Rhumbline Advisers grew its stake in Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) by 4.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 163,884 shares of the biotechnology company’s stock after purchasing an additional 7,550 shares during the period. Rhumbline Advisers owned about 0.16% of Spectrum Pharmaceuticals worth $2,306,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of SPPI. Texas Permanent School Fund lifted its holdings in shares of Spectrum Pharmaceuticals by 0.7% during the 2nd quarter. Texas Permanent School Fund now owns 51,664 shares of the biotechnology company’s stock worth $385,000 after acquiring an additional 338 shares during the period. Bank of Montreal Can lifted its holdings in shares of Spectrum Pharmaceuticals by 0.7% during the 2nd quarter. Bank of Montreal Can now owns 113,035 shares of the biotechnology company’s stock worth $843,000 after acquiring an additional 827 shares during the period. Municipal Employees Retirement System of Michigan lifted its holdings in shares of Spectrum Pharmaceuticals by 5.6% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 16,720 shares of the biotechnology company’s stock worth $125,000 after acquiring an additional 880 shares during the period. Thrivent Financial For Lutherans lifted its holdings in shares of Spectrum Pharmaceuticals by 4.6% during the 2nd quarter. Thrivent Financial For Lutherans now owns 42,680 shares of the biotechnology company’s stock worth $318,000 after acquiring an additional 1,890 shares during the period. Finally, New York State Teachers Retirement System lifted its holdings in Spectrum Pharmaceuticals by 4.6% during the 3rd quarter. New York State Teachers Retirement System now owns 88,795 shares of the biotechnology company’s stock valued at $1,249,000 after purchasing an additional 3,900 shares during the last quarter. Institutional investors own 71.87% of the company’s stock.
Shares of Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) traded up $0.11 during midday trading on Tuesday, reaching $19.06. 929,160 shares of the company were exchanged, compared to its average volume of 1,217,400. The firm has a market capitalization of $1,907.55, a PE ratio of -19.25 and a beta of 1.64. The company has a debt-to-equity ratio of 0.33, a quick ratio of 4.89 and a current ratio of 5.04. Spectrum Pharmaceuticals, Inc. has a 52-week low of $4.28 and a 52-week high of $21.95.
Spectrum Pharmaceuticals (NASDAQ:SPPI) last issued its quarterly earnings data on Thursday, November 2nd. The biotechnology company reported ($0.22) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.16) by ($0.06). Spectrum Pharmaceuticals had a negative net margin of 58.94% and a negative return on equity of 29.73%. The firm had revenue of $36.40 million for the quarter, compared to analyst estimates of $33.27 million. During the same quarter in the prior year, the firm posted ($0.07) EPS. The firm’s revenue for the quarter was up 9.0% compared to the same quarter last year. analysts forecast that Spectrum Pharmaceuticals, Inc. will post -1.03 EPS for the current year.
Several equities analysts recently issued reports on SPPI shares. HC Wainwright reissued a “buy” rating and set a $14.00 price target on shares of Spectrum Pharmaceuticals in a report on Thursday, September 14th. Jefferies Group lifted their price target on shares of Spectrum Pharmaceuticals from $9.00 to $13.00 and gave the company a “buy” rating in a report on Monday, September 25th. Zacks Investment Research downgraded shares of Spectrum Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Wednesday, October 4th. Guggenheim started coverage on shares of Spectrum Pharmaceuticals in a research note on Monday, October 23rd. They issued a “buy” rating and a $32.00 target price for the company. Finally, B. Riley assumed coverage on shares of Spectrum Pharmaceuticals in a research note on Monday, December 18th. They issued a “buy” rating and a $26.00 target price for the company. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $22.17.
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Spectrum Pharmaceuticals Company Profile
Spectrum Pharmaceuticals, Inc is a biotechnology company. The Company operates through developing and commercializing oncology and hematology drug products segment. It has a product portfolio consisting of both commercial stage and development stage products that address various cancer types. The Company has six approved oncology/hematology products that target different types of cancer, including non-Hodgkin’s lymphoma (NHL), advanced metastatic colorectal cancer (mCRC), acute lymphoblastic leukemia (ALL) and multiple myeloma (MM).
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