Spectrum Pharmaceuticals Inc. [NASDAQ: SPPI] jumped around 0.02 points on Monday, while shares priced at $0.41 at the close of the session, up 5.10%. The company report on October 21, 2022 that Spectrum Pharmaceuticals Announces Commercial Availability of ROLVEDON™ (eflapegrastim-xnst) Injection.
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— Distribution partners stocked with product and ready to sell into estimated $2 billion market –.
Spectrum Pharmaceuticals, Inc. (NasdaqGS: SPPI) (“Spectrum” or the “Company”), a biopharmaceutical company focused on novel and targeted oncology therapies, today announced the commercial availability of ROLVEDON™ (eflapegrastim-xnst) injection to decrease the incidence of infection, as manifested by febrile neutropenia, in adult patients with non-myeloid malignancies receiving myelosuppressive anti-cancer drugs associated with clinically significant incidence of febrile neutropenia. ROLVEDON received U.S. Food and Drug Administration approval in September 2022.
Spectrum Pharmaceuticals Inc. stock is now -67.72% down from its year-to-date (YTD) trading value. SPPI Stock saw the intraday high of $0.4896 and lowest of $0.3815 per share. The company’s 52-week high price is 2.45, which means current price is +13.86% above from all time high which was touched on 01/03/22.
Compared to the average trading volume of 4.76M shares, SPPI reached a trading volume of 13233289 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 $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 0.06 The Price to Book ratio for the last quarter was 2.16, with the Price to Cash per share for the same quarter was set at 0.37.
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 -1.32. With this latest performance, SPPI shares dropped by -4.09% in over the last four-week period, additionally sinking by -59.01% over the last 6 months – not to mention a drop of -79.40% 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 33.64, with the RSI for the last a single of trading hit 38.32, and the three-weeks RSI is set at 34.29 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 0.3949 for the last single week of trading, and 0.8792 for the last 200 days.
Spectrum Pharmaceuticals Inc. [SPPI]: Deeper insight into the fundamentals
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 $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 $3.62 million in SPPI stocks shares; and D. E. SHAW & CO., INC., currently with $3.3 million in SPPI stock with ownership of nearly 2.627% of the company’s market capitalization.
40 institutional holders increased their position in Spectrum Pharmaceuticals Inc. [NASDAQ:SPPI] by around 5,940,815 shares. Additionally, 59 investors decreased positions by around 19,730,290 shares, while 22 investors held positions by with 32,867,671 shares. The mentioned changes placed institutional holdings at 58,538,776 shares, according to the latest SEC report filing. SPPI stock had 20 new institutional investments in for a total of 1,103,704 shares, while 33 institutional investors sold positions of 3,549,367 shares during the same period.