Equities research analysts expect that Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI – Get Rating) will announce earnings of ($0.18) per share for the current quarter, according to Zacks Investment Research. Zero analysts have issued estimates for Spectrum Pharmaceuticals’ earnings, with the highest EPS estimate coming in at ($0.18) and the lowest estimate coming in at ($0.19). Spectrum Pharmaceuticals posted earnings per share of ($0.25) during the same quarter last year, which suggests a positive year-over-year growth rate of 28%. The business is expected to announce its next quarterly earnings results on Monday, January 1st.
According to Zacks, analysts expect that Spectrum Pharmaceuticals will report full-year earnings of ($0.62) per share for the current year, with EPS estimates ranging from ($0.74) to ($0.50). For the next year, analysts forecast that the company will report earnings of ($0.11) per share, with EPS estimates ranging from ($0.28) to $0.02. Zacks’ earnings per share calculations are an average based on a survey of sell-side research analysts that cover Spectrum Pharmaceuticals.
Spectrum Pharmaceuticals (NASDAQ:SPPI – Get Rating) last announced its quarterly earnings data on Thursday, March 17th. The biotechnology company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.05). During the same quarter last year, the firm earned ($0.36) earnings per share.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Royal Bank of Canada grew its stake in shares of Spectrum Pharmaceuticals by 76.4% during the 2nd quarter. Royal Bank of Canada now owns 10,592 shares of the biotechnology company’s stock valued at $40,000 after purchasing an additional 4,587 shares during the period. Millennium Management LLC purchased a new stake in Spectrum Pharmaceuticals during the second quarter valued at approximately $180,000. Morgan Stanley raised its position in Spectrum Pharmaceuticals by 105.5% in the second quarter. Morgan Stanley now owns 2,510,343 shares of the biotechnology company’s stock worth $9,413,000 after acquiring an additional 1,289,003 shares during the period. Maryland State Retirement & Pension System purchased a new position in shares of Spectrum Pharmaceuticals during the 3rd quarter worth $143,000. Finally, SG Americas Securities LLC grew its position in shares of Spectrum Pharmaceuticals by 1,382.7% during the 3rd quarter. SG Americas Securities LLC now owns 166,754 shares of the biotechnology company’s stock valued at $364,000 after acquiring an additional 155,507 shares during the period. Institutional investors and hedge funds own 70.27% of the company’s stock.
SPPI traded up $0.01 during midday trading on Friday, reaching $0.89. The company’s stock had a trading volume of 37,728 shares, compared to its average volume of 4,246,407. Spectrum Pharmaceuticals has a 1 year low of $0.60 and a 1 year high of $4.54. The stock’s 50-day moving average is $0.97 and its 200-day moving average is $1.28. The firm has a market capitalization of $157.51 million, a price-to-earnings ratio of -0.84 and a beta of 2.10.
About Spectrum Pharmaceuticals (Get Rating)
Spectrum Pharmaceuticals, Inc, a biopharmaceutical company, develops and commercializes oncology and hematology drug products. The company's products under development include Eflapegrastim, a novel long-acting granulocyte colony-stimulating factor for chemotherapy-induced neutropenia; Poziotinib, a novel irreversible tyrosine kinase inhibitor for non-small cell lung cancer tumors with various mutations; and Anti-CD20-IFNa, an antibody-interferon fusion molecule directed against CD20 that is in Phase I development for the treatment of patients with relapsed or refractory non-Hodgkin's lymphoma, including diffuse large B-cell lymphoma.
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