Spectrum Pharmaceuticals Gets a Buy Rating from H.C. Wainwright


In a report released today, Edward White from H.C. Wainwright reiterated a Buy rating on Spectrum Pharmaceuticals (NASDAQ: SPPI), with a price target of $33. The company’s shares closed yesterday at $15.82.

According to TipRanks.com, White is a 5-star analyst with an average return of 24.4% and a 51.5% success rate. White covers the Healthcare sector, focusing on stocks such as Karyopharm Therapeutics, Mirati Therapeutics, and Fate Therapeutics.

Spectrum Pharmaceuticals has an analyst consensus of Moderate Buy, with a price target consensus of $29.50.

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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.

Based on the recent corporate insider activity of 51 insiders, corporate insider sentiment is neutral on the stock. Most recently, in March 2018, Rajesh C. Shrotriya, a Director at SPPI bought 500,000 shares for a total of $1,275,000.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.

Read More on SPPI:

Spectrum Pharmaceuticals’ (SPPI) Encouraging Clinical Update in NSCLC Gets the Bulls in a Buying Frenzy

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