JMP Securities lifts Spectrum Pharmaceuticals Inc. [SPPI] price estimate. Who else is bullish?

Spectrum Pharmaceuticals Inc. [NASDAQ: SPPI] stock went on a downward path that fall over -17.58% on Monday, amounting to a one-week price decrease of less than -24.36%. The company report on December 6, 2022 that Spectrum Pharmaceuticals’ ROLVEDON™ (eflapegrastim-xnst) Injection Added to NCCN Supportive Care Guidelines in Oncology for Hematopoietic Growth Factors.

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Spectrum Pharmaceuticals, Inc. (NasdaqGS: SPPI), a biopharmaceutical company focused on novel and targeted oncology announced today that ROLVEDON (eflapegrastim-xnst) has been added to the latest National Comprehensive Cancer Network® Supportive Care Guidelines (NCCN Guidelines) in oncology for Hematopoietic Growth Factors. The NCCN Guidelines provide recommendations for the appropriate use of growth factors in the clinical management of febrile neutropenia (FN) and now include ROLVEDON as a treatment option under Management of Neutropenia: G-CSFs for Prophylaxis of Febrile Neutropenia and Maintenance of Scheduled Dose Delivery.

“We are pleased with the rapid inclusion of ROLVEDON in the NCCN guidelines as an appropriate option for cancer patients who are at risk for febrile neutropenia.” said Tom Riga, President and Chief Executive Officer of Spectrum Pharmaceuticals. “The NCCN guidelines are a standard resource for determining the best course of treatment and supportive care for people living with cancer. The inclusion in the NCCN guidelines further reinforces the clinical profile of ROLVEDON and is an important milestone for the program.”.

Over the last 12 months, SPPI stock dropped by -77.33%. The one-year Spectrum Pharmaceuticals Inc. stock forecast points to a potential upside of 89.03. The average equity rating for SPPI stock is currently 2.20, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $71.87 million, with 188.36 million shares outstanding and 184.03 million shares in the current float. Compared to the average trading volume of 2.81M shares, SPPI stock reached a trading volume of 5976111 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on 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 $3.10 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 0.04 The Price to Book ratio for the last quarter was 1.79, with the Price to Cash per share for the same quarter was set at 0.47.

SPPI Stock Performance Analysis:

Spectrum Pharmaceuticals Inc. [SPPI] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -24.36. With this latest performance, SPPI shares dropped by -24.46% in over the last four-week period, additionally sinking by -57.17% over the last 6 months – not to mention a drop of -77.33% 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 31.52, with the RSI for the last a single of trading hit 24.69, and the three-weeks RSI is set at 35.27 for Spectrum Pharmaceuticals Inc. [SPPI]. The present Moving Average for the last 50 days of trading for this stock 0.4339, while it was recorded at 0.4199 for the last single week of trading, and 0.8024 for the last 200 days.

Insight into Spectrum Pharmaceuticals Inc. 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 2.10 and a Current Ratio set at 2.30.

Spectrum Pharmaceuticals Inc. [SPPI] Insider Position Details

There are presently around $18 million, or 26.30% of SPPI stock, in the hands of institutional investors. The top three institutional holders of SPPI stocks are: ARMISTICE CAPITAL, LLC with ownership of 16,676,000, which is approximately -2.48% of the company’s market cap and around 1.60% of the total institutional ownership; VANGUARD GROUP INC, holding 8,667,120 shares of the stock with an approximate value of $2.95 million in SPPI stocks shares; and BLACKROCK INC., currently with $2.46 million in SPPI stock with ownership of nearly -8.365% 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 36 institutional holders increased their position in Spectrum Pharmaceuticals Inc. [NASDAQ:SPPI] by around 4,397,355 shares. Additionally, 49 investors decreased positions by around 11,031,277 shares, while 17 investors held positions by with 37,277,112 shares. The mentioned changes placed institutional holdings at 52,705,744 shares, according to the latest SEC report filing. SPPI stock had 18 new institutional investments in for a total of 2,038,201 shares, while 23 institutional investors sold positions of 2,057,232 shares during the same period.


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