Spectrum Pharmaceuticals (NASDAQ:SPPI) announced its quarterly earnings data on Tuesday, March 6th. The biotechnology company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.04), Bloomberg Earnings reports. Spectrum Pharmaceuticals had a negative net margin of 70.66% and a negative return on equity of 30.68%. The company had revenue of $28.57 million for the quarter, compared to analyst estimates of $33.18 million. During the same quarter last year, the company posted ($0.10) EPS. Spectrum Pharmaceuticals’s revenue was down 18.9% on a year-over-year basis.
Spectrum Pharmaceuticals (NASDAQ SPPI) traded up $0.23 on Wednesday, hitting $18.61. The stock had a trading volume of 1,038,247 shares, compared to its average volume of 1,196,423. The stock has a market capitalization of $1,956.71, a price-to-earnings ratio of -17.56 and a beta of 1.59. Spectrum Pharmaceuticals has a one year low of $5.47 and a one year high of $23.50.
A number of brokerages have recently commented on SPPI. Zacks Investment Research upgraded Spectrum Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, January 12th. HC Wainwright increased their price objective on Spectrum Pharmaceuticals to $33.00 and gave the company a “buy” rating in a research report on Monday, February 5th. BidaskClub downgraded Spectrum Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 3rd. Finally, B. Riley began coverage on Spectrum Pharmaceuticals in a research report on Monday, December 18th. They set a “buy” rating and a $26.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Spectrum Pharmaceuticals currently has a consensus rating of “Buy” and an average price target of $25.20.
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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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