StemCell Therapy

Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) Equities research analysts at Jefferies Financial Group issued their FY2024 earnings estimates for shares of Spectrum Pharmaceuticals in a research report issued to clients and investors on Wednesday, March 4th. Jefferies Financial Group analyst M. Raycroft anticipates that the biotechnology company will post earnings per share of $1.59 for the year.

Several other equities analysts also recently commented on SPPI. HC Wainwright assumed coverage on shares of Spectrum Pharmaceuticals in a research note on Thursday, December 26th. They issued a buy rating and a $11.00 price objective for the company. B. Riley dropped their price objective on shares of Spectrum Pharmaceuticals from $11.00 to $8.00 and set a buy rating for the company in a research note on Monday, March 2nd. Zacks Investment Research downgraded shares of Spectrum Pharmaceuticals from a buy rating to a hold rating and set a $3.75 price objective for the company. in a research note on Friday, January 3rd. Cantor Fitzgerald reissued a neutral rating and issued a $4.00 price objective (down previously from $17.00) on shares of Spectrum Pharmaceuticals in a research note on Thursday, December 26th. Finally, BidaskClub downgraded shares of Spectrum Pharmaceuticals from a hold rating to a sell rating in a research note on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of Hold and an average target price of $11.13.

Spectrum Pharmaceuticals (NASDAQ:SPPI) last issued its quarterly earnings data on Thursday, February 27th. The biotechnology company reported ($0.35) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.33) by ($0.02). The companys revenue was up NaN% on a year-over-year basis. During the same quarter last year, the company earned ($0.30) EPS.

In other Spectrum Pharmaceuticals news, COO Thomas J. Riga sold 11,381 shares of the companys stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $3.37, for a total value of $38,353.97. Following the completion of the transaction, the chief operating officer now directly owns 246,678 shares in the company, valued at approximately $831,304.86. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Over the last 90 days, insiders sold 40,764 shares of company stock valued at $123,463. Corporate insiders own 4.17% of the companys stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in SPPI. Nisa Investment Advisors LLC increased its position in Spectrum Pharmaceuticals by 1,280.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 6,900 shares of the biotechnology companys stock valued at $25,000 after acquiring an additional 6,400 shares during the period. Clear Harbor Asset Management LLC acquired a new position in Spectrum Pharmaceuticals in the 4th quarter valued at approximately $36,000. Tower Research Capital LLC TRC increased its position in Spectrum Pharmaceuticals by 251.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 10,346 shares of the biotechnology companys stock valued at $38,000 after acquiring an additional 7,401 shares during the period. Los Angeles Capital Management & Equity Research Inc. acquired a new position in Spectrum Pharmaceuticals in the 4th quarter valued at approximately $55,000. Finally, Bank of Montreal Can increased its position in Spectrum Pharmaceuticals by 27.7% in the 4th quarter. Bank of Montreal Can now owns 18,412 shares of the biotechnology companys stock valued at $67,000 after acquiring an additional 3,989 shares during the period. Hedge funds and other institutional investors own 68.53% of the companys stock.

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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Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) Forecasted to Earn FY2024 Earnings of $1.59 Per Share - Redmond Register

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