Ballentine Partners LLC grew its stake in Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) by 20.0% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 30,000 shares of the biotechnology company’s stock after buying an additional 5,000 shares during the quarter. Ballentine Partners LLC’s holdings in Spectrum Pharmaceuticals were worth $422,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently made changes to their positions in SPPI. Fisher Asset Management LLC acquired a new stake in shares of Spectrum Pharmaceuticals during the 3rd quarter worth about $2,521,000. Principal Financial Group Inc. raised its position in shares of Spectrum Pharmaceuticals by 4.6% during the 1st quarter. Principal Financial Group Inc. now owns 553,451 shares of the biotechnology company’s stock worth $3,598,000 after acquiring an additional 24,245 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of Spectrum Pharmaceuticals by 25.1% during the 2nd quarter. Wells Fargo & Company MN now owns 768,658 shares of the biotechnology company’s stock worth $5,727,000 after acquiring an additional 154,048 shares in the last quarter. Thrivent Financial For Lutherans raised its position in shares of Spectrum Pharmaceuticals by 8.5% during the 1st quarter. Thrivent Financial For Lutherans now owns 40,790 shares of the biotechnology company’s stock worth $265,000 after acquiring an additional 3,190 shares in the last quarter. Finally, Macquarie Group Ltd. raised its position in shares of Spectrum Pharmaceuticals by 9.4% during the 2nd quarter. Macquarie Group Ltd. now owns 2,247,493 shares of the biotechnology company’s stock worth $16,744,000 after acquiring an additional 193,883 shares in the last quarter. Institutional investors and hedge funds own 66.49% of the company’s stock.
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Spectrum Pharmaceuticals, Inc. (SPPI) traded down $0.22 during trading hours on Friday, hitting $18.33. The stock had a trading volume of 895,500 shares, compared to its average volume of 2,634,662. The company has a current ratio of 5.04, a quick ratio of 4.89 and a debt-to-equity ratio of 0.33. Spectrum Pharmaceuticals, Inc. has a 1-year low of $3.85 and a 1-year high of $21.95.
Spectrum Pharmaceuticals (NASDAQ:SPPI) last released its earnings results on Thursday, November 2nd. The biotechnology company reported ($0.22) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.16) by ($0.06). The company had revenue of $36.40 million during the quarter, compared to analyst estimates of $33.27 million. Spectrum Pharmaceuticals had a negative net margin of 51.41% and a negative return on equity of 29.81%. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.07) EPS. equities analysts predict that Spectrum Pharmaceuticals, Inc. will post -1.03 earnings per share for the current year.
Several brokerages have recently weighed in on SPPI. HC Wainwright reissued a “buy” rating on shares of Spectrum Pharmaceuticals in a research report on Friday, November 3rd. Guggenheim assumed coverage on Spectrum Pharmaceuticals in a research report on Monday, October 23rd. They set a “buy” rating and a $32.00 price target on the stock. Jefferies Group LLC lifted their price target on Spectrum Pharmaceuticals to $25.00 and gave the stock a “buy” rating in a research report on Friday, October 20th. Zacks Investment Research lowered Spectrum Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Wednesday, October 4th. Finally, ValuEngine raised Spectrum Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Thursday, August 17th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the stock. Spectrum Pharmaceuticals currently has an average rating of “Buy” and an average price target of $21.40.
Spectrum Pharmaceuticals 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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