Spectrum Pharmaceuticals (NASDAQ:SPPI) CEO Joseph W. Turgeon sold 3,100 shares of Spectrum Pharmaceuticals stock in a transaction dated Thursday, March 22nd. The shares were sold at an average price of $18.17, for a total transaction of $56,327.00. Following the sale, the chief executive officer now owns 332,884 shares in the company, valued at $6,048,502.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Spectrum Pharmaceuticals (SPPI) traded down $0.23 during trading on Friday, reaching $17.28. 880,541 shares of the company’s stock traded hands, compared to its average volume of 1,180,455. Spectrum Pharmaceuticals has a 12-month low of $5.47 and a 12-month high of $23.50. The company has a market capitalization of $1,886.87, a PE ratio of -16.30 and a beta of 1.59.
Spectrum Pharmaceuticals (NASDAQ:SPPI) last issued its quarterly earnings results on Tuesday, March 6th. The biotechnology company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.04). Spectrum Pharmaceuticals had a negative return on equity of 30.68% and a negative net margin of 70.66%. The business had revenue of $28.57 million during the quarter, compared to the consensus estimate of $33.18 million. During the same quarter last year, the firm posted ($0.10) earnings per share. Spectrum Pharmaceuticals’s revenue was down 18.9% compared to the same quarter last year. equities analysts anticipate that Spectrum Pharmaceuticals will post -1.14 EPS for the current fiscal year.
SPPI has been the topic of a number of recent analyst reports. HC Wainwright restated a “buy” rating and set a $29.00 price objective on shares of Spectrum Pharmaceuticals in a research note on Monday, December 18th. B. Riley initiated coverage on shares of Spectrum Pharmaceuticals in a research note on Monday, December 18th. They set a “buy” rating and a $26.00 price objective on the stock. BidaskClub cut shares of Spectrum Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 3rd. TheStreet cut shares of Spectrum Pharmaceuticals from a “c-” rating to a “d+” rating in a research report on Friday, March 16th. Finally, Zacks Investment Research upgraded shares of Spectrum Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, January 12th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $25.20.
Institutional investors have recently modified their holdings of the business. Flinton Capital Management LLC raised its position in Spectrum Pharmaceuticals by 111.0% in the fourth quarter. Flinton Capital Management LLC now owns 7,088 shares of the biotechnology company’s stock worth $134,000 after acquiring an additional 3,728 shares in the last quarter. Jane Street Group LLC bought a new stake in Spectrum Pharmaceuticals in the third quarter worth about $152,000. Los Angeles Capital Management & Equity Research Inc. bought a new stake in Spectrum Pharmaceuticals in the third quarter worth about $177,000. Meadow Creek Investment Management LLC increased its stake in Spectrum Pharmaceuticals by 111.0% in the 4th quarter. Meadow Creek Investment Management LLC now owns 9,746 shares of the biotechnology company’s stock worth $185,000 after purchasing an additional 5,126 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC purchased a new position in Spectrum Pharmaceuticals in the 3rd quarter worth about $192,000. Hedge funds and other institutional investors own 77.32% of the company’s stock.
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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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