Spectrum Pharmaceuticals (NASDAQ:SPPI) Issues Quarterly Earnings Results

Spectrum Pharmaceuticals (NASDAQ:SPPI) posted its quarterly earnings data on Thursday. The biotechnology company reported ($0.23) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.31) by $0.08, Fidelity Earnings reports. During the same quarter in the previous year, the company earned ($0.24) EPS.

Shares of NASDAQ:SPPI traded up $0.68 during midday trading on Friday, hitting $8.62. The company’s stock had a trading volume of 1,379,200 shares, compared to its average volume of 869,891. The company has a market cap of $929.93 million, a P/E ratio of -8.53 and a beta of 2.57. The company has a debt-to-equity ratio of 0.04, a quick ratio of 5.37 and a current ratio of 5.37. Spectrum Pharmaceuticals has a 12-month low of $6.22 and a 12-month high of $14.65. The business’s 50 day simple moving average is $8.11 and its 200 day simple moving average is $8.18.

In other news, insider Francois Lebel sold 6,963 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $8.16, for a total transaction of $56,818.08. Following the completion of the sale, the insider now owns 113,970 shares in the company, valued at approximately $929,995.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 9.35% of the stock is currently owned by insiders.

Several equities analysts have recently weighed in on the stock. ValuEngine downgraded shares of Spectrum Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Monday, September 30th. HC Wainwright reissued a “buy” rating on shares of Spectrum Pharmaceuticals in a research note on Friday, October 25th. Zacks Investment Research raised shares of Spectrum Pharmaceuticals from a “hold” rating to a “buy” rating and set a $8.50 price target on the stock in a research note on Thursday, October 17th. BidaskClub downgraded shares of Spectrum Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Thursday, October 10th. Finally, B. Riley set a $18.00 price target on shares of Spectrum Pharmaceuticals and gave the stock a “buy” rating in a research note on Friday, August 23rd. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $20.92.

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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Earnings History for Spectrum Pharmaceuticals (NASDAQ:SPPI)

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