Spectrum Pharmaceuticals (SPPI:NSD) has received mixed ratings from equities analysts in recent reports. Cantor Fitzgerald reduced its price target on the SPPI stock from $3.00 to $0.75 and assigned a “Neutral” rating on February 3rd.
On January 31st, HC Wainwright reaffirmed a “Buy” rating and set a price target of $4.00. Similarly, JMP Securities reiterated a “Market Outperform” rating and set a $4.00 price target on February 1st.
SPPI Stock Price Analysis:
On Tuesday, SPPI stock opened at $0.68 and has a 50-day moving average of $0.78 and a 200-day moving average of $0.59. Its 12-month low is $0.32, and its 12-month high is $1.57.
The company has a current ratio of 2.37, a quick ratio of 2.09, and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $138.12 million, a P/E ratio of -1.58, and a beta of 2.26.
The consensus rating for the stock is “Buy,” according to Stock Target Advisor, and the average target price is $2.44.
SPPI Stock-Insider Transactions:
In insider trading, CEO Thomas J. Riga sold a total of 69,389 shares on January 30th at an average price of $0.54, for a total transaction value of $37,470.06. He now owns 2,008,022 shares valued at approximately $1,084,331.88.
Riga also sold 37,009 shares on February 22nd at an average price of $0.77, for a total value of $28,496.93. Insiders have sold a total of 202,341 shares worth $126,073 in the last 90 days, representing 2.70% of the SPPI stock.
Hedge Funds & Institutional Investors:
Institutional investors and hedge funds have recently bought and sold shares of Spectrum Pharmaceuticals stock. Mirabella Financial Services LLP acquired a new stake in the company in the first quarter for approximately $27,000, while BNP Paribas Arbitrage SA raised its position by 108.3% in the second quarter, owning 31,652 shares worth $25,000.
Laurion Capital Management LP bought a new position in the second quarter worth approximately $47,000, and Virtu Financial LLC bought a new position worth approximately $48,000. Advisor Group Holdings Inc. raised its position by 121.1% in the fourth quarter, owning 91,972 shares worth $34,000. Institutional investors and hedge funds now own 27.95% of the SPPI stock.
Spectrum Pharmaceuticals, Inc., a biopharmaceutical company, develops and commercializes oncology and hematology drug products.
The company’s products under development include Eflapegrastim, a novel long-acting granulocyte colony-stimulating factor for chemotherapy-induced neutropenia; Poziotinib, a novel irreversible tyrosine kinase inhibitor for non-small cell lung cancer tumors with various mutations; and Anti-CD20-IFNa, an antibody-interferon fusion molecule directed against CD20 that is in Phase I development for the treatment of patients with relapsed or refractory non-Hodgkin’s lymphoma, including diffuse large B-cell lymphoma.
The company was formerly known as NeoTherapeutics, Inc. and changed its name to Spectrum Pharmaceuticals, Inc. in December 2002. Spectrum Pharmaceuticals, Inc. was incorporated in 1987 and is based in Boston, Massachusetts.