H.C. Wainwright Sticks to Their Buy Rating for Spectrum Pharmaceuticals (SPPI)


H.C. Wainwright analyst Edward White maintained a Buy rating on Spectrum Pharmaceuticals (SPPI) today and set a price target of $40. The company’s shares closed yesterday at $10.44, close to its 52-week low of $10.32.

White wrote:

“Our $40 price target is derived from a sum-of-the-parts analysis based on the P/E value of Spectrum’s current commercial business, plus an NPV of its proprietary pipeline. We value the current commercial business at $1.48 per share, the pipeline at $12.19 per share, and YE18 estimated fully diluted net cash of $1.49 per share.”

According to TipRanks.com, White is a 5-star analyst with an average return of 11.8% and a 42.5% success rate. White covers the Healthcare sector, focusing on stocks such as Syndax Pharmaceuticals Inc, Synthetic Biologics Inc, and Karyopharm Therapeutics.

Spectrum Pharmaceuticals has an analyst consensus of Moderate Buy, with a price target consensus of $34.50.

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Based on Spectrum Pharmaceuticals’ latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $68.72 million. In comparison, last year the company had a GAAP net loss of $18.71 million.

Based on the recent corporate insider activity of 54 insiders, corporate insider sentiment is neutral on the stock.

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Spectrum Pharmaceuticals, Inc. is a biotechnology company, which engages in the acquisition, development, and commercialization of pipeline of late-stage clinical and commercial products. It operates through the following brands: FOLOTYN, ZEVALIN, MARQIBO, BELEODAQ, and EVOMELA. The company was founded in December 1987 and is headquartered in Henderson, NV.

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