Iat Reinsurance Co. LTD. Maintains Position in Spectrum Pharmaceuticals, Inc. (SPPI)

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.

Institutional Ownership by Quarter for Spectrum Pharmaceuticals (NASDAQ:SPPI)

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.

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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).

5 Day Chart for NASDAQ:SPPI

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