A Director at Spectrum Pharmaceuticals (SPPI) is Buying Shares


Today, a Director at Spectrum Pharmaceuticals (NASDAQ: SPPI), Luigi Lenaz, bought shares of SPPI for $58.8K.

Following this transaction Luigi Lenaz’s holding in the company was increased by 57.91% to a total of $2.12 million. Following Luigi Lenaz’s last SPPI Buy transaction on February 11, 2009, the stock climbed by 17.9%.

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Based on Spectrum Pharmaceuticals’ latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $30.5 million and GAAP net loss of $15.82 million. In comparison, last year the company earned revenue of $29.1 million and had a GAAP net loss of $22.97 million. Currently, Spectrum Pharmaceuticals has an average volume of 1.05M.

Starting in November 2016, SPPI received 42 Buy ratings in a row. Six different firms, including B.Riley FBR and Guggenheim, currently also have a Buy rating on the stock.

In the last 30 days, insiders have sold $569.8K worth of SPPI shares and purchased $587.8K worth of SPPI shares. The insider sentiment on Spectrum Pharmaceuticals has been neutral according to 60 insider trades in the past three months. This sentiment is slightly lower than the average sentiment of company insiders in this sector.

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Spectrum Pharmaceuticals, Inc. engages in the acquisition, development, and commercialization of pipeline of late-stage clinical and commercial products. It targets non-Hodgkin’s lymphoma, advanced metastatic colorectal cancer, acute lymphoblastic leukemia, and multiple myeloma.

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