Fmr LLC Sells 305,414 Shares of Spectrum Pharmaceuticals, Inc. (SPPI)

Fmr LLC trimmed its stake in Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) by 8.2% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 3,410,002 shares of the biotechnology company’s stock after selling 305,414 shares during the quarter. Fmr LLC owned approximately 3.19% of Spectrum Pharmaceuticals worth $29,837,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in Spectrum Pharmaceuticals by 6.2% in the third quarter. Vanguard Group Inc. now owns 10,910,048 shares of the biotechnology company’s stock valued at $183,289,000 after buying an additional 639,075 shares during the last quarter. Vanguard Group Inc raised its stake in shares of Spectrum Pharmaceuticals by 6.2% during the third quarter. Vanguard Group Inc now owns 10,910,048 shares of the biotechnology company’s stock valued at $183,289,000 after purchasing an additional 639,075 shares in the last quarter. Macquarie Group Ltd. raised its stake in shares of Spectrum Pharmaceuticals by 89.1% during the fourth quarter. Macquarie Group Ltd. now owns 2,376,558 shares of the biotechnology company’s stock valued at $20,795,000 after purchasing an additional 1,119,715 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Spectrum Pharmaceuticals by 12.7% during the fourth quarter. Geode Capital Management LLC now owns 1,156,119 shares of the biotechnology company’s stock valued at $10,116,000 after purchasing an additional 130,715 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Spectrum Pharmaceuticals by 4.5% during the third quarter. Bank of New York Mellon Corp now owns 1,156,085 shares of the biotechnology company’s stock valued at $19,423,000 after purchasing an additional 50,157 shares in the last quarter. Institutional investors own 77.91% of the company’s stock.

Shares of NASDAQ SPPI opened at $9.53 on Monday. Spectrum Pharmaceuticals, Inc. has a fifty-two week low of $6.22 and a fifty-two week high of $25.29. The stock has a market cap of $1.07 billion, a P/E ratio of -9.44 and a beta of 2.70.

Spectrum Pharmaceuticals (NASDAQ:SPPI) last issued its quarterly earnings data on Thursday, February 28th. The biotechnology company reported ($0.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.12). Spectrum Pharmaceuticals had a negative net margin of 109.76% and a negative return on equity of 31.79%. The company had revenue of $29.40 million for the quarter, compared to the consensus estimate of $26.60 million. On average, research analysts predict that Spectrum Pharmaceuticals, Inc. will post -1.63 EPS for the current year.

In other Spectrum Pharmaceuticals news, COO Thomas J. Riga sold 16,493 shares of the business’s stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $10.75, for a total value of $177,299.75. Following the sale, the chief operating officer now directly owns 260,423 shares in the company, valued at $2,799,547.25. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Thomas J. Riga sold 2,285 shares of the business’s stock in a transaction dated Wednesday, February 20th. The stock was sold at an average price of $11.47, for a total transaction of $26,208.95. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 93,991 shares of company stock worth $994,728. Company insiders own 9.35% of the company’s stock.

A number of equities research analysts recently weighed in on the stock. ValuEngine cut shares of Spectrum Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Monday, February 4th. Cantor Fitzgerald assumed coverage on shares of Spectrum Pharmaceuticals in a research note on Thursday, February 7th. They set an “overweight” rating and a $19.00 price objective on the stock. BidaskClub cut shares of Spectrum Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. HC Wainwright restated a “buy” rating and set a $40.00 price objective on shares of Spectrum Pharmaceuticals in a research note on Thursday, January 10th. Finally, Jefferies Financial Group restated a “buy” rating and set a $21.00 price objective on shares of Spectrum Pharmaceuticals in a research note on Friday, March 15th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Spectrum Pharmaceuticals has an average rating of “Buy” and an average price target of $24.20.

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Spectrum Pharmaceuticals Company Profile

Spectrum Pharmaceuticals, Inc develops and commercializes oncology and hematology drug products. The company markets six drug products, including FUSILEV for patients with metastatic colorectal cancer and rescue after high-dose methotrexate therapy in osteosarcoma, and to diminish toxicity and counteract the effects of impaired methotrexate elimination and of inadvertent overdosage of folic acid antagonists; FOLOTYN, a folate analogue metabolic inhibitor for peripheral T-cell lymphoma (PTCL); ZEVALIN injection for patients with B-cell non-Hodgkin's lymphoma; MARQIBO, a sphingomyelin/cholesterol liposome-encapsulated formulation for adult patients with Philadelphia chromosome-negative acute lymphoblastic leukemia; BELEODAQ injection for PTCL; and EVOMELA for use as a conditioning treatment prior to autologous stem cell transplant in multiple myeloma patients.

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Institutional Ownership by Quarter for Spectrum Pharmaceuticals (NASDAQ:SPPI)

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