Spectrum Pharmaceuticals (NASDAQ:SPPI) was downgraded by stock analysts at ValuEngine from a “buy” rating to a “hold” rating in a report released on Monday, February 4th.
Several other equities analysts also recently commented on SPPI. Zacks Investment Research restated a “hold” rating on shares of Spectrum Pharmaceuticals in a research note on Friday, November 16th. BidaskClub upgraded shares of Spectrum Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Thursday, December 27th. B. Riley decreased their price target on shares of Spectrum Pharmaceuticals to $21.00 and set a “buy” rating on the stock in a research note on Thursday, December 20th. Finally, HC Wainwright reiterated a “buy” rating and set a $40.00 price objective on shares of Spectrum Pharmaceuticals in a research note on Thursday, January 10th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $25.00.
Shares of SPPI opened at $10.48 on Monday. The stock has a market capitalization of $1.26 billion, a PE ratio of -10.38 and a beta of 2.68. Spectrum Pharmaceuticals has a fifty-two week low of $6.22 and a fifty-two week high of $25.29.
In related news, Director Anthony E. Maida III sold 7,250 shares of the firm’s stock in a transaction that occurred on Thursday, December 6th. The shares were sold at an average price of $12.60, for a total value of $91,350.00. Following the completion of the transaction, the director now owns 40,238 shares in the company, valued at approximately $506,998.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Anthony E. Maida III sold 5,500 shares of the firm’s stock in a transaction that occurred on Thursday, February 21st. The shares were sold at an average price of $11.63, for a total transaction of $63,965.00. Following the completion of the transaction, the director now owns 38,488 shares of the company’s stock, valued at approximately $447,615.44. The disclosure for this sale can be found here. Insiders sold 126,841 shares of company stock valued at $1,377,737 in the last three months. Company insiders own 9.35% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the business. Exane Derivatives bought a new position in Spectrum Pharmaceuticals during the 4th quarter worth approximately $26,000. First Mercantile Trust Co. grew its position in shares of Spectrum Pharmaceuticals by 69.1% during the 4th quarter. First Mercantile Trust Co. now owns 4,795 shares of the biotechnology company’s stock worth $42,000 after buying an additional 1,960 shares during the period. LS Investment Advisors LLC grew its position in shares of Spectrum Pharmaceuticals by 100.6% during the 4th quarter. LS Investment Advisors LLC now owns 6,460 shares of the biotechnology company’s stock worth $57,000 after buying an additional 3,239 shares during the period. Northeast Financial Consultants Inc acquired a new stake in shares of Spectrum Pharmaceuticals during the 3rd quarter worth approximately $168,000. Finally, Flinton Capital Management LLC grew its position in shares of Spectrum Pharmaceuticals by 20.2% during the 4th quarter. Flinton Capital Management LLC now owns 10,384 shares of the biotechnology company’s stock worth $91,000 after buying an additional 1,744 shares during the period. Hedge funds and other institutional investors own 81.35% of the company’s stock.
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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