Mackay Shields LLC raised its stake in Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) by 16.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 144,099 shares of the biotechnology company’s stock after acquiring an additional 20,500 shares during the quarter. Mackay Shields LLC owned about 0.13% of Spectrum Pharmaceuticals worth $1,196,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently bought and sold shares of SPPI. Oregon Public Employees Retirement Fund increased its position in Spectrum Pharmaceuticals by 6.6% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 41,934 shares of the biotechnology company’s stock valued at $361,000 after acquiring an additional 2,597 shares in the last quarter. CWM Advisors LLC increased its position in Spectrum Pharmaceuticals by 28.6% in the 2nd quarter. CWM Advisors LLC now owns 20,605 shares of the biotechnology company’s stock valued at $177,000 after acquiring an additional 4,580 shares in the last quarter. Arizona State Retirement System increased its position in Spectrum Pharmaceuticals by 1.4% in the 2nd quarter. Arizona State Retirement System now owns 164,995 shares of the biotechnology company’s stock valued at $1,421,000 after acquiring an additional 2,251 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. increased its position in Spectrum Pharmaceuticals by 73.0% in the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 36,590 shares of the biotechnology company’s stock valued at $315,000 after acquiring an additional 15,440 shares in the last quarter. Finally, Fisher Asset Management LLC increased its position in Spectrum Pharmaceuticals by 11.4% in the 2nd quarter. Fisher Asset Management LLC now owns 201,264 shares of the biotechnology company’s stock valued at $1,733,000 after acquiring an additional 20,601 shares in the last quarter. Hedge funds and other institutional investors own 73.43% of the company’s stock.
In related news, insider Francois Lebel sold 6,963 shares of Spectrum Pharmaceuticals stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $8.16, for a total transaction of $56,818.08. Following the transaction, the insider now owns 113,970 shares of the company’s stock, valued at approximately $929,995.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 9.35% of the stock is owned by company insiders.
Several equities research analysts have recently commented on SPPI shares. ValuEngine cut shares of Spectrum Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Thursday. HC Wainwright reiterated a “buy” rating on shares of Spectrum Pharmaceuticals in a research report on Friday, October 25th. BidaskClub cut shares of Spectrum Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Thursday, October 10th. Zacks Investment Research upgraded shares of Spectrum Pharmaceuticals from a “hold” rating to a “buy” rating and set a $8.50 price target for the company in a research report on Thursday, October 17th. Finally, B. Riley set a $18.00 price target on shares of Spectrum Pharmaceuticals and gave the stock a “buy” rating in a research report on Friday, August 23rd. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company’s stock. Spectrum Pharmaceuticals has a consensus rating of “Buy” and a consensus price target of $20.92.
Shares of NASDAQ:SPPI opened at $8.30 on Friday. Spectrum Pharmaceuticals, Inc. has a one year low of $6.22 and a one year high of $14.65. The company has a 50 day moving average of $8.04 and a 200-day moving average of $8.15.
Spectrum Pharmaceuticals (NASDAQ:SPPI) last issued its quarterly earnings results on Thursday, November 7th. The biotechnology company reported ($0.23) EPS for the quarter, topping the consensus estimate of ($0.31) by $0.08. During the same quarter last year, the firm posted ($0.24) EPS. As a group, equities research analysts forecast that Spectrum Pharmaceuticals, Inc. will post -1.09 earnings per share for the current fiscal year.
Spectrum Pharmaceuticals Profile
Spectrum Pharmaceuticals, Inc develops and commercializes oncology and hematology drug products. The company offers KHAPZORY, a novel folate analog and the pharmacologically active levo-isomer of d, and 1-leucovorin; FOLOTYN, a folate analogue metabolic inhibitor for peripheral T-cell lymphoma (PTCL); ZEVALIN injection to treat non-Hodgkin’s lymphoma; MARQIBO for adult patients with Philadelphia chromosome-negative acute lymphoblastic leukemia; BELEODAQ, a histone deacytelase, or HDAC, inhibitor for the treatment of patients with relapsed or refractory PTCL; and EVOMELA for use as a conditioning treatment prior to autologous stem cell transplant in multiple myeloma patients.
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