Market Analysts see Spectrum Pharmaceuticals Inc. [SPPI] gaining to $12. Time to buy?

Spectrum Pharmaceuticals Inc. [NASDAQ: SPPI] stock went on a downward path that fall over -0.50% on Thursday, amounting to a one-week price increase of more than 0.34%. The company report on April 10, 2021 that Spectrum Pharmaceuticals Presents Additional Twice Daily Dosing Data for Poziotinib at the AACR Virtual Meeting 2021.

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Spectrum Pharmaceuticals (NasdaqGS: SPPI), a biopharmaceutical company focused on novel and targeted oncology therapies, presented a data update on the safety and tolerability of twice daily (BID) administered poziotinib in NSCLC patients with EGFR or HER2 exon 20 insertion mutations. These preliminary data, from Cohort 5 of the ZENITH20 clinical trial, continue to show improved tolerability with BID dosing, reduced dose interruption compared to once daily (QD) dosing, and a reduction in treatment emergent Grade 3 or higher adverse events. The preliminary data also demonstrate improved anti-tumor activity with 8mg BID dosing. The presentation is part of the AACR Virtual Meeting 2021 taking place April 10-15, 2021.

“The 8mg BID dosing arm is showing the best performance we have seen across the various dosing arms for a mixed population of EGFR and HER2 exon 20 insertion mutations in NSCLC patients. There is clearly an improved therapeutic effect and a lower adverse event rate which is highly encouraging,” said Francois Lebel, M.D., Chief Medical Officer of Spectrum Pharmaceuticals. “We are currently expanding the 8mg BID dataset and look forward to evaluating this dose in additional NSCLC patients and other solid tumors.”.

Over the last 12 months, SPPI stock rose by 7.17%. The average equity rating for SPPI stock is currently 2.20, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $456.57 million, with 141.55 million shares outstanding and 137.10 million shares in the current float. Compared to the average trading volume of 2.69M shares, SPPI stock reached a trading volume of 4163556 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Spectrum Pharmaceuticals Inc. [SPPI]:

JMP Securities have made an estimate for Spectrum Pharmaceuticals Inc. shares, keeping their opinion on the stock as Mkt Outperform, with their previous recommendation back on September 17, 2020. 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 drop from $17 to $4, while Cantor Fitzgerald kept a Neutral rating on SPPI stock.

The Average True Range (ATR) for Spectrum Pharmaceuticals Inc. is set at 0.16 The Price to Book ratio for the last quarter was 3.15, with the Price to Cash per share for the same quarter was set at 1.18.

SPPI Stock Performance Analysis:

Spectrum Pharmaceuticals Inc. [SPPI] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.34. With this latest performance, SPPI shares dropped by -5.68% in over the last four-week period, additionally sinking by -21.11% over the last 6 months – not to mention a rise of 7.17% 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 43.00, with the RSI for the last a single of trading hit 43.89, and the three-weeks RSI is set at 43.12 for Spectrum Pharmaceuticals Inc. [SPPI]. The present Moving Average for the last 50 days of trading for this stock 3.34, while it was recorded at 2.96 for the last single week of trading, and 3.78 for the last 200 days.

Insight into Spectrum Pharmaceuticals Inc. Fundamentals:

Return on Total Capital for SPPI is now -102.52, given the latest momentum, and Return on Invested Capital for the company is -104.47. Return on Equity for this stock declined to -105.52, with Return on Assets sitting at -74.43. When it comes to the capital structure of this company, Spectrum Pharmaceuticals Inc. [SPPI] has a Total Debt to Total Equity ratio set at 1.81. Additionally, SPPI Total Debt to Total Capital is recorded at 1.78, with Total Debt to Total Assets ending up at 1.23. Long-Term Debt to Equity for the company is recorded at 0.66, with the Long-Term Debt to Total Capital now at 0.65.

Reflecting on the efficiency of the workforce at the company, Spectrum Pharmaceuticals Inc. [SPPI] managed to generate an average of -$973,136 per employee.Spectrum Pharmaceuticals Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.50 and a Current Ratio set at 3.50.

SPPI Stock EPS

With the latest financial reports released by the company, Spectrum Pharmaceuticals Inc. posted -0.36/share EPS, while the average EPS was predicted by analysts to be reported at -0.35/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -2.90%. 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 Position Details

There are presently around $299 million, or 67.80% of SPPI stock, in the hands of institutional investors. The top three institutional holders of SPPI stocks are: BLACKROCK INC. with ownership of 27,820,979, which is approximately 5.111% of the company’s market cap and around 1.40% of the total institutional ownership; VANGUARD GROUP INC, holding 12,098,371 shares of the stock with an approximate value of $36.17 million in SPPI stocks shares; and STATE STREET CORP, currently with $31.65 million in SPPI stock with ownership of nearly 53.903% of the company’s market capitalization.

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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 80 institutional holders increased their position in Spectrum Pharmaceuticals Inc. [NASDAQ:SPPI] by around 11,893,310 shares. Additionally, 60 investors decreased positions by around 4,655,689 shares, while 35 investors held positions by with 83,460,593 shares. The mentioned changes placed institutional holdings at 100,009,592 shares, according to the latest SEC report filing. SPPI stock had 23 new institutional investments in for a total of 1,116,655 shares, while 18 institutional investors sold positions of 1,435,242 shares during the same period.

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