The stock of Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) hit a new 52-week low and has $3.29 target or 12.00% below today’s $3.74 share price. The 6 months bearish chart indicates high risk for the $302.01 million company. The 1-year low was reported on Oct, 28 by Barchart.com. If the $3.29 price target is reached, the company will be worth $36.24M 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 303,029 shares traded hands. Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) has declined 35.00% since March 28, 2016 and is downtrending. It has underperformed by 39.71% the S&P500.
Analysts await Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) to report earnings on November, 2. They expect $-0.32 earnings per share, down 100.00% or $0.16 from last year’s $-0.16 per share. After $-0.10 actual earnings per share 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 is positive, 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.
Capstone Asset has 17,360 shares for 0% of their US portfolio. Goldman Sachs Gru holds 0% of its portfolio in Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) for 1.57M shares. Blackrock Inv Mngmt Ltd Liability accumulated 0% or 301,576 shares. Moreover, Geode Capital Management Ltd Llc has 0% invested in Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) for 400,313 shares. Lpl Financial Limited Liability owns 10,869 shares or 0% of their US portfolio. Aperio Group Limited Company holds 0% of its portfolio in Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) for 27,149 shares. Teachers has 0.01% invested in the company for 1.02 million shares. Denver Invest Advisors Ltd Llc has 0% invested in the company for 16,785 shares. Fmr Limited Liability Co holds 0% or 4.24 million shares in its portfolio. California State Teachers Retirement Sys has 0% invested in the company for 140,465 shares. Blackrock Ltd Liability has 0% invested in the company for 99,210 shares. Nationwide Fund Advisors reported 104,516 shares or 0% of all its holdings. Amer Intl Incorporated owns 48,764 shares or 0% of their US portfolio. Royal Commercial Bank Of Canada has 970,332 shares for 0% of their US portfolio. The New York-based Citigroup has invested 0% in Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI).
More notable recent Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) news were published by: Businesswire.com which released: “Spectrum Pharmaceuticals Announces Third Quarter 2016 Financial Results …” on October 27, 2016, also Fool.com with their article: “Why Spectrum Pharmaceuticals, Inc. Is in the Red Today” published on August 10, 2016, Marketwatch.com published: “Spectrum Pharmaceuticals’ stock drops after cancer treatment voted down by FDA …” on September 14, 2016. More interesting news about Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) were released by: Prnewswire.com and their article: “SHAREHOLDER ALERT: Purcell Julie & Lefkowitz LLP Is Investigating Spectrum …” published on October 06, 2016 as well as Prnewswire.com‘s news article titled: “SECURITIES NOTICE: Rosen Law Firm Reminds Spectrum Pharmaceuticals, Inc …” with publication date: September 30, 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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