Spectrum Pharmaceuticals Inc. [NASDAQ: SPPI] traded at a low on 08/29/22, posting a -8.06 loss after which it closed the day’ session at $1.14. The company report on August 11, 2022 that Spectrum Pharmaceuticals Reports Second Quarter 2022 Financial Results and Provides Corporate Update.
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The results of the trading session contributed to over 4606533 shares changing hands. Over the past one week, the price volatility of Spectrum Pharmaceuticals Inc. stands at 8.08% while the volatility over the past one month is 10.11%.
The market cap for SPPI stock reached $228.36 million, with 175.57 million shares outstanding and 169.21 million shares in the current float. Compared to the average trading volume of 2.52M shares, SPPI reached a trading volume of 4606533 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 $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 0.11 The Price to Book ratio for the last quarter was 6.00, with the Price to Cash per share for the same quarter was set at 0.34.
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 -10.24. With this latest performance, SPPI shares gained by 40.22% in over the last four-week period, additionally plugging by 67.65% over the last 6 months – not to mention a drop of -52.10% 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 49.73, with the RSI for the last a single of trading hit 44.01, and the three-weeks RSI is set at 52.35 for Spectrum Pharmaceuticals Inc. [SPPI]. The present Moving Average for the last 50 days of trading for this stock 0.9777, while it was recorded at 1.2640 for the last single week of trading, and 1.0444 for the last 200 days.
Spectrum Pharmaceuticals Inc. [SPPI]: Deeper insight into the 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 1.80 and a Current Ratio set at 1.80.
Insider trade positions for Spectrum Pharmaceuticals Inc. [SPPI]
There are presently around $67 million, or 31.80% 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 0% of the company’s market cap and around 1.70% of the total institutional ownership; VANGUARD GROUP INC, holding 8,828,676 shares of the stock with an approximate value of $10.06 million in SPPI stocks shares; and D. E. SHAW & CO., INC., currently with $9.18 million in SPPI stock with ownership of nearly 2.627% 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 39 institutional holders increased their position in Spectrum Pharmaceuticals Inc. [NASDAQ:SPPI] by around 5,922,192 shares. Additionally, 60 investors decreased positions by around 19,751,021 shares, while 23 investors held positions by with 32,929,159 shares. The mentioned changes placed institutional holdings at 58,602,372 shares, according to the latest SEC report filing. SPPI stock had 19 new institutional investments in for a total of 1,085,081 shares, while 33 institutional investors sold positions of 3,569,495 shares during the same period.