Insider Selling: Spectrum Pharmaceuticals (SPPI) CFO Sells $47,863.20 in Stock

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.

How to Become a New Pot Stock Millionaire

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.

Hedge funds have recently bought and sold shares of the company. Ashford Capital Management Inc. acquired a new position in Spectrum Pharmaceuticals in the fourth quarter valued at $6,872,000. MetLife Investment Advisors LLC acquired a new position in Spectrum Pharmaceuticals in the fourth quarter valued at $770,000. Municipal Employees Retirement System of Michigan boosted its holdings in Spectrum Pharmaceuticals by 19.7% in the fourth quarter. Municipal Employees Retirement System of Michigan now owns 34,270 shares of the biotechnology company’s stock valued at $649,000 after acquiring an additional 5,650 shares during the last quarter. Kazazian Asset Management LLC acquired a new position in Spectrum Pharmaceuticals in the fourth quarter valued at $616,000. Finally, Flinton Capital Management LLC boosted its holdings in Spectrum Pharmaceuticals by 111.0% in the fourth quarter. Flinton Capital Management LLC now owns 7,088 shares of the biotechnology company’s stock valued at $134,000 after acquiring an additional 3,728 shares during the last quarter. Institutional investors and hedge funds own 77.32% of the company’s stock.

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.

TRADEMARK VIOLATION WARNING: This piece was first posted by Ticker Report and is the property of of Ticker Report. If you are accessing this piece on another website, it was copied illegally and reposted in violation of international trademark and copyright laws. The correct version of this piece can be viewed at https://www.tickerreport.com/banking-finance/3302045/insider-selling-spectrum-pharmaceuticals-sppi-cfo-sells-47863-20-in-stock.html.

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.

Receive News & Ratings for Spectrum Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spectrum Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

First Allied Advisory Services Inc. Sells 4,990 Shares of AbbVie Inc.
First Allied Advisory Services Inc. Sells 4,990 Shares of AbbVie Inc.
Chevron Co.  Holdings Increased by Essex Investment Management Co. LLC
Chevron Co. Holdings Increased by Essex Investment Management Co. LLC
JPMorgan Chase  Position Lifted by Dimension Capital Management LLC
JPMorgan Chase Position Lifted by Dimension Capital Management LLC
Apple  Stake Lessened by Duff & Phelps Investment Management Co.
Apple Stake Lessened by Duff & Phelps Investment Management Co.
Cloud Peak Energy  Shares Bought by Geode Capital Management LLC
Cloud Peak Energy Shares Bought by Geode Capital Management LLC
Geode Capital Management LLC Acquires 8,665 Shares of MidWestOne Financial Group
Geode Capital Management LLC Acquires 8,665 Shares of MidWestOne Financial Group


© 2006-2018 Ticker Report. Google+.