State of Tennessee Treasury Department Boosts Stock Position in Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI)

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State of Tennessee Treasury Department boosted its holdings in Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) by 12.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 79,536 shares of the biotechnology company’s stock after buying an additional 8,729 shares during the period. State of Tennessee Treasury Department owned 0.07% of Spectrum Pharmaceuticals worth $660,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Flinton Capital Management LLC boosted its stake in Spectrum Pharmaceuticals by 15.3% in the 2nd quarter. Flinton Capital Management LLC now owns 11,968 shares of the biotechnology company’s stock worth $103,000 after buying an additional 1,584 shares during the last quarter. Riverhead Capital Management LLC boosted its stake in Spectrum Pharmaceuticals by 14.8% in the 2nd quarter. Riverhead Capital Management LLC now owns 13,200 shares of the biotechnology company’s stock worth $114,000 after buying an additional 1,700 shares during the last quarter. UBS Asset Management Americas Inc. boosted its stake in Spectrum Pharmaceuticals by 3.2% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 55,195 shares of the biotechnology company’s stock worth $475,000 after buying an additional 1,729 shares during the last quarter. Quantamental Technologies LLC boosted its stake in Spectrum Pharmaceuticals by 22.5% in the 2nd quarter. Quantamental Technologies LLC now owns 9,563 shares of the biotechnology company’s stock worth $82,000 after buying an additional 1,757 shares during the last quarter. Finally, United Services Automobile Association boosted its stake in Spectrum Pharmaceuticals by 13.3% in the 2nd quarter. United Services Automobile Association now owns 15,778 shares of the biotechnology company’s stock worth $136,000 after buying an additional 1,852 shares during the last quarter. 73.43% of the stock is currently owned by hedge funds and other institutional investors.

SPPI has been the topic of a number of research analyst reports. BidaskClub lowered Spectrum Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Thursday, October 10th. B. Riley set a $18.00 price target on Spectrum Pharmaceuticals and gave the stock a “buy” rating in a research note on Friday, August 23rd. ValuEngine lowered Spectrum Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Thursday. HC Wainwright reissued a “buy” rating on shares of Spectrum Pharmaceuticals in a research note on Friday, October 25th. Finally, Zacks Investment Research raised Spectrum Pharmaceuticals from a “hold” rating to a “buy” rating and set a $8.50 price target on the stock in a research note on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $20.92.

In other news, insider Francois Lebel sold 6,963 shares of Spectrum Pharmaceuticals stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $8.16, for a total value of $56,818.08. Following the transaction, the insider now directly owns 113,970 shares of the company’s stock, valued at approximately $929,995.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 9.35% of the company’s stock.

NASDAQ SPPI opened at $8.03 on Friday. Spectrum Pharmaceuticals, Inc. has a 1-year low of $6.22 and a 1-year high of $14.65. The business’s 50-day simple moving average is $8.05 and its 200-day simple moving average is $8.16.

Spectrum Pharmaceuticals (NASDAQ:SPPI) last released its quarterly earnings data on Thursday, November 7th. The biotechnology company reported ($0.23) earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.08. During the same period last year, the business earned ($0.24) earnings per share. Sell-side analysts expect that Spectrum Pharmaceuticals, Inc. will post -1.09 EPS for the current fiscal year.

About Spectrum Pharmaceuticals

Spectrum Pharmaceuticals, Inc develops and commercializes oncology and hematology drug products. The company offers KHAPZORY, a novel folate analog and the pharmacologically active levo-isomer of d, and 1-leucovorin; FOLOTYN, a folate analogue metabolic inhibitor for peripheral T-cell lymphoma (PTCL); ZEVALIN injection to treat non-Hodgkin's lymphoma; MARQIBO for adult patients with Philadelphia chromosome-negative acute lymphoblastic leukemia; BELEODAQ, a histone deacytelase, or HDAC, inhibitor for the treatment of patients with relapsed or refractory PTCL; and EVOMELA for use as a conditioning treatment prior to autologous stem cell transplant in multiple myeloma patients.

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Institutional Ownership by Quarter for Spectrum Pharmaceuticals (NASDAQ:SPPI)

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