Analysts at StockNews.com began coverage on shares of Spectrum Pharmaceuticals (NASDAQ:SPPI – Get Rating) in a report issued on Sunday. The firm set a “hold” rating on the biotechnology company’s stock.
A number of other equities research analysts have also weighed in on the company. Cantor Fitzgerald lowered their price objective on Spectrum Pharmaceuticals from $3.00 to $0.75 and set a “neutral” rating on the stock in a report on Friday, February 3rd. HC Wainwright downgraded shares of Spectrum Pharmaceuticals from a “buy” rating to a “neutral” rating in a research report on Wednesday, April 26th. JMP Securities downgraded shares of Spectrum Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research report on Wednesday, April 26th. Finally, Jefferies Financial Group downgraded shares of Spectrum Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Monday, May 15th. Six equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $2.44.
Spectrum Pharmaceuticals Trading Up 2.1 %
Shares of SPPI opened at $1.24 on Friday. Spectrum Pharmaceuticals has a twelve month low of $0.32 and a twelve month high of $1.57. The stock’s 50 day moving average is $0.87 and its two-hundred day moving average is $0.68. The firm has a market capitalization of $253.50 million, a PE ratio of -3.43 and a beta of 2.23.
Insider Buying and Selling
In related news, CEO Thomas J. Riga sold 37,009 shares of Spectrum Pharmaceuticals stock in a transaction that occurred on Wednesday, February 22nd. The stock was sold at an average price of $0.77, for a total transaction of $28,496.93. Following the completion of the transaction, the chief executive officer now directly owns 1,839,639 shares in the company, valued at approximately $1,416,522.03. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 82,885 shares of company stock worth $65,396 in the last ninety days. Insiders own 2.70% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the stock. CM Management LLC raised its holdings in Spectrum Pharmaceuticals by 33.3% in the 3rd quarter. CM Management LLC now owns 800,000 shares of the biotechnology company’s stock valued at $344,000 after acquiring an additional 200,000 shares during the last quarter. Caas Capital Management LP acquired a new position in Spectrum Pharmaceuticals in the 3rd quarter valued at $123,000. AQR Capital Management LLC raised its holdings in Spectrum Pharmaceuticals by 368.0% in the 2nd quarter. AQR Capital Management LLC now owns 161,832 shares of the biotechnology company’s stock valued at $126,000 after acquiring an additional 127,252 shares during the last quarter. Jane Street Group LLC raised its holdings in Spectrum Pharmaceuticals by 5,314.3% in the 4th quarter. Jane Street Group LLC now owns 249,141 shares of the biotechnology company’s stock valued at $92,000 after acquiring an additional 253,919 shares during the last quarter. Finally, WINTON GROUP Ltd raised its holdings in Spectrum Pharmaceuticals by 14.4% in the 1st quarter. WINTON GROUP Ltd now owns 109,140 shares of the biotechnology company’s stock valued at $82,000 after acquiring an additional 13,746 shares during the last quarter. 27.95% of the stock is currently owned by institutional investors and hedge funds.
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)
- MarketBeat Week in Review – 5/15 – 5/19
- Applied Materials: Cracks In The Chip Recovery Or Time To Buy?
- Deere & Company Rallies On Farm Equipment Boom, Bullish Outlook
- How Many Roth IRAs Can You Have?
- Why You Should Consider Buying Nvidia Ahead Of Earnings
Receive News & Ratings for Spectrum Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spectrum Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.