Analysts expect Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI - Get Rating) to report ($0.18) earnings per share (EPS) for the current fiscal quarter, Zacks reports. Zero analysts have provided estimates for Spectrum Pharmaceuticals' earnings, with estimates ranging from ($0.19) to ($0.18). Spectrum Pharmaceuticals posted earnings per share of ($0.25) in the same quarter last year, which indicates a positive year-over-year growth rate of 28%. The company is scheduled to report its next quarterly earnings report after the market closes on Monday, January 1st.
According to Zacks, analysts expect that Spectrum Pharmaceuticals will report full year earnings of ($0.62) per share for the current financial year, with EPS estimates ranging from ($0.74) to ($0.50). For the next fiscal year, analysts forecast that the business will post earnings of ($0.11) per share, with EPS estimates ranging from ($0.28) to $0.02. Zacks Investment Research's earnings per share averages are a mean average based on a survey of sell-side analysts that that provide coverage for Spectrum Pharmaceuticals.
Spectrum Pharmaceuticals (NASDAQ:SPPI - Get Rating) last issued its quarterly earnings results on Thursday, March 17th. The biotechnology company reported ($0.26) earnings per share for the quarter, missing analysts' consensus estimates of ($0.21) by ($0.05). During the same quarter last year, the firm posted ($0.36) earnings per share.
A number of research firms have recently weighed in on SPPI. Cantor Fitzgerald reaffirmed a "neutral" rating on shares of Spectrum Pharmaceuticals in a research note on Friday, April 1st. Zacks Investment Research downgraded shares of Spectrum Pharmaceuticals from a "hold" rating to a "sell" rating in a report on Thursday, March 24th. B. Riley lowered their target price on Spectrum Pharmaceuticals from $6.00 to $4.00 and set a "buy" rating on the stock in a report on Monday, March 21st. JMP Securities reiterated a "buy" rating and set a $4.00 price target on shares of Spectrum Pharmaceuticals in a report on Wednesday, April 13th. Finally, StockNews.com started coverage on Spectrum Pharmaceuticals in a report on Thursday, March 31st. They set a "sell" rating on the stock. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $3.42.
SPPI stock traded up $0.02 during midday trading on Friday, reaching $0.77. The company had a trading volume of 107,124 shares, compared to its average volume of 1,864,428. The company has a 50 day moving average of $0.99 and a two-hundred day moving average of $1.21. The company has a market capitalization of $137.03 million, a P/E ratio of -0.74 and a beta of 2.23. Spectrum Pharmaceuticals has a 1 year low of $0.60 and a 1 year high of $4.54.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Royal Bank of Canada increased its holdings in Spectrum Pharmaceuticals by 76.4% in the 2nd quarter. Royal Bank of Canada now owns 10,592 shares of the biotechnology company's stock worth $40,000 after purchasing an additional 4,587 shares in the last quarter. Millennium Management LLC bought a new position in shares of Spectrum Pharmaceuticals in the 2nd quarter worth about $180,000. Morgan Stanley raised its position in shares of Spectrum Pharmaceuticals by 105.5% in the 2nd quarter. Morgan Stanley now owns 2,510,343 shares of the biotechnology company's stock worth $9,413,000 after acquiring an additional 1,289,003 shares in the last quarter. SG Americas Securities LLC lifted its stake in shares of Spectrum Pharmaceuticals by 1,382.7% in the 3rd quarter. SG Americas Securities LLC now owns 166,754 shares of the biotechnology company's stock valued at $364,000 after purchasing an additional 155,507 shares during the period. Finally, Moors & Cabot Inc. bought a new stake in shares of Spectrum Pharmaceuticals during the 3rd quarter valued at about $26,000. 58.51% of the stock is currently owned by hedge funds and other institutional investors.
About Spectrum Pharmaceuticals (Get Rating)
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.
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