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


Spectrum Pharmaceuticals Inc. [NASDAQ: SPPI] traded at a high on 01/11/22, posting a 2.59 gain after which it closed the day’ session at $1.19. The company report on January 5, 2022 that Spectrum Pharmaceuticals Announces Strategic Restructuring.

Workforce reduction of approximately 30%.

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The results of the trading session contributed to over 3604328 shares changing hands. Over the past one week, the price volatility of Spectrum Pharmaceuticals Inc. stands at 9.85% while the volatility over the past one month is 9.62%.

The market cap for SPPI stock reached $205.17 million, with 159.26 million shares outstanding and 140.59 million shares in the current float. Compared to the average trading volume of 4.67M shares, SPPI reached a trading volume of 3604328 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]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SPPI shares is $6.20 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SPPI stock is a recommendation set at 2.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

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 0.13 The Price to Book ratio for the last quarter was 2.38, with the Price to Cash per share for the same quarter was set at 0.77.

How has SPPI stock performed recently?

Spectrum Pharmaceuticals Inc. [SPPI] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -16.78. With this latest performance, SPPI shares dropped by -16.20% in over the last four-week period, additionally sinking by -65.20% over the last 6 months – not to mention a drop of -67.84% 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 38.04, with the RSI for the last a single of trading hit 37.54, and the three-weeks RSI is set at 38.37 for Spectrum Pharmaceuticals Inc. [SPPI]. The present Moving Average for the last 50 days of trading for this stock 1.6394, while it was recorded at 1.2000 for the last single week of trading, and 2.6177 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 2.40 and a Current Ratio set at 2.40.

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Insider trade positions for Spectrum Pharmaceuticals Inc. [SPPI]

There are presently around $125 million, or 65.80% of SPPI stock, in the hands of institutional investors. The top three institutional holders of SPPI stocks are: BLACKROCK INC. with ownership of 30,531,435, which is approximately 1.115% of the company’s market cap and around 0.20% of the total institutional ownership; STATE STREET CORP, holding 17,136,619 shares of the stock with an approximate value of $20.39 million in SPPI stocks shares; and ARMISTICE CAPITAL, LLC, currently with $19.52 million in SPPI stock with ownership of nearly 48.443% of the company’s market capitalization.

Positions in Spectrum Pharmaceuticals Inc. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 66 institutional holders increased their position in Spectrum Pharmaceuticals Inc. [NASDAQ:SPPI] by around 14,816,824 shares. Additionally, 69 investors decreased positions by around 13,311,873 shares, while 36 investors held positions by with 77,111,509 shares. The mentioned changes placed institutional holdings at 105,240,206 shares, according to the latest SEC report filing. SPPI stock had 18 new institutional investments in for a total of 646,874 shares, while 23 institutional investors sold positions of 1,825,508 shares during the same period.