On Monday, Jefferies Group analysts listed their Q3 forecasts for Spectrum Pharmaceuticals Inc. (NASDAQ:$SPPI) stock. Analyst M. Andrews says the stock will likely increase from the prior quarter’s -$0.18 EPS and reach an EPS of -$0.16. Jefferies Group currently has the stock pegged as a ‘Buy’ with a target price of $13.00. Looking ahead, they also forecast Q4 2017 as -$0.19 EPS, FY2018 at -$0.74 EPS, FY2019 earnings at -$0.31 and FY2020 EPS at $0.26.
On Wednesday, Spectrum stock opened at $9.90. They currently have a 52 week high of $10.77 and a 52 week low of $3.21. The company has 50 and 200-day moving averages of $9.43 and $7.42 respectively.
Multiple other firms have also weighed in on the stock recently:
- Wednesday, July 5th: Zacks Investment Research increased its rating from ‘Sell’ to ‘Hold’.
- Monday, July 31st: BidaskClub lowered their rating of the biotechnology company from ‘Strong-Buy’ to a ‘Buy’.
- Thursday, August 17th: ValuEngine upgraded their rating to ‘Hold’ from ‘Sell’.
- Thursday, September 14th: HC Wainwright restated a ‘Buy’ rating with a target price of $14.00.
Spectrum has a consensus of ‘Buy’ and an average target price of $12.00.
On Thursday, August 3rd, Spectrum posted their latest earnings results. The company had a -$0.26 EPS for the quarter, past the Zacks’ consensus of -$0.27. The company earned -$0.35 EPS during the same quarter last year.
On the other hand, the company had revenue of $34.30 million during the quarter. This beat the estimate of $30.95 million. This is up 1.0% over the same quarter last year. It also had a negative return on equity of 30.95% and a negative net margin of 59.33%.
Multiple firms have recently altered their holdings in the company:
- PDT Partners LLC bought an additional 18,800 shares during the 2nd quarter for a total of 142,000 shares valued at $1,058,000, an increase of 15.3%.
- Macquarie Group Ltd bought an additional 193,883 shares during the 2nd quarter for a total of 2,247,493 with a value of $16,744,000. This represents a 9.4% increase.
- Cornerstone Capital Management Holdings LLC bought an additional 124,383 shares during the 2nd quarter, for a total of 187,697 shares valued at $1,397,000. This represented an increase of 196.5%.
- State Street Corp (NYSE:$STT) bought an additional 666,605 shares for a total of 3,020,563 shares valued at $22,507,000. This represents a 28.3% increase over the 2nd quarter.
- Piedmont Investment Advisors LLC bought into the company during the second quarter with a purchase valued at $114,000.
Spectrum is 66.09% owned by hedge funds and institutional investors.
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