Spectrum Pharmaceuticals (NASDAQ:SPPI) CFO Kurt A. Gustafson sold 2,640 shares of the firm’s stock in a transaction on Thursday, March 22nd. The stock was sold at an average price of $18.13, for a total value of $47,863.20. Following the transaction, the chief financial officer now directly owns 192,843 shares of the company’s stock, valued at approximately $3,496,243.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Shares of Spectrum Pharmaceuticals (NASDAQ SPPI) opened at $17.27 on Monday. Spectrum Pharmaceuticals has a fifty-two week low of $5.47 and a fifty-two week high of $23.50. The stock has a market capitalization of $1,773.88, a price-to-earnings ratio of -16.29 and a beta of 1.59.
Spectrum Pharmaceuticals (NASDAQ:SPPI) last posted its quarterly earnings data on Tuesday, March 6th. The biotechnology company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.04). Spectrum Pharmaceuticals had a negative return on equity of 30.68% and a negative net margin of 70.66%. The business had revenue of $28.57 million for the quarter, compared to analyst estimates of $33.18 million. During the same quarter last year, the business earned ($0.10) EPS. Spectrum Pharmaceuticals’s revenue for the quarter was down 18.9% compared to the same quarter last year. research analysts forecast that Spectrum Pharmaceuticals will post -1.14 earnings per share for the current fiscal year.
Several research firms have weighed in on SPPI. Zacks Investment Research raised Spectrum Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, January 12th. BidaskClub downgraded Spectrum Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 3rd. HC Wainwright reissued a “buy” rating and set a $29.00 price target on shares of Spectrum Pharmaceuticals in a research report on Monday, December 18th. B. Riley began coverage on Spectrum Pharmaceuticals in a research report on Monday, December 18th. They set a “buy” rating and a $26.00 price target for the company. Finally, TheStreet downgraded Spectrum Pharmaceuticals from a “c-” rating to a “d+” rating in a research report on Friday, March 16th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $25.20.
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About Spectrum Pharmaceuticals
Spectrum Pharmaceuticals, Inc develops and commercializes oncology and hematology drug products. The company markets six drug products, including FUSILEV for patients with metastatic colorectal cancer and rescue after high-dose methotrexate therapy in osteosarcoma, and to diminish toxicity and counteract the effects of impaired methotrexate elimination and of inadvertent overdosage of folic acid antagonists; FOLOTYN, a folate analogue metabolic inhibitor for peripheral T-cell lymphoma (PTCL); ZEVALIN injection for patients with B-cell non-Hodgkin's lymphoma; MARQIBO, a sphingomyelin/cholesterol liposome-encapsulated formulation for adult patients with Philadelphia chromosome-negative acute lymphoblastic leukemia; BELEODAQ injection for PTCL; and EVOMELA for use as a conditioning treatment prior to autologous stem cell transplant in multiple myeloma patients.
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