Spectrum Pharmaceuticals (SPPI) Receives a Buy from H.C. Wainwright


H.C. Wainwright analyst Edward White reiterated a Buy rating on Spectrum Pharmaceuticals (SPPI) on September 18 and set a price target of $13.00. The company’s shares closed last Friday at $4.90.

According to TipRanks.com, White is a 5-star analyst with an average return of 28.8% and a 52.6% success rate. White covers the Healthcare sector, focusing on stocks such as Karyopharm Therapeutics, TRACON Pharmaceuticals, and Aeglea Biotherapeutics.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Spectrum Pharmaceuticals with a $11.00 average price target, implying a 131.6% upside from current levels. In a report issued on September 17, JMP Securities also initiated coverage with a Buy rating on the stock with a $12.00 price target.

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The company has a one-year high of $10.57 and a one-year low of $1.74. Currently, Spectrum Pharmaceuticals has an average volume of 2.82M.

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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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