Shares of Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) have been given a consensus rating of “Buy” by the eight research firms that are covering the company, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $29.00.
Several equities research analysts recently commented on SPPI shares. BidaskClub upgraded Spectrum Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Friday, January 26th. B. Riley started coverage on Spectrum Pharmaceuticals in a report on Monday, December 18th. They issued a “buy” rating and a $26.00 price objective for the company. Zacks Investment Research downgraded Spectrum Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, January 2nd. Finally, HC Wainwright reiterated a “buy” rating and issued a $29.00 price objective on shares of Spectrum Pharmaceuticals in a report on Monday, December 18th.
Spectrum Pharmaceuticals (NASDAQ SPPI) traded up $1.12 during midday trading on Wednesday, reaching $18.67. The company had a trading volume of 1,408,735 shares, compared to its average volume of 1,260,000. Spectrum Pharmaceuticals has a 52 week low of $5.47 and a 52 week high of $23.50. The company has a market cap of $2,000.00, a P/E ratio of -27.46 and a beta of 1.58.
Several institutional investors have recently added to or reduced their stakes in the business. Ashford Capital Management Inc. bought a new stake in shares of Spectrum Pharmaceuticals during the 4th quarter valued at about $6,872,000. MetLife Investment Advisors LLC bought a new stake in shares of Spectrum Pharmaceuticals during the 4th quarter valued at about $770,000. Municipal Employees Retirement System of Michigan grew its stake in shares of Spectrum Pharmaceuticals by 19.7% during the 4th quarter. Municipal Employees Retirement System of Michigan now owns 34,270 shares of the biotechnology company’s stock valued at $649,000 after purchasing an additional 5,650 shares during the period. Kazazian Asset Management LLC bought a new stake in shares of Spectrum Pharmaceuticals during the 4th quarter valued at about $616,000. Finally, Flinton Capital Management LLC grew its stake in shares of Spectrum Pharmaceuticals by 111.0% during the 4th quarter. Flinton Capital Management LLC now owns 7,088 shares of the biotechnology company’s stock valued at $134,000 after purchasing an additional 3,728 shares during the period. Institutional investors and hedge funds own 78.37% of the company’s stock.
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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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