pharmaceuticals in a research report on Friday, September 23rd. HC Wainwright decreased their target price on shares of Spectrum Pharmaceuticals from $12.00 to $9.00 and set a “buy” rating on the stock in a report on Tuesday, September 20th. Finally, B. Riley lowered shares of Spectrum Pharmaceuticals from a “buy” rating to a “neutral” rating and decreased their target price for the company from $1.50 to $1.00 in a report on Wednesday, November 16th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $4.67.

Spectrum Pharmaceuticals Trading Down 2.8 %

SPPI opened at $0.44 on Monday. The firm has a market capitalization of $82.30 million, a PE ratio of -0.68 and a beta of 2.04. Spectrum Pharmaceuticals has a twelve month low of $0.36 and a twelve month high of $1.81. The firm’s 50-day moving average price is $0.53 and its 200 day moving average price is $0.79.

Hedge Funds Weigh In On Spectrum Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the company. BNP Paribas Arbitrage SA raised its stake in shares of Spectrum Pharmaceuticals by 108.3% in the 2nd 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 during the period. Mirabella Financial Services LLP purchased a new stake in shares of Spectrum Pharmaceuticals in the 1st quarter valued at approximately $27,000. Charles Schwab Investment Management Inc. raised its stake in shares of Spectrum Pharmaceuticals by 5.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 432,628 shares of the biotechnology company’s stock valued at $559,000 after acquiring an additional 22,726 shares during the period. WINTON GROUP Ltd purchased a new stake in shares of Spectrum Pharmaceuticals in the 1st quarter valued at approximately $35,000. Finally, Goldman Sachs Group Inc. increased its stake in Spectrum Pharmaceuticals by 11.3% during the 2nd quarter. Goldman Sachs Group Inc. now owns 276,163 shares of the biotechnology company’s stock worth $215,000 after buying an additional 28,092 shares during the period. 31.10% of the stock is currently owned by institutional investors and hedge funds.

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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