In a report released today, Edward White from H.C. Wainwright maintained a Buy rating on Spectrum Pharmaceuticals (SPPI), with a price target of $42. The company’s shares closed yesterday at $10.28.
“We are lowering our price target to $41 from $42, as we have pushed back our Rolontis launch assumption by six months. Our $41 price target is based on a sum-of-the-parts analysis based on probability adjusted revenue forecasts for poziotinib and Rolontis.”
According to TipRanks.com, White is a 5-star analyst with an average return of 13.0% and a 47.4% success rate. White covers the Healthcare sector, focusing on stocks such as Syndax Pharmaceuticals Inc, Aileron Therapeutics Inc, and Synthetic Biologics Inc.
Spectrum Pharmaceuticals has an analyst consensus of Strong Buy, with a price target consensus of $27.33, a 165.9% upside from current levels. In a report issued on February 28, Cantor Fitzgerald also reiterated a Buy rating on the stock with a $19 price target.
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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 $28.56 million.
Based on the recent corporate insider activity of 66 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.