Wall Street Analyst Initiated Spectrum Pharmaceuticals Inc. [SPPI]. What else is Wall St. saying

Spectrum Pharmaceuticals Inc. [NASDAQ: SPPI] gained 6.12% on the last trading session, reaching $0.40 price per share at the time. The company report on September 23, 2022 that Spectrum Pharmaceuticals Announces Debt Financing Agreement with SLR Capital Partners with $30 Million Funded at Closing.

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— Multiple tranche debt financing provides Spectrum with up to $65 million –.

— Funding provides additional capital to optimize commercial launch of ROLVEDON™ –.

Spectrum Pharmaceuticals Inc. represents 175.57 million in outstanding shares, while the company has a total market value of $79.42 million with the latest information. SPPI stock price has been found in the range of $0.36 to $0.41.

If compared to the average trading volume of 4.65M shares, SPPI reached a trading volume of 3046702 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $3.60 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 0.07 The Price to Book ratio for the last quarter was 2.13, with the Price to Cash per share for the same quarter was set at 0.35.

Trading performance analysis for SPPI stock

Spectrum Pharmaceuticals Inc. [SPPI] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -8.00. With this latest performance, SPPI shares dropped by -65.49% in over the last four-week period, additionally sinking by -61.17% over the last 6 months – not to mention a drop of -79.19% 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 27.99, with the RSI for the last a single of trading hit 26.99, and the three-weeks RSI is set at 31.25 for Spectrum Pharmaceuticals Inc. [SPPI]. The present Moving Average for the last 50 days of trading for this stock 0.9479, while it was recorded at 0.3989 for the last single week of trading, and 0.9130 for the last 200 days.

Spectrum Pharmaceuticals Inc. [SPPI]: A deeper dive into fundamental analysis

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.

An analysis of insider ownership at Spectrum Pharmaceuticals Inc. [SPPI]

There are presently around $24 million, or 31.70% 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 $3.57 million in SPPI stocks shares; and D. E. SHAW & CO., INC., currently with $3.25 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 November and at the time of the November reporting period, where 39 institutional holders increased their position in Spectrum Pharmaceuticals Inc. [NASDAQ:SPPI] by around 5,922,192 shares. Additionally, 59 investors decreased positions by around 19,750,418 shares, while 22 investors held positions by with 32,847,543 shares. The mentioned changes placed institutional holdings at 58,520,153 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.


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