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 dated Friday, April 20th. The stock was sold at an average price of $18.67, for a total value of $560,100.00. Following the transaction, the director now directly owns 200,652 shares of the company’s stock, valued at approximately $3,746,172.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

SPPI traded down $0.21 on Monday, hitting $18.26. 1,264,067 shares of the stock traded hands, compared to its average volume of 1,451,170. Spectrum Pharmaceuticals has a 52 week low of $5.47 and a 52 week high of $23.50. The firm has a market capitalization of $1,897.14, a price-to-earnings ratio of -17.07 and a beta of 1.98.

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Spectrum Pharmaceuticals (NASDAQ:SPPI) last issued its quarterly earnings results on Tuesday, March 6th. The biotechnology company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.04). Spectrum Pharmaceuticals had a negative net margin of 70.66% and a negative return on equity of 30.68%. The firm had revenue of $28.57 million for the quarter, compared to the consensus estimate of $33.18 million. During the same quarter in the prior year, the firm earned ($0.10) earnings per share. The company’s revenue was down 18.9% on a year-over-year basis. equities research analysts expect that Spectrum Pharmaceuticals will post -1.03 earnings per share for the current fiscal year.



A number of institutional investors and hedge funds have recently modified their holdings of SPPI. Ameriprise Financial Inc. increased its stake in Spectrum Pharmaceuticals by 5.3% during the third quarter. Ameriprise Financial Inc. now owns 396,331 shares of the biotechnology company’s stock valued at $5,576,000 after acquiring an additional 20,056 shares during the period. Legal & General Group Plc increased its stake in Spectrum Pharmaceuticals by 5.5% during the third quarter. Legal & General Group Plc now owns 138,951 shares of the biotechnology company’s stock valued at $1,951,000 after acquiring an additional 7,212 shares during the period. JPMorgan Chase & Co. increased its stake in Spectrum Pharmaceuticals by 2,435.6% during the third quarter. JPMorgan Chase & Co. now owns 52,741 shares of the biotechnology company’s stock valued at $712,000 after acquiring an additional 50,661 shares during the period. Wells Fargo & Company MN increased its stake in Spectrum Pharmaceuticals by 23.5% during the third quarter. Wells Fargo & Company MN now owns 949,290 shares of the biotechnology company’s stock valued at $13,357,000 after acquiring an additional 180,632 shares during the period. Finally, Schwab Charles Investment Management Inc. increased its stake in Spectrum Pharmaceuticals by 16.2% during the third quarter. Schwab Charles Investment Management Inc. now owns 505,909 shares of the biotechnology company’s stock valued at $7,119,000 after acquiring an additional 70,487 shares during the period. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Several equities analysts recently weighed in on the company. Zacks Investment Research raised Spectrum Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, January 12th. HC Wainwright boosted their price objective on Spectrum Pharmaceuticals to $33.00 and gave the stock a “buy” rating in a research report on Monday, February 5th. BidaskClub cut Spectrum Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 3rd. ValuEngine raised Spectrum Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Finally, TheStreet cut Spectrum Pharmaceuticals from a “c-” rating to a “d+” rating in a research report on Friday, March 16th. Two research analysts have rated the stock with a sell rating and five have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price 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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