Spectrum Pharmaceuticals, Inc. (NASDAQ:$SPPI) experienced a disappointing day during trading on Monday, September 18. The stock dipped -0.69% to a closing price of $10.10. The stock normally trades 894.52 million shares a day, but on Monday this slipped to 1.3 million, signifying a significant change.
Analysts predict a 38.61% move for the biotechnology company based on the $14 target price it is set to reach in 12 months. Most analysts are setting a target price of $11.50, despite the stock’s 214.64% recovery from its lows. They also predict a possible 10.89% drop to a minimum target price of $9.
However, over the last 30 days, we have seen a 6.88% increase in the stock price and a 51.2% increase over the last 3 months. The share’s average price this year is up 127.99% and a day price range of $10.01 to $10.28.
To cross the median price target of $11.50, the stock only needs to rise 13.86%. With short-term liquidity in focus, the company has 83.67 million shares outstanding that normally trade 12.29% of its float.
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