Stock On Watch: Spectrum Pharmaceuticals, Inc. Can’t Be More Risky. Just Reaches 52-Week Low

Stock On Watch: Spectrum Pharmaceuticals, Inc. Can't Be More Risky. Just Reaches 52 Week Low

The stock of Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) hit a new 52-week low and has $3.47 target or 14.00% below today’s $4.03 share price. The 9 months bearish chart indicates high risk for the $301.16 million company. The 1-year low was reported on Oct, 17 by Barchart.com. If the $3.47 price target is reached, the company will be worth $42.16M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 528,368 shares traded hands. Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) has declined 32.48% since March 14, 2016 and is downtrending. It has underperformed by 38.09% the S&P500.

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 Q2 2016. Its up 2.68, from 1.16 in 2016Q1. The ratio increased, 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.
Denver Inv Advisors Lc holds 0% or 16,785 shares in its portfolio. Pinebridge Lp holds 0% of its portfolio in Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) for 7,726 shares. The Massachusetts-based Rhumbline Advisers has invested 0% in Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI). Proshare Ltd Limited Liability Company accumulated 61,073 shares or 0.01% of the stock. Moreover, Aperio Gp Limited Liability Co has 0% invested in Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) for 27,149 shares. Gotham Asset Management Lc, a New York-based fund reported 39,070 shares. Sei Invs accumulated 0% or 37 shares. Tower Ltd Llc (Trc) accumulated 0% or 1,300 shares. Nine Chapters Cap Management Limited, a New Jersey-based fund reported 10,200 shares. Morgan Stanley, a New York-based fund reported 298,150 shares. Moreover, Cubist Systematic Strategies Ltd Liability Com has 0.01% invested in Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) for 26,525 shares. Piermont Mgmt holds 0.65% or 380,262 shares in its portfolio. Fmr Lc last reported 0% of its portfolio in the stock. Macquarie Grp Limited, a Australia-based fund reported 1.65 million shares. Teachers Advisors holds 1.02 million shares or 0.01% of its portfolio.

More important recent Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) news were published by: Prnewswire.com which released: “SPECTRUM PHARMACEUTICALS NOTIFICATION: Faruqi & Faruqi, LLP Encourages …” on September 20, 2016, also Prnewswire.com published article titled: “SECURITIES NOTICE: Rosen Law Firm Reminds Spectrum Pharmaceuticals, Inc …”, Globenewswire.com published: “SHAREHOLDER ALERT: Levi & Korsinsky, LLP Notifies Shareholders of Spectrum …” on October 07, 2016. More interesting news about Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) was released by: Prnewswire.com and their article: “Hynes Keller & Hernandez, LLC Announces Investigation of Spectrum …” with publication date: September 21, 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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