Keith M. Mcgahan Sells 15,733 Shares of Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) Stock

Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI – Get Rating) insider Keith M. Mcgahan sold 15,733 shares of Spectrum Pharmaceuticals stock in a transaction that occurred on Tuesday, March 14th. The stock was sold at an average price of $0.82, for a total value of $12,901.06. Following the transaction, the insider now owns 216,522 shares in the company, valued at approximately $177,548.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Spectrum Pharmaceuticals Price Performance

Shares of Spectrum Pharmaceuticals stock opened at $0.82 on Friday. Spectrum Pharmaceuticals, Inc. has a 52 week low of $0.32 and a 52 week high of $1.57. The business’s fifty day simple moving average is $0.75 and its 200-day simple moving average is $0.62.

Institutional Trading of Spectrum Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of SPPI. BNP Paribas Arbitrage SA boosted its stake in Spectrum Pharmaceuticals by 108.3% during the second quarter. BNP Paribas Arbitrage SA now owns 31,652 shares of the biotechnology company’s stock worth $25,000 after buying an additional 16,460 shares during the period. Mirabella Financial Services LLP acquired a new position in shares of Spectrum Pharmaceuticals in the 1st quarter worth approximately $27,000. Advisor Group Holdings Inc. boosted its position in shares of Spectrum Pharmaceuticals by 121.1% during the 4th quarter. Advisor Group Holdings Inc. now owns 91,972 shares of the biotechnology company’s stock worth $34,000 after purchasing an additional 50,376 shares during the period. Laurion Capital Management LP acquired a new stake in Spectrum Pharmaceuticals in the 2nd quarter valued at approximately $47,000. Finally, Virtu Financial LLC purchased a new stake in Spectrum Pharmaceuticals in the second quarter valued at approximately $48,000. 27.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on SPPI shares. StockNews.com started coverage on Spectrum Pharmaceuticals in a research note on Thursday. They issued a “hold” rating for the company. HC Wainwright restated a “buy” rating and set a $4.00 price objective on shares of Spectrum Pharmaceuticals in a research report on Tuesday, January 31st. Cantor Fitzgerald reduced their target price on shares of Spectrum Pharmaceuticals from $3.00 to $0.75 and set a “neutral” rating on the stock in a research note on Friday, February 3rd. Finally, JMP Securities reissued a “market outperform” rating and issued a $4.00 price target on shares of Spectrum Pharmaceuticals in a research note on Wednesday, February 1st. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $2.44.

About Spectrum Pharmaceuticals

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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 Henderson, NV.