Spectrum Pharmaceuticals (SPPI) Director Rajesh C. Md Shrotriya Sells 30,000 Shares

Spectrum Pharmaceuticals (NASDAQ:SPPI) Director Rajesh C. Md Shrotriya sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, April 13th. The shares were sold at an average price of $19.93, for a total value of $597,900.00. Following the completion of the transaction, the director now owns 200,652 shares of the company’s stock, valued at $3,998,994.36. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

NASDAQ:SPPI opened at $19.22 on Monday. Spectrum Pharmaceuticals has a twelve month low of $5.47 and a twelve month high of $23.50. The company has a market cap of $2,104.62, a price-to-earnings ratio of -17.96 and a beta of 1.98.

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Spectrum Pharmaceuticals (NASDAQ:SPPI) last released its quarterly earnings results on Tuesday, March 6th. The biotechnology company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.04). Spectrum Pharmaceuticals had a negative return on equity of 30.68% and a negative net margin of 70.66%. The firm had revenue of $28.57 million for the quarter, compared to analyst estimates of $33.18 million. During the same period last year, the company earned ($0.10) EPS. The company’s revenue was down 18.9% compared to the same quarter last year. sell-side analysts expect that Spectrum Pharmaceuticals will post -1.14 earnings per share for the current year.

A number of large investors have recently added to or reduced their stakes in the business. Ashford Capital Management Inc. acquired a new position in Spectrum Pharmaceuticals during the 4th quarter worth approximately $6,872,000. MetLife Investment Advisors LLC acquired a new position in Spectrum Pharmaceuticals during the 4th quarter worth approximately $770,000. Municipal Employees Retirement System of Michigan boosted its position in Spectrum Pharmaceuticals by 19.7% during the 4th quarter. Municipal Employees Retirement System of Michigan now owns 34,270 shares of the biotechnology company’s stock worth $649,000 after acquiring an additional 5,650 shares during the last quarter. Kazazian Asset Management LLC acquired a new position in Spectrum Pharmaceuticals during the 4th quarter worth approximately $616,000. Finally, Flinton Capital Management LLC boosted its position in Spectrum Pharmaceuticals by 111.0% during the 4th quarter. Flinton Capital Management LLC now owns 7,088 shares of the biotechnology company’s stock worth $134,000 after acquiring an additional 3,728 shares during the last quarter. 77.32% of the stock is owned by hedge funds and other institutional investors.

Several equities analysts recently issued reports on the company. BidaskClub lowered Spectrum Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Wednesday, April 4th. ValuEngine upgraded Spectrum Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. TheStreet lowered Spectrum Pharmaceuticals from a “c-” rating to a “d+” rating in a research report on Friday, March 16th. HC Wainwright boosted their price objective on Spectrum Pharmaceuticals to $33.00 and gave the company a “buy” rating in a research report on Monday, February 5th. Finally, Zacks Investment Research upgraded Spectrum Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, January 12th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. Spectrum Pharmaceuticals has an average rating of “Buy” and a consensus price target of $25.20.

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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.

Insider Buying and Selling by Quarter for Spectrum Pharmaceuticals (NASDAQ:SPPI)

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