Keith M. Mcgahan Sells 15,733 Shares of Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) Stock

Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI – Get Rating) insider Keith M. Mcgahan sold 15,733 shares of the stock in a transaction dated Tuesday, March 14th. The stock was sold at an average price of $0.82, for a total value of $12,901.06. Following the transaction, the insider now directly owns 216,522 shares in the company, valued at approximately $177,548.04. The transaction was disclosed in a filing with the SEC, which is available at this link.

Spectrum Pharmaceuticals Stock Performance

Shares of Spectrum Pharmaceuticals stock remained flat at $0.82 on Friday. The stock had a trading volume of 752,804 shares, compared to its average volume of 1,914,038. The stock’s fifty day moving average is $0.75 and its 200 day moving average is $0.62. The company has a market capitalization of $153.95 million, a P/E ratio of -1.28 and a beta of 2.26. Spectrum Pharmaceuticals, Inc. has a 1-year low of $0.32 and a 1-year high of $1.57.

Analyst Ratings Changes

Several brokerages have recently issued reports on SPPI. StockNews.com started coverage on shares of Spectrum Pharmaceuticals in a research report on Thursday. They set a “hold” rating on the stock. HC Wainwright reiterated a “buy” rating and set a $4.00 target price on shares of Spectrum Pharmaceuticals in a report on Tuesday, January 31st. JMP Securities reissued a “market outperform” rating and issued a $4.00 price target on shares of Spectrum Pharmaceuticals in a research report on Wednesday, February 1st. Finally, Cantor Fitzgerald cut their price objective on Spectrum Pharmaceuticals from $3.00 to $0.75 and set a “neutral” rating on the stock in a research report on Friday, February 3rd. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $2.44.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA raised its holdings in shares of Spectrum Pharmaceuticals by 108.3% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 31,652 shares of the biotechnology company’s stock valued at $25,000 after purchasing an additional 16,460 shares in the last quarter. Mirabella Financial Services LLP purchased a new position in Spectrum Pharmaceuticals in the first quarter valued at $27,000. Advisor Group Holdings Inc. raised its stake in Spectrum Pharmaceuticals by 121.1% in the fourth quarter. Advisor Group Holdings Inc. now owns 91,972 shares of the biotechnology company’s stock valued at $34,000 after buying an additional 50,376 shares in the last quarter. Laurion Capital Management LP acquired a new stake in Spectrum Pharmaceuticals in the second quarter valued at $47,000. Finally, Virtu Financial LLC purchased a new stake in Spectrum Pharmaceuticals during the 2nd quarter worth about $48,000. Institutional investors and hedge funds own 27.95% of the company’s stock.

About Spectrum Pharmaceuticals

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Spectrum Pharmaceuticals, Inc is a biotechnology company, which engages in the acquisition, development and commercialization of a pipeline of novel and targeted oncology therapies. Its product pipeline includes: Eflapegrastim, Poziotinib, and IGN002. The company was founded in December 1987 and is headquartered in Henderson, NV.