Iat Reinsurance Co. LTD. maintained its stake in Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) during the fourth quarter, Holdings Channel reports. The fund owned 75,796 shares of the biotechnology company’s stock at the end of the fourth quarter. Iat Reinsurance Co. LTD. owned about 0.10% of Spectrum Pharmaceuticals worth $336,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in SPPI. Quantitative Systematic Strategies LLC boosted its stake in Spectrum Pharmaceuticals by 4.3% in the second quarter. Quantitative Systematic Strategies LLC now owns 24,942 shares of the biotechnology company’s stock valued at $164,000 after buying an additional 1,039 shares during the last quarter. Ameriprise Financial Inc. raised its position in shares of Spectrum Pharmaceuticals by 6.1% in the second quarter. Ameriprise Financial Inc. now owns 295,069 shares of the biotechnology company’s stock worth $1,939,000 after buying an additional 16,855 shares during the period. Nationwide Fund Advisors raised its position in shares of Spectrum Pharmaceuticals by 120.0% in the second quarter. Nationwide Fund Advisors now owns 104,516 shares of the biotechnology company’s stock worth $687,000 after buying an additional 57,017 shares during the period. Prudential Financial Inc. raised its position in shares of Spectrum Pharmaceuticals by 215.4% in the second quarter. Prudential Financial Inc. now owns 440,866 shares of the biotechnology company’s stock worth $2,896,000 after buying an additional 301,100 shares during the period. Finally, Principal Financial Group Inc. raised its position in shares of Spectrum Pharmaceuticals by 5.3% in the second quarter. Principal Financial Group Inc. now owns 439,980 shares of the biotechnology company’s stock worth $2,890,000 after buying an additional 22,257 shares during the period. 69.31% of the stock is owned by hedge funds and other institutional investors.
Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) traded up 5.33% during trading on Tuesday, hitting $5.73. 680,867 shares of the company traded hands. The firm’s market cap is $454.41 million. Spectrum Pharmaceuticals, Inc. has a one year low of $3.21 and a one year high of $7.74. The firm has a 50 day moving average of $4.77 and a 200 day moving average of $4.78.
Spectrum Pharmaceuticals (NASDAQ:SPPI) last released its quarterly earnings results on Monday, November 14th. The biotechnology company reported ($0.22) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.30) by $0.08. Spectrum Pharmaceuticals had a negative net margin of 34.19% and a negative return on equity of 13.92%. On average, analysts expect that Spectrum Pharmaceuticals, Inc. will post ($1.00) earnings per share for the current fiscal year.
“Iat Reinsurance Co. LTD. Maintains Position in Spectrum Pharmaceuticals, Inc. (SPPI)” was first posted by sleekmoney and is the property of of sleekmoney. If you are accessing this report on another website, it was copied illegally and reposted in violation of U.S. & international copyright law. The legal version of this report can be viewed at http://sleekmoney.com/iat-reinsurance-co-ltd-maintains-position-in-spectrum-pharmaceuticals-inc-sppi/1661181.html.
A number of brokerages have weighed in on SPPI. Jefferies Group LLC began coverage on shares of Spectrum Pharmaceuticals in a report on Friday. They issued a “buy” rating and a $8.00 price target on the stock. Zacks Investment Research lowered shares of Spectrum Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Wednesday, January 11th. Finally, HC Wainwright reiterated a “buy” rating and issued a $10.00 price target on shares of Spectrum Pharmaceuticals in a report on Friday, November 4th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $8.50.
About Spectrum Pharmaceuticals
Spectrum Pharmaceuticals, Inc is a biotechnology company. The Company operates through developing and commercializing oncology and hematology drug products segment. It has approximately six approved oncology/hematology products that target different types of non-Hodgkin’s lymphoma (NHL), metastatic colorectal cancer, acute lymphoblastic leukemia (ALL) and multiple myeloma (MM).
Want to see what other hedge funds are holding SPPI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI).
This story was originally published by sleekmoney (http://sleekmoney.com) and is the sole property of sleekmoney. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at http://sleekmoney.com/iat-reinsurance-co-ltd-maintains-position-in-spectrum-pharmaceuticals-inc-sppi/1661181.html
Receive News & Ratings for Spectrum Pharmaceuticals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spectrum Pharmaceuticals Inc. and related companies with MarketBeat.com's FREE daily email newsletter.