Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI – Get Rating) has received a consensus rating of “Hold” from the six brokerages that are covering the stock, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold rating. The average 12-month price target among brokers that have issued a report on the stock in the last year is $0.88.
Several brokerages recently issued reports on SPPI. Cantor Fitzgerald lowered their price target on Spectrum Pharmaceuticals from $3.00 to $0.75 and set a “neutral” rating on the stock in a research note on Friday, February 3rd. Jefferies Financial Group cut Spectrum Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Monday. HC Wainwright lowered Spectrum Pharmaceuticals from a “buy” rating to a “neutral” rating in a research note on Wednesday, April 26th. StockNews.com started coverage on shares of Spectrum Pharmaceuticals in a report on Saturday, May 13th. They issued a “hold” rating on the stock. Finally, JMP Securities cut shares of Spectrum Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research note on Wednesday, April 26th.
Spectrum Pharmaceuticals Trading Up 3.4 %
Shares of SPPI stock opened at $1.22 on Monday. The firm has a market capitalization of $250.42 million, a P/E ratio of -3.39 and a beta of 2.22. Spectrum Pharmaceuticals has a 1 year low of $0.32 and a 1 year high of $1.57. The firm’s fifty day simple moving average is $0.86 and its 200 day simple moving average is $0.67.
Insider Transactions at Spectrum Pharmaceuticals
In other news, CEO Thomas J. Riga sold 37,009 shares of Spectrum Pharmaceuticals stock in a transaction that occurred on Wednesday, February 22nd. The shares were sold at an average price of $0.77, for a total value of $28,496.93. Following the completion of the transaction, the chief executive officer now owns 1,839,639 shares in the company, valued at $1,416,522.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last quarter, insiders have sold 82,885 shares of company stock valued at $65,396. 2.70% of the stock is owned by insiders.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. WINTON GROUP Ltd boosted its stake in Spectrum Pharmaceuticals by 14.4% during the 1st quarter. WINTON GROUP Ltd now owns 109,140 shares of the biotechnology company’s stock worth $82,000 after acquiring an additional 13,746 shares during the last quarter. BNP Paribas Arbitrage SA boosted its position in shares of Spectrum Pharmaceuticals by 108.3% during the second quarter. BNP Paribas Arbitrage SA now owns 31,652 shares of the biotechnology company’s stock worth $25,000 after purchasing an additional 16,460 shares in the last quarter. Mirabella Financial Services LLP bought a new position in shares of Spectrum Pharmaceuticals during the first quarter worth $27,000. Charles Schwab Investment Management Inc. grew its holdings 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 buying an additional 22,726 shares during the period. Finally, Goldman Sachs Group Inc. increased its position in shares of Spectrum Pharmaceuticals by 11.3% in the 2nd quarter. Goldman Sachs Group Inc. now owns 276,163 shares of the biotechnology company’s stock valued at $215,000 after buying an additional 28,092 shares in the last quarter. Institutional investors and hedge funds own 27.95% of the company’s stock.
Spectrum Pharmaceuticals Company Profile
Spectrum Pharmaceuticals, Inc is a biotechnology company, which engages in the acquisition, development and commercialization of a pipeline of novel and targeted oncology therapies. Its product pipeline includes: Eflapegrastim, Poziotinib, and IGN002. The company was founded in December 1987 and is headquartered in Boston, MA.
- Get a free copy of the StockNews.com research report on Spectrum Pharmaceuticals (SPPI)
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