Spectrum Pharmaceuticals (SPPI) to Release Earnings on Thursday

Spectrum Pharmaceuticals (NASDAQ:SPPI) is set to announce its earnings results after the market closes on Thursday, May 9th. Analysts expect the company to announce earnings of ($0.27) per share for the quarter. Investors that wish to register for the company’s conference call can do so using this link.

Spectrum Pharmaceuticals (NASDAQ:SPPI) last issued its quarterly earnings results on Thursday, February 28th. The biotechnology company reported ($0.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.12). The company had revenue of $29.40 million during the quarter, compared to the consensus estimate of $26.60 million. Spectrum Pharmaceuticals had a negative return on equity of 31.79% and a negative net margin of 109.76%. On average, analysts expect Spectrum Pharmaceuticals to post $-2 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Shares of SPPI opened at $9.32 on Wednesday. The firm has a market capitalization of $1.09 billion, a P/E ratio of -9.23 and a beta of 2.58. Spectrum Pharmaceuticals has a 52-week low of $6.22 and a 52-week high of $25.29.

In other news, COO Thomas J. Riga sold 2,285 shares of Spectrum Pharmaceuticals stock in a transaction on Wednesday, February 20th. The stock was sold at an average price of $11.47, for a total transaction of $26,208.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Anthony E. Maida III sold 10,738 shares of Spectrum Pharmaceuticals stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $10.67, for a total value of $114,574.46. Following the sale, the director now owns 22,250 shares of the company’s stock, valued at $237,407.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 80,731 shares of company stock valued at $855,719. Corporate insiders own 9.35% of the company’s stock.

A number of analysts recently issued reports on SPPI shares. HC Wainwright restated a “buy” rating and issued a $40.00 price target on shares of Spectrum Pharmaceuticals in a research report on Thursday, January 10th. BidaskClub upgraded Spectrum Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Tuesday, January 15th. ValuEngine downgraded Spectrum Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Monday, February 4th. Cantor Fitzgerald started coverage on Spectrum Pharmaceuticals in a research report on Thursday, February 7th. They issued an “overweight” rating and a $19.00 price target for the company. Finally, Jefferies Financial Group restated a “buy” rating and issued a $21.00 price target on shares of Spectrum Pharmaceuticals in a research report on Friday, March 15th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus 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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Earnings History for Spectrum Pharmaceuticals (NASDAQ:SPPI)

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