Spectrum Pharmaceuticals Inc. [SPPI] stock Initiated by JMP Securities analyst, price target now $12

Spectrum Pharmaceuticals Inc. [NASDAQ: SPPI] traded at a high on 06/01/21, posting a 6.96 gain after which it closed the day’ session at $3.69. The company report on June 1, 2021 that Spectrum Pharmaceuticals Announces That the ROLONTIS® (eflapegrastim) Pre-Approval Inspection Has Been Initiated.

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Spectrum Pharmaceuticals (NasdaqGS: SPPI), a biopharmaceutical company focused on novel and targeted oncology therapies, announced that the U.S. Food and Drug Administration (FDA) is “on site” for the ROLONTIS® (eflapegrastim) manufacturing facility inspection. Spectrum previously received notification from the agency that it would defer its decision on the BLA for ROLONTIS because an inspection of the Hanmi Bioplant in South Korea could not be conducted due to restrictions on travel related to the COVID-19 pandemic.

“I would like to confirm that the FDA has initiated its inspection of the ROLONTIS manufacturing facility,” said Joe Turgeon, President and CEO of Spectrum Pharmaceuticals.

The results of the trading session contributed to over 3938148 shares changing hands. Over the past one week, the price volatility of Spectrum Pharmaceuticals Inc. stands at 4.04% while the volatility over the past one month is 5.53%.

The market cap for SPPI stock reached $587.41 million, with 145.37 million shares outstanding and 137.35 million shares in the current float. Compared to the average trading volume of 2.71M shares, SPPI reached a trading volume of 3938148 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about 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 0.17 The Price to Book ratio for the last quarter was 4.39, with the Price to Cash per share for the same quarter was set at 1.02.

How has SPPI stock performed recently?

Spectrum Pharmaceuticals Inc. [SPPI] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 14.60. With this latest performance, SPPI shares gained by 18.65% in over the last four-week period, additionally sinking by -21.99% over the last 6 months – not to mention a rise of 21.78% 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 67.95, with the RSI for the last a single of trading hit 73.78, and the three-weeks RSI is set at 62.93 for Spectrum Pharmaceuticals Inc. [SPPI]. The present Moving Average for the last 50 days of trading for this stock 3.16, while it was recorded at 3.41 for the last single week of trading, and 3.76 for the last 200 days.

Spectrum Pharmaceuticals Inc. [SPPI]: Deeper insight into the 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 3.60 and a Current Ratio set at 3.60.

Earnings analysis for Spectrum Pharmaceuticals Inc. [SPPI]

With the latest financial reports released by the company, Spectrum Pharmaceuticals Inc. posted -0.28/share EPS, while the average EPS was predicted by analysts to be reported at -0.32/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 12.50%. 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.

Insider trade positions for Spectrum Pharmaceuticals Inc. [SPPI]

There are presently around $349 million, or 64.50% of SPPI stock, in the hands of institutional investors. The top three institutional holders of SPPI stocks are: BLACKROCK INC. with ownership of 28,173,428, which is approximately 1.267% of the company’s market cap and around 1.40% of the total institutional ownership; STATE STREET CORP, holding 13,126,592 shares of the stock with an approximate value of $45.29 million in SPPI stocks shares; and VANGUARD GROUP INC, currently with $43.56 million in SPPI stock with ownership of nearly 4.362% 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 53 institutional holders increased their position in Spectrum Pharmaceuticals Inc. [NASDAQ:SPPI] by around 9,722,724 shares. Additionally, 78 investors decreased positions by around 8,496,243 shares, while 36 investors held positions by with 83,045,867 shares. The mentioned changes placed institutional holdings at 101,264,834 shares, according to the latest SEC report filing. SPPI stock had 9 new institutional investments in for a total of 427,025 shares, while 24 institutional investors sold positions of 4,123,859 shares during the same period.

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