Spectrum Pharmaceuticals Inc. [NASDAQ: SPPI] surged by $0.09 during the normal trading session on Thursday and reaching a high of $1.2888 during the day while it closed the day at $1.21. The company report on August 11, 2022 that Spectrum Pharmaceuticals Reports Second Quarter 2022 Financial Results and Provides Corporate Update.
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Spectrum Pharmaceuticals Inc. stock has also gained 29.31% of its value over the past 7 days. However, SPPI stock has inclined by 65.21% in the 3 months of the year. Over the past six months meanwhile, it has gained 77.97% and lost -4.72% year-on date.
The market cap for SPPI stock reached $192.34 million, with 169.74 million shares outstanding and 161.14 million shares in the current float. Compared to the average trading volume of 2.10M shares, SPPI reached a trading volume of 3821049 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]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SPPI shares is $5.60 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 2.00. 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 0.08 The Price to Book ratio for the last quarter was 3.67, with the Price to Cash per share for the same quarter was set at 0.56.
SPPI stock trade performance evaluation
Spectrum Pharmaceuticals Inc. [SPPI] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 29.31. With this latest performance, SPPI shares gained by 45.08% in over the last four-week period, additionally plugging by 77.97% over the last 6 months – not to mention a drop of -48.51% 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 77.34, with the RSI for the last a single of trading hit 81.56, and the three-weeks RSI is set at 72.55 for Spectrum Pharmaceuticals Inc. [SPPI]. The present Moving Average for the last 50 days of trading for this stock 0.8567, while it was recorded at 1.1060 for the last single week of trading, and 1.0886 for the last 200 days.
Spectrum Pharmaceuticals Inc. [SPPI]: An insightful look at the core fundamentals
Return on Equity for this stock declined to -174.30, with Return on Assets sitting at -102.77.
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.
Spectrum Pharmaceuticals Inc. [SPPI]: Insider Ownership positions
There are presently around $85 million, or 40.40% of SPPI stock, in the hands of institutional investors. The top three institutional holders of SPPI stocks are: ARMISTICE CAPITAL, LLC with ownership of 17,100,000, which is approximately 76.913% of the company’s market cap and around 1.90% of the total institutional ownership; BLACKROCK INC., holding 15,789,223 shares of the stock with an approximate value of $19.11 million in SPPI stocks shares; and VANGUARD GROUP INC, currently with $9.64 million in SPPI stock with ownership of nearly -16.103% of the company’s market capitalization.
Positions in Spectrum Pharmaceuticals Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 31 institutional holders increased their position in Spectrum Pharmaceuticals Inc. [NASDAQ:SPPI] by around 16,937,515 shares. Additionally, 82 investors decreased positions by around 42,075,068 shares, while 23 investors held positions by with 11,480,372 shares. The mentioned changes placed institutional holdings at 70,492,955 shares, according to the latest SEC report filing. SPPI stock had 16 new institutional investments in for a total of 987,269 shares, while 39 institutional investors sold positions of 5,005,467 shares during the same period.