Spectrum Pharmaceuticals, Inc. (SPPI) Director Anthony E. Maida III Sells 7,250 Shares

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Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) Director Anthony E. Maida III sold 7,250 shares of Spectrum Pharmaceuticals stock in a transaction on Monday, January 7th. The stock was sold at an average price of $10.00, for a total transaction of $72,500.00. Following the completion of the transaction, the director now directly owns 40,238 shares of the company’s stock, valued at $402,380. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

SPPI stock opened at $10.33 on Thursday. Spectrum Pharmaceuticals, Inc. has a 12 month low of $6.22 and a 12 month high of $25.29. The stock has a market cap of $1.04 billion, a P/E ratio of -9.65 and a beta of 2.56.

Spectrum Pharmaceuticals (NASDAQ:SPPI) last released its quarterly earnings results on Thursday, November 8th. The biotechnology company reported ($0.17) EPS for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.10. Spectrum Pharmaceuticals had a negative net margin of 91.56% and a negative return on equity of 27.72%. The firm had revenue of $25.27 million during the quarter, compared to analysts’ expectations of $25.73 million. During the same period in the previous year, the company earned ($0.11) EPS. The firm’s revenue for the quarter was down 30.6% compared to the same quarter last year. As a group, analysts predict that Spectrum Pharmaceuticals, Inc. will post -0.9 earnings per share for the current year.

Several hedge funds have recently added to or reduced their stakes in the stock. Metropolitan Life Insurance Co. NY boosted its stake in shares of Spectrum Pharmaceuticals by 14.8% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 32,369 shares of the biotechnology company’s stock worth $678,000 after purchasing an additional 4,181 shares during the period. Moody Aldrich Partners LLC boosted its stake in shares of Spectrum Pharmaceuticals by 6.7% during the 3rd quarter. Moody Aldrich Partners LLC now owns 70,935 shares of the biotechnology company’s stock worth $1,192,000 after purchasing an additional 4,437 shares during the period. MetLife Investment Advisors LLC boosted its stake in shares of Spectrum Pharmaceuticals by 12.8% during the 2nd quarter. MetLife Investment Advisors LLC now owns 45,835 shares of the biotechnology company’s stock worth $961,000 after purchasing an additional 5,188 shares during the period. B. Riley Financial Inc. boosted its stake in shares of Spectrum Pharmaceuticals by 28.1% during the 3rd quarter. B. Riley Financial Inc. now owns 24,737 shares of the biotechnology company’s stock worth $416,000 after purchasing an additional 5,422 shares during the period. Finally, United Services Automobile Association boosted its stake in shares of Spectrum Pharmaceuticals by 11.7% during the 2nd quarter. United Services Automobile Association now owns 53,987 shares of the biotechnology company’s stock worth $1,132,000 after purchasing an additional 5,635 shares during the period. 82.11% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts have commented on the stock. Zacks Investment Research reissued a “hold” rating on shares of Spectrum Pharmaceuticals in a research note on Friday, November 16th. ValuEngine cut shares of Spectrum Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Thursday, November 1st. BidaskClub raised shares of Spectrum Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Thursday, December 27th. B. Riley dropped their price objective on shares of Spectrum Pharmaceuticals to $21.00 and set a “buy” rating for the company in a research note on Thursday, December 20th. Finally, TheStreet cut shares of Spectrum Pharmaceuticals from a “c” rating to a “d+” rating in a research note on Wednesday, September 26th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $27.00.

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Spectrum Pharmaceuticals Company Profile

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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Insider Buying and Selling by Quarter for Spectrum Pharmaceuticals (NASDAQ:SPPI)

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