Macquarie Group Ltd. decreased its position in shares of Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) by 34.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,479,513 shares of the biotechnology company’s stock after selling 767,980 shares during the quarter. Macquarie Group Ltd. owned 1.47% of Spectrum Pharmaceuticals worth $20,817,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also recently bought and sold shares of SPPI. State of Alaska Department of Revenue grew its holdings in shares of Spectrum Pharmaceuticals by 77.1% during the second quarter. State of Alaska Department of Revenue now owns 13,918 shares of the biotechnology company’s stock valued at $103,000 after buying an additional 6,058 shares during the last quarter. Piedmont Investment Advisors LLC purchased a new stake in Spectrum Pharmaceuticals in the second quarter worth approximately $114,000. Municipal Employees Retirement System of Michigan boosted its holdings in Spectrum Pharmaceuticals by 5.6% in the second quarter. Municipal Employees Retirement System of Michigan now owns 16,720 shares of the biotechnology company’s stock worth $125,000 after purchasing an additional 880 shares during the last quarter. Pillar Pacific Capital Management LLC purchased a new stake in Spectrum Pharmaceuticals in the second quarter worth approximately $138,000. Finally, BNP Paribas Arbitrage SA boosted its holdings in Spectrum Pharmaceuticals by 87.5% in the second quarter. BNP Paribas Arbitrage SA now owns 21,347 shares of the biotechnology company’s stock worth $159,000 after purchasing an additional 9,960 shares during the last quarter. Hedge funds and other institutional investors own 58.45% of the company’s stock.
Several brokerages recently issued reports on SPPI. HC Wainwright restated a “buy” rating on shares of Spectrum Pharmaceuticals in a report on Friday, November 3rd. Guggenheim began coverage on shares of Spectrum Pharmaceuticals in a report on Monday, October 23rd. They issued a “buy” rating and a $32.00 target price on the stock. Jefferies Group LLC raised their target price on shares of Spectrum Pharmaceuticals to $25.00 and gave the stock a “buy” rating in a report on Friday, October 20th. Zacks Investment Research cut shares of Spectrum Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Wednesday, October 4th. Finally, ValuEngine upgraded shares of Spectrum Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday, August 17th. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $21.40.
Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) opened at $19.83 on Friday. Spectrum Pharmaceuticals, Inc. has a one year low of $3.85 and a one year high of $21.95. 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 (NASDAQ:SPPI) last announced its quarterly earnings data on Thursday, November 2nd. The biotechnology company reported ($0.22) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.16) by ($0.06). The firm had revenue of $36.40 million for the quarter, compared to the consensus estimate of $33.27 million. Spectrum Pharmaceuticals had a negative net margin of 58.94% and a negative return on equity of 29.73%. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.07) earnings per share. analysts expect that Spectrum Pharmaceuticals, Inc. will post -1.03 earnings per share for the current year.
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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