Spectrum Pharmaceuticals, Inc. (SPPI) Shares Bought by SG Americas Securities LLC

SG Americas Securities LLC raised its holdings in shares of Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) by 153.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 45,871 shares of the biotechnology company’s stock after buying an additional 27,763 shares during the period. SG Americas Securities LLC’s holdings in Spectrum Pharmaceuticals were worth $645,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. TIAA CREF Investment Management LLC increased its stake in shares of Spectrum Pharmaceuticals by 21.6% in the first quarter. TIAA CREF Investment Management LLC now owns 254,267 shares of the biotechnology company’s stock worth $1,653,000 after buying an additional 45,108 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Spectrum Pharmaceuticals by 13.8% in the first quarter. Vanguard Group Inc. now owns 7,208,723 shares of the biotechnology company’s stock worth $46,858,000 after buying an additional 874,871 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Spectrum Pharmaceuticals by 6.0% in the first quarter. Geode Capital Management LLC now owns 545,118 shares of the biotechnology company’s stock worth $3,543,000 after buying an additional 30,649 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Spectrum Pharmaceuticals by 12.2% in the first quarter. Dimensional Fund Advisors LP now owns 2,211,245 shares of the biotechnology company’s stock worth $14,373,000 after buying an additional 240,614 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in shares of Spectrum Pharmaceuticals by 52.3% in the first quarter. Bank of America Corp DE now owns 231,750 shares of the biotechnology company’s stock worth $1,507,000 after buying an additional 79,619 shares during the last quarter. 71.88% of the stock is currently owned by hedge funds and other institutional investors.

Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) traded up $0.38 during trading on Friday, hitting $19.04. 3,509,865 shares of the stock traded hands, compared to its average volume of 792,100. Spectrum Pharmaceuticals, Inc. has a fifty-two week low of $4.21 and a fifty-two week high of $21.95. The company has a debt-to-equity ratio of 0.33, a current ratio of 5.04 and a quick ratio of 4.89.

Spectrum Pharmaceuticals (NASDAQ:SPPI) last posted its quarterly earnings data on Thursday, November 2nd. The biotechnology company reported ($0.22) earnings per share for the quarter, missing the 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 return on equity of 29.73% and a negative net margin of 58.94%. The business’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.07) EPS. equities research analysts predict that Spectrum Pharmaceuticals, Inc. will post -1.03 EPS for the current year.

SPPI has been the subject of a number of research analyst reports. Jefferies Group lifted their price target on shares of Spectrum Pharmaceuticals from $9.00 to $13.00 and gave the stock a “buy” rating in a research note on Monday, September 25th. HC Wainwright reiterated a “buy” rating and set a $14.00 target price on shares of Spectrum Pharmaceuticals in a research note on Thursday, September 14th. Guggenheim assumed coverage on shares of Spectrum Pharmaceuticals in a research note on Monday, October 23rd. They set a “buy” rating and a $32.00 target price for the company. Finally, Zacks Investment Research lowered shares of Spectrum Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Wednesday, October 4th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company’s stock. Spectrum Pharmaceuticals presently has a consensus rating of “Buy” and a consensus price target of $21.40.

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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).

Institutional Ownership by Quarter for Spectrum Pharmaceuticals (NASDAQ:SPPI)

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