Spectrum Pharmaceuticals (SPPI) Receives “Buy” Rating from Jefferies Financial Group

Spectrum Pharmaceuticals (NASDAQ:SPPI)‘s stock had its “buy” rating reissued by analysts at Jefferies Financial Group in a report released on Friday. They currently have a $21.00 price objective on the biotechnology company’s stock. Jefferies Financial Group’s target price would suggest a potential upside of 110.42% from the stock’s current price.

Several other research analysts also recently issued reports on the company. BidaskClub raised Spectrum Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Tuesday, January 15th. HC Wainwright reaffirmed a “buy” rating and issued a $40.00 price objective on shares of Spectrum Pharmaceuticals in a research note on Thursday, January 10th. ValuEngine raised Spectrum Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Saturday, December 1st. Cantor Fitzgerald started coverage on Spectrum Pharmaceuticals in a research note on Thursday, February 7th. They issued an “overweight” rating and a $19.00 price objective for the company. Finally, B. Riley lowered their price objective on Spectrum Pharmaceuticals to $21.00 and set a “buy” rating for the company in a research note on Thursday, December 20th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Spectrum Pharmaceuticals has an average rating of “Buy” and a consensus price target of $24.20.

Spectrum Pharmaceuticals stock opened at $9.98 on Friday. Spectrum Pharmaceuticals has a 1 year low of $6.22 and a 1 year high of $25.29. The company has a market capitalization of $1.11 billion, a PE ratio of -9.88 and a beta of 2.71.

In other Spectrum Pharmaceuticals news, Director Anthony E. Maida III sold 5,500 shares of the stock in a transaction that occurred on Thursday, February 21st. The shares were sold at an average price of $11.63, for a total transaction of $63,965.00. Following the completion of the sale, the director now owns 38,488 shares of the company’s stock, valued at approximately $447,615.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Keith M. Mcgahan sold 2,496 shares of the stock in a transaction that occurred on Thursday, February 7th. The shares were sold at an average price of $11.03, for a total transaction of $27,530.88. Following the sale, the senior vice president now directly owns 103,577 shares of the company’s stock, valued at approximately $1,142,454.31. The disclosure for this sale can be found here. Insiders have sold a total of 119,591 shares of company stock valued at $1,286,387 in the last three months. Insiders own 9.35% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in SPPI. Exane Derivatives acquired a new stake in Spectrum Pharmaceuticals during the 4th quarter valued at approximately $26,000. Oregon Public Employees Retirement Fund bought a new position in shares of Spectrum Pharmaceuticals during the 4th quarter worth approximately $39,000. First Mercantile Trust Co. boosted its holdings in shares of Spectrum Pharmaceuticals by 69.1% during the 4th quarter. First Mercantile Trust Co. now owns 4,795 shares of the biotechnology company’s stock worth $42,000 after buying an additional 1,960 shares in the last quarter. LS Investment Advisors LLC boosted its holdings in shares of Spectrum Pharmaceuticals by 100.6% during the 4th quarter. LS Investment Advisors LLC now owns 6,460 shares of the biotechnology company’s stock worth $57,000 after buying an additional 3,239 shares in the last quarter. Finally, Flinton Capital Management LLC boosted its holdings in shares of Spectrum Pharmaceuticals by 20.2% during the 4th quarter. Flinton Capital Management LLC now owns 10,384 shares of the biotechnology company’s stock worth $91,000 after buying an additional 1,744 shares in the last quarter. 79.06% of the stock is owned by institutional investors and hedge funds.

Spectrum Pharmaceuticals Company Profile

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.

Further Reading: Return on Investment (ROI)

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