Spectrum Pharmaceuticals (SPPI) Receives a Buy from Cantor Fitzgerald


In a report released today, Alethia Young from Cantor Fitzgerald maintained a Buy rating on Spectrum Pharmaceuticals (SPPI), with a price target of $17. The company’s shares opened today at $9.44.

Young observed:

“We think exon 20 mutation market in NSCLC and other tumors remains an unmet need where TKI therapies typically don’t work. Based on prior studies with poziotinib, we think that the company will demonstrate sufficient efficacy in their pivotal study for accelerated approval. We estimate risk-adjusted 2026 total peak sales (5 years post launch) of ~$700M for poziotinib. We think that the current stock price underappreciates the potential opportunity in exon 20 oncology mutations. We think Rolontis will likely be approved in 2020 and can conservatively generate adj. 2026 peak sales of $270M.”

According to TipRanks.com, Young is a 4-star analyst with an average return of 6.8% and a 45.9% success rate. Young covers the Healthcare sector, focusing on stocks such as BioMarin Pharmaceutical Inc., Vertex Pharmaceuticals, and Sarepta Therapeutics.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Spectrum Pharmaceuticals with a $26.67 average price target.

See today’s analyst top recommended stocks >>

Based on Spectrum Pharmaceuticals’ latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $49.22 million. In comparison, last year the company had a GAAP net loss of $15.82 million.

Based on the recent corporate insider activity of 61 insiders, corporate insider sentiment is neutral on the stock.

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. 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.

Stay Ahead of Everyone Else

Get The Latest Stock News Alerts