American International Group Inc. cut its stake in shares of Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) by 5.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 46,648 shares of the biotechnology company’s stock after selling 2,861 shares during the period. American International Group Inc. owned 0.06% of Spectrum Pharmaceuticals worth $303,000 as of its most recent filing with the SEC.
Several other institutional investors also recently made changes to their positions in SPPI. Great West Life Assurance Co. Can boosted its position in shares of Spectrum Pharmaceuticals by 6.6% in the first quarter. Great West Life Assurance Co. Can now owns 93,232 shares of the biotechnology company’s stock valued at $605,000 after buying an additional 5,755 shares during the last quarter. Wells Fargo & Company MN boosted its position in shares of Spectrum Pharmaceuticals by 3.3% in the first quarter. Wells Fargo & Company MN now owns 614,610 shares of the biotechnology company’s stock valued at $3,996,000 after buying an additional 19,461 shares during the last quarter. Russell Investments Group Ltd. boosted its position in shares of Spectrum Pharmaceuticals by 228.2% in the first quarter. Russell Investments Group Ltd. now owns 144,894 shares of the biotechnology company’s stock valued at $942,000 after buying an additional 100,745 shares during the last quarter. Hartford Investment Management Co. boosted its position in shares of Spectrum Pharmaceuticals by 149.0% in the first quarter. Hartford Investment Management Co. now owns 60,500 shares of the biotechnology company’s stock valued at $393,000 after buying an additional 36,200 shares during the last quarter. Finally, Louisiana State Employees Retirement System boosted its position in shares of Spectrum Pharmaceuticals by 2.8% in the first quarter. Louisiana State Employees Retirement System now owns 28,900 shares of the biotechnology company’s stock valued at $188,000 after buying an additional 800 shares during the last quarter. Institutional investors own 67.34% of the company’s stock.
Spectrum Pharmaceuticals, Inc. (NASDAQ SPPI) opened at 8.12 on Friday. The company’s market cap is $637.61 million. The company’s 50-day moving average price is $7.03 and its 200-day moving average price is $6.20. Spectrum Pharmaceuticals, Inc. has a 12-month low of $3.21 and a 12-month high of $8.21.
Spectrum Pharmaceuticals (NASDAQ:SPPI) last posted its quarterly earnings data on Tuesday, May 2nd. The biotechnology company reported ($0.18) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.20) by $0.02. The firm had revenue of $29.10 million for the quarter, compared to analysts’ expectations of $32.23 million. Spectrum Pharmaceuticals had a negative net margin of 62.39% and a negative return on equity of 24.06%. Equities analysts anticipate that Spectrum Pharmaceuticals, Inc. will post ($1.09) earnings per share for the current year.
Several brokerages have recently weighed in on SPPI. Zacks Investment Research upgraded Spectrum Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Wednesday, July 5th. Jefferies Group LLC lifted their price target on Spectrum Pharmaceuticals from $8.50 to $9.00 and gave the stock a “buy” rating in a report on Wednesday, May 3rd. FBR & Co reiterated a “buy” rating on shares of Spectrum Pharmaceuticals in a report on Saturday, April 1st. HC Wainwright set a $10.00 price target on Spectrum Pharmaceuticals and gave the stock a “buy” rating in a report on Saturday, May 6th. Finally, ValuEngine upgraded Spectrum Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Thursday, May 11th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. Spectrum Pharmaceuticals presently has an average rating of “Buy” and an average price target of $8.90.
Spectrum Pharmaceuticals Company 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).
Want to see what other hedge funds are holding SPPI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI).
Receive News & Ratings for Spectrum Pharmaceuticals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spectrum Pharmaceuticals Inc. and related companies with MarketBeat.com's FREE daily email newsletter.
