Spectrum Pharmaceuticals, Inc. (SPPI) Now Covered by Analysts at Jefferies Group LLC

Jefferies Group LLC assumed coverage on shares of Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) in a report issued on Friday. The firm issued a buy rating and a $8.00 target price on the biotechnology company’s stock.

A number of other research analysts have also recently weighed in on SPPI. HC Wainwright reiterated a buy rating and issued a $10.00 target price on shares of Spectrum Pharmaceuticals in a report on Friday, November 4th. Zacks Investment Research cut Spectrum Pharmaceuticals from a buy rating to a hold rating in a research note on Friday, October 28th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company. The stock currently has an average rating of Buy and a consensus target price of $8.50.

Shares of Spectrum Pharmaceuticals (NASDAQ:SPPI) opened at 5.67 on Friday. Spectrum Pharmaceuticals has a 12 month low of $3.21 and a 12 month high of $7.74. The stock’s market capitalization is $449.65 million. The company’s 50 day moving average price is $4.71 and its 200 day moving average price is $4.82.

Spectrum Pharmaceuticals (NASDAQ:SPPI) last issued its earnings results on Monday, November 14th. The biotechnology company reported ($0.22) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.30) by $0.08. Spectrum Pharmaceuticals had a negative return on equity of 13.92% and a negative net margin of 34.19%. Equities analysts anticipate that Spectrum Pharmaceuticals will post ($1.00) earnings per share for the current fiscal year.

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Several hedge funds have recently made changes to their positions in the company. Two Sigma Securities LLC acquired a new stake in shares of Spectrum Pharmaceuticals during the third quarter worth about $101,000. Hartford Investment Management Co. raised its stake in shares of Spectrum Pharmaceuticals by 35.8% in the third quarter. Hartford Investment Management Co. now owns 24,300 shares of the biotechnology company’s stock worth $113,000 after buying an additional 6,400 shares during the last quarter. Campbell & CO Investment Adviser LLC raised its stake in shares of Spectrum Pharmaceuticals by 26.2% in the third quarter. Campbell & CO Investment Adviser LLC now owns 29,596 shares of the biotechnology company’s stock worth $138,000 after buying an additional 6,146 shares during the last quarter. Louisiana State Employees Retirement System raised its stake in shares of Spectrum Pharmaceuticals by 15.6% in the third quarter. Louisiana State Employees Retirement System now owns 31,200 shares of the biotechnology company’s stock worth $146,000 after buying an additional 4,200 shares during the last quarter. Finally, Quantitative Systematic Strategies LLC raised its stake in shares of Spectrum Pharmaceuticals by 4.3% in the second quarter. Quantitative Systematic Strategies LLC now owns 24,942 shares of the biotechnology company’s stock worth $164,000 after buying an additional 1,039 shares during the last quarter. 69.31% of the stock is currently owned by institutional investors and hedge funds.

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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