Spectrum Pharmaceuticals Inc. [NASDAQ: SPPI] closed the trading session at $2.99 on 07/31/20. The day’s price range saw the stock hit a low of $2.99, while the highest price level was $3.14. The company report on July 30, 2020 that Spectrum Pharmaceuticals Announces Pricing of Public Offering of Common Stock.
Spectrum Pharmaceuticals, Inc. (Nasdaq: SPPI) (“Spectrum” or the “Company”), a biopharmaceutical company focused on novel and targeted oncology therapies, today announced the pricing of an underwritten public offering of 21,666,667 shares of its common stock at a public offering price of $3.00 per share. The gross proceeds to Spectrum from this offering are expected to be approximately $65 million, before deducting underwriting discounts, commissions and estimated offering expenses. In addition, Spectrum has granted the underwriters a 30-day option to purchase up to an additional 3,250,000 shares of common stock. The offering is expected to close on August 3, 2020, subject to customary closing conditions. All of the shares are being offered by Spectrum.
Spectrum intends to use the net proceeds from the offering for general corporate purposes, including, without limitation, the continued development of its pipeline assets, sales and marketing activities, pre-launch activities associated with ROLONTIS and potential business development initiatives.
The stocks have a year to date performance of -17.86 percent and weekly performance of -4.47 percent. The stock has been moved at 18.18 percent over the last six months. The stock has performed -18.97 percent around the most recent 30 days and changed 11.57 percent over the most recent 3-months.
If compared to the average trading volume of 2.02M shares, SPPI reached to a volume of 4752126 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about Spectrum Pharmaceuticals Inc. [SPPI]:
Guggenheim have made an estimate for Spectrum Pharmaceuticals Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on December 26, 2019. While these analysts kept the previous recommendation, Cantor Fitzgerald raised their target price from $17 to $4. The new note on the price target was released on December 26, 2019, representing the official price target for Spectrum Pharmaceuticals Inc. stock. Previously, the target price had yet another raise to $18, while B. Riley FBR analysts kept a Buy rating on SPPI stock.
The Average True Range (ATR) for Spectrum Pharmaceuticals Inc. is set at 0.31 The Price to Book ratio for the last quarter was 2.17, with the Price to Cash per share for the same quarter was set at 1.47.
SPPI stock trade performance evaluation
Spectrum Pharmaceuticals Inc. [SPPI] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.47. With this latest performance, SPPI shares dropped by -18.97% in over the last four-week period, additionally plugging by 18.18% over the last 6 months – not to mention a drop of -60.03% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SPPI stock in for the last two-week period is set at 43.54, with the RSI for the last a single of trading hit 39.87, and the three-weeks RSI is set at 45.51 for Spectrum Pharmaceuticals Inc. [SPPI]. The present Moving Average for the last 50 days of trading for this stock 3.20, while it was recorded at 3.37 for the last single week of trading, and 4.30 for the last 200 days.
Spectrum Pharmaceuticals Inc. [SPPI]: An insightful look at the core fundamentals
Return on Total Capital for SPPI is now -58.19, given the latest momentum, and Return on Invested Capital for the company is -56.88. Return on Equity for this stock declined to -57.17, with Return on Assets sitting at -41.20. When it comes to the capital structure of this company, Spectrum Pharmaceuticals Inc. [SPPI] has a Total Debt to Total Equity ratio set at 2.13. Additionally, SPPI Total Debt to Total Capital is recorded at 2.09, with Total Debt to Total Assets ending up at 1.54. Long-Term Debt to Equity for the company is recorded at 1.25, with the Long-Term Debt to Total Capital now at 1.22.
Reflecting on the efficiency of the workforce at the company, Spectrum Pharmaceuticals Inc. [SPPI] managed to generate an average of -$927,301 per employee.Spectrum Pharmaceuticals Inc.’s liquidity data is similarly interesting compelling, with a Current Ratio set at 3.70.
Earnings per share (EPS) analysis for Spectrum Pharmaceuticals Inc. [SPPI] stock
With the latest financial reports released by the company, Spectrum Pharmaceuticals Inc. posted -0.26/share EPS, while the average EPS was predicted by analysts to be reported at -0.27/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 3.70%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for SPPI.
Spectrum Pharmaceuticals Inc. [SPPI]: Insider Ownership positions
There are presently around $216 million, or 62.50% of SPPI stock, in the hands of institutional investors. The top three institutional holders of SPPI stocks are: BLACKROCK INC. with ownership of 18,287,393, which is approximately -2.905% of the company’s market cap and around 2.00% of the total institutional ownership; VANGUARD GROUP INC, holding 13,268,542 shares of the stock with an approximate value of $39.67 million in SPPI stocks shares; and STATE STREET CORP, currently with $15.71 million in SPPI stock with ownership of nearly 8.475% of the company’s market capitalization.
Positions in Spectrum Pharmaceuticals Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 76 institutional holders increased their position in Spectrum Pharmaceuticals Inc. [NASDAQ:SPPI] by around 9,860,325 shares. Additionally, 76 investors decreased positions by around 14,583,021 shares, while 38 investors held positions by with 47,774,279 shares. The mentioned changes placed institutional holdings at 72,217,625 shares, according to the latest SEC report filing. SPPI stock had 19 new institutional investments in for a total of 2,919,103 shares, while 33 institutional investors sold positions of 4,581,144 shares during the same period.