The stock of Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) is a huge mover today! About 335,050 shares traded hands. Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) has declined 9.78% since March 9, 2016 and is downtrending. It has underperformed by 17.19% the S&P500.
The move comes after 8 months negative chart setup for the $333.65 million company. It was reported on Oct, 12 by Barchart.com. We have $3.84 PT which if reached, will make NASDAQ:SPPI worth $36.70M less.
Analysts await Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) to report earnings on November, 2. They expect $-0.32 EPS, down 100.00% or $0.16 from last year’s $-0.16 per share. After $-0.10 actual EPS reported by Spectrum Pharmaceuticals, Inc. for the previous quarter, Wall Street now forecasts 220.00% negative EPS growth.
According to Zacks Investment Research, “Spectrum Pharmaceuticals, Inc. is opportunistically acquiring and advancing a diversified portfolio of oncology drug candidates that meet critical health challenges for which there are few other treatment options. Spectrum’s expertise lies in identifying undervalued drugs with demonstrated safety and efficacy, and adding value through further clinical development and selection of the most viable and low-risk methods of commercialization. The company’s pipeline includes promising early and late-stage drug candidates with unique formulations and mechanisms of action that address the needs of seriously ill patients, such as at-home chemotherapy and new treatment regimens for refractory disease.”
Insitutional Activity: The institutional sentiment increased to 3.84 in 2016 Q2. Its up 2.68, from 1.16 in 2016Q1. The ratio improved, as 7 funds sold all Spectrum Pharmaceuticals, Inc. shares owned while 18 reduced positions. 34 funds bought stakes while 62 increased positions. They now own 106.93 million shares or 131.39% more from 46.21 million shares in 2016Q1.
Profund Advisors Ltd last reported 16,381 shares in the company. Manufacturers Life Ins Co The owns 47,402 shares or 0% of their US portfolio. The New Jersey-based Prudential Inc has invested 0% in Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI). Moreover, Eagle Glob Advsr Limited Liability Company has 0.01% invested in Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) for 27,180 shares. Blackrock has invested 0% of its portfolio in Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI). Jacobs Levy Equity Mgmt last reported 237,901 shares in the company. The Massachusetts-based Grt Prtnrs Ltd Liability has invested 0.03% in Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI). Pub Employees Retirement Association Of Colorado reported 31,800 shares or 0% of all its holdings. D E Shaw And holds 0.03% or 2.11 million shares in its portfolio. Clear Harbor Asset Management has invested 0.01% of its portfolio in Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI). The Switzerland-based Credit Suisse Ag has invested 0% in Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI). Blackrock Investment Ltd has 0% invested in the company for 301,576 shares. Nationwide Fund Advisors has invested 0% of its portfolio in Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI). Kcg, a New Jersey-based fund reported 64,368 shares. Ladenburg Thalmann Services Incorporated last reported 9,364 shares in the company.
More notable recent Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) news were published by: Businesswire.com which released: “SPPI LOSS NOTICE: Rosen Law Firm Reminds Spectrum Pharmaceuticals, Inc …” on October 11, 2016, also Globenewswire.com with their article: “SHAREHOLDER ALERT: Levi & Korsinsky, LLP Notifies Shareholders of Spectrum …” published on October 07, 2016, Prnewswire.com published: “SECURITIES NOTICE: Rosen Law Firm Reminds Spectrum Pharmaceuticals, Inc …” on September 30, 2016. More interesting news about Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) were released by: Prnewswire.com and their article: “SPECTRUM PHARMACEUTICALS NOTIFICATION: Faruqi & Faruqi, LLP Encourages …” published on September 20, 2016 as well as Prnewswire.com‘s news article titled: “Block & Leviton LLP Investigates Spectrum Pharmaceuticals After Revelation …” with publication date: September 16, 2016.
SPPI Company Profile
Spectrum Pharmaceuticals, Inc., incorporated on November, 18, 2002, is a biotechnology company. The Firm operates through developing and commercializing oncology and hematology drug products segment. The Firm has approximately six approved oncology/hematology products that target different types of non-Hodgkin’s lymphoma (NHL), metastatic colorectal cancer, acute lymphoblastic leukemia (ALL) and multiple myeloma (MM). It also has two drugs in late-stage development: SPI-2012, which is being developed for chemotherapy-induced neutropenia in patients with breast cancer, and EOQUIN, which is being developed for immediate intravesical instillation post-transurethral resection of bladder tumors in patients with non-muscle invasive bladder cancer. It has a product portfolio consisting of both commercial-stage and development-stage products that address various cancer types. The Company’s commercialized products include FUSILEV, FOLOTYN, ZEVALIN, MARQIBO, BELEODAQ and EVOMELA. The Company’s other products include SPI-2012, POZIOTINIB and EOQUIN.
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