Spectrum Pharmaceuticals (SPPI) CFO Sells $71,122.50 in Stock

Spectrum Pharmaceuticals (NASDAQ:SPPI) CFO Kurt A. Gustafson sold 4,350 shares of Spectrum Pharmaceuticals stock in a transaction on Wednesday, March 28th. The shares were sold at an average price of $16.35, for a total transaction of $71,122.50. Following the transaction, the chief financial officer now owns 187,193 shares in the company, valued at approximately $3,060,605.55. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

NASDAQ:SPPI opened at $16.09 on Friday. Spectrum Pharmaceuticals has a fifty-two week low of $5.47 and a fifty-two week high of $23.50.

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

A number of research analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Spectrum Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Friday, January 12th. B. Riley assumed coverage on shares of Spectrum Pharmaceuticals in a research note on Monday, December 18th. They set a “buy” rating and a $26.00 target price on the stock. HC Wainwright lifted their target price on shares of Spectrum Pharmaceuticals to $33.00 and gave the company a “buy” rating in a research note on Monday, February 5th. BidaskClub cut shares of Spectrum Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 3rd. Finally, TheStreet cut shares of Spectrum Pharmaceuticals from a “c-” rating to a “d+” rating in a research note on Friday, March 16th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Spectrum Pharmaceuticals currently has an average rating of “Buy” and an average price target of $25.20.

A number of hedge funds have recently made changes to their positions in the business. State of Alaska Department of Revenue lifted its stake in Spectrum Pharmaceuticals by 22.5% in the 4th quarter. State of Alaska Department of Revenue now owns 18,078 shares of the biotechnology company’s stock worth $342,000 after purchasing an additional 3,320 shares in the last quarter. Flinton Capital Management LLC lifted its stake in Spectrum Pharmaceuticals by 111.0% in the 4th quarter. Flinton Capital Management LLC now owns 7,088 shares of the biotechnology company’s stock worth $134,000 after purchasing an additional 3,728 shares in the last quarter. American International Group Inc. lifted its stake in Spectrum Pharmaceuticals by 7.0% in the 3rd quarter. American International Group Inc. now owns 61,452 shares of the biotechnology company’s stock worth $865,000 after purchasing an additional 4,046 shares in the last quarter. Meadow Creek Investment Management LLC lifted its stake in Spectrum Pharmaceuticals by 111.0% in the 4th quarter. Meadow Creek Investment Management LLC now owns 9,746 shares of the biotechnology company’s stock worth $185,000 after purchasing an additional 5,126 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan lifted its stake in Spectrum Pharmaceuticals by 19.7% in the 4th quarter. Municipal Employees Retirement System of Michigan now owns 34,270 shares of the biotechnology company’s stock worth $649,000 after purchasing an additional 5,650 shares in the last quarter. Institutional investors and hedge funds own 77.32% of the company’s stock.

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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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