In a report released today, Mayank Mamtani from B.Riley Financial reiterated a Buy rating on Spectrum Pharmaceuticals (SPPI), with a price target of $8.00. The company’s shares closed last Thursday at $3.58.
According to TipRanks.com, Mamtani is a 5-star analyst with an average return of 23.6% and a 51.0% success rate. Mamtani covers the Healthcare sector, focusing on stocks such as Arrowhead Pharmaceuticals, Madrigal Pharmaceuticals, and NGM Biopharmaceuticals.
Spectrum Pharmaceuticals has an analyst consensus of Strong Buy, with a price target consensus of $11.75, a 233.8% upside from current levels. In a report released yesterday, H.C. Wainwright also maintained a Buy rating on the stock with a $12.00 price target.
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Based on Spectrum Pharmaceuticals’ latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $32.09 million. In comparison, last year the company had a GAAP net loss of $28.4 million.
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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.
