Barrow Hanley Mewhinney & Strauss LLC Cuts Position in Spectrum Pharmaceuticals, Inc. (SPPI)

Barrow Hanley Mewhinney & Strauss LLC reduced its position in Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) by 3.0% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 231,745 shares of the biotechnology company’s stock after selling 7,243 shares during the period. Barrow Hanley Mewhinney & Strauss LLC’s holdings in Spectrum Pharmaceuticals were worth $1,506,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of SPPI. Russell Investments Group Ltd. bought a new position in shares of Spectrum Pharmaceuticals during the fourth quarter worth $196,000. Comerica Bank boosted its position in shares of Spectrum Pharmaceuticals by 5.5% in the fourth quarter. Comerica Bank now owns 75,100 shares of the biotechnology company’s stock worth $349,000 after buying an additional 3,911 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Spectrum Pharmaceuticals by 10.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,970,631 shares of the biotechnology company’s stock worth $8,730,000 after buying an additional 181,018 shares in the last quarter. New York State Teachers Retirement System boosted its position in shares of Spectrum Pharmaceuticals by 0.8% in the fourth quarter. New York State Teachers Retirement System now owns 83,195 shares of the biotechnology company’s stock worth $369,000 after buying an additional 700 shares in the last quarter. Finally, Tudor Investment Corp Et Al boosted its position in shares of Spectrum Pharmaceuticals by 8.7% in the fourth quarter. Tudor Investment Corp Et Al now owns 86,378 shares of the biotechnology company’s stock worth $383,000 after buying an additional 6,934 shares in the last quarter. 67.63% of the stock is currently owned by hedge funds and other institutional investors.

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

Shares of Spectrum Pharmaceuticals, Inc. (NASDAQ SPPI) remained flat at $6.48 during midday trading on Tuesday. The stock had a trading volume of 265,712 shares. Spectrum Pharmaceuticals, Inc. has a 12-month low of $3.21 and a 12-month high of $8.00. The firm’s market cap is $508.83 million. The firm’s 50 day moving average price is $6.36 and its 200-day moving average price is $5.64.

Spectrum Pharmaceuticals (NASDAQ:SPPI) last announced its quarterly earnings results on Tuesday, May 2nd. The biotechnology company reported ($0.18) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.20) by $0.02. Spectrum Pharmaceuticals had a negative return on equity of 24.06% and a negative net margin of 62.39%. The company had revenue of $29.10 million during the quarter, compared to the consensus estimate of $32.23 million. On average, equities analysts anticipate that Spectrum Pharmaceuticals, Inc. will post ($1.08) EPS for the current year.

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SPPI has been the topic of a number of analyst reports. FBR & Co set a $11.00 price target on Spectrum Pharmaceuticals and gave the stock a “buy” rating in a research note on Saturday, March 11th. HC Wainwright set a $10.00 price target on Spectrum Pharmaceuticals and gave the stock a “buy” rating in a research note on Saturday, March 11th. Jefferies Group LLC reissued a “buy” rating and issued a $7.50 price target on shares of Spectrum Pharmaceuticals in a research note on Friday, March 24th. ValuEngine raised Spectrum Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Thursday, May 11th. Finally, Zacks Investment Research raised Spectrum Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Tuesday, June 6th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $8.90.

Spectrum Pharmaceuticals Company Profile

Spectrum Pharmaceuticals, Inc is a biotechnology company. The Company operates through developing and commercializing oncology and hematology drug products segment. It has a product portfolio consisting of both commercial stage and development stage products that address various cancer types. The Company has six approved oncology/hematology products that target different types of cancer, including non-Hodgkin’s lymphoma (NHL), advanced metastatic colorectal cancer (mCRC), acute lymphoblastic leukemia (ALL) and multiple myeloma (MM).

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