Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) CFO Kurt A. Gustafson sold 5,974 shares of the firm’s stock in a transaction dated Friday, March 29th. The shares were sold at an average price of $10.65, for a total transaction of $63,623.10. Following the transaction, the chief financial officer now owns 240,740 shares of the company’s stock, valued at $2,563,881. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Kurt A. Gustafson also recently made the following trade(s):
- On Monday, March 25th, Kurt A. Gustafson sold 3,797 shares of Spectrum Pharmaceuticals stock. The stock was sold at an average price of $9.46, for a total transaction of $35,919.62.
SPPI stock traded up $0.29 during midday trading on Friday, reaching $9.62. 386,966 shares of the company’s stock traded hands, compared to its average volume of 1,026,778. The stock has a market cap of $1.08 billion, a price-to-earnings ratio of -9.52 and a beta of 2.70. Spectrum Pharmaceuticals, Inc. has a fifty-two week low of $6.22 and a fifty-two week high of $25.29.
A number of equities research analysts have recently commented on the stock. ValuEngine downgraded shares of Spectrum Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Monday, February 4th. BidaskClub raised shares of Spectrum Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Thursday, December 27th. Cantor Fitzgerald started coverage on shares of Spectrum Pharmaceuticals in a research report on Thursday, February 7th. They issued an “overweight” rating and a $19.00 target price on the stock. Jefferies Financial Group reissued a “buy” rating and issued a $21.00 target price on shares of Spectrum Pharmaceuticals in a research report on Friday, March 15th. Finally, HC Wainwright reissued a “buy” rating and issued a $40.00 target price on shares of Spectrum Pharmaceuticals in a research report on Thursday, January 10th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $24.20.
Several hedge funds and other institutional investors have recently bought and sold shares of SPPI. First Trust Advisors LP lifted its position in shares of Spectrum Pharmaceuticals by 462.8% during the third quarter. First Trust Advisors LP now owns 135,609 shares of the biotechnology company’s stock worth $2,278,000 after purchasing an additional 111,513 shares in the last quarter. Swiss National Bank increased its stake in shares of Spectrum Pharmaceuticals by 3.6% in the third quarter. Swiss National Bank now owns 163,400 shares of the biotechnology company’s stock worth $2,745,000 after buying an additional 5,700 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Spectrum Pharmaceuticals by 4.5% in the third quarter. Bank of New York Mellon Corp now owns 1,156,085 shares of the biotechnology company’s stock worth $19,423,000 after buying an additional 50,157 shares during the last quarter. BlackRock Inc. increased its stake in shares of Spectrum Pharmaceuticals by 7.8% in the third quarter. BlackRock Inc. now owns 17,820,045 shares of the biotechnology company’s stock worth $299,375,000 after buying an additional 1,292,819 shares during the last quarter. Finally, Trexquant Investment LP bought a new stake in shares of Spectrum Pharmaceuticals in the third quarter worth $316,000. 77.36% of the stock is currently owned by institutional investors and hedge funds.
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About Spectrum Pharmaceuticals
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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