In the latest trading session, 0.6 million Spectrum Pharmaceuticals Inc. (NASDAQ:SPPI) shares changed hands as the company’s beta touched 2.19. With the company’s most recent per share price at $4.18 changed hands at -$0.09 or -2.11% at last look, the market valuation stands at $701.01M. SPPI’s current price is a discount, trading about -25.36% off its 52-week high of $5.24. The share price had its 52-week low at $2.82, which suggests the last value was 32.54% up since then. When we look at Spectrum Pharmaceuticals Inc.’s average trading volume, we note the 10-day average is 3.41 million shares, with the 3-month average coming to 2.68 million.
Analysts gave the Spectrum Pharmaceuticals Inc. (SPPI) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.20. If we narrow down to specifics, the data shows that 0 out of 6 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 2 recommended SPPI as a Hold, 4 felt it is a Buy and 0 rated the stock as Underweight. Spectrum Pharmaceuticals Inc.’s EPS for the current quarter is expected to be -$0.25.
Spectrum Pharmaceuticals Inc. (NASDAQ:SPPI) trade information
Instantly SPPI was in red as seen in intraday trades today. With action -4.04%, the performance over the past five days has been red. The drop to weekly highs of 4.43 on Friday, 06/18/21 subtracted -2.11% to the stock’s daily price. The company’s shares are showing year-to-date upside of 25.22%, with the 5-day performance at -4.04% in the red. However, in the 30-day time frame, Spectrum Pharmaceuticals Inc. (NASDAQ:SPPI) is 28.23% up. Looking at the short shares, we see there were 15.63 million shares sold at short interest cover period of 6.36 days.
The consensus price target for the stock as assigned by Wall Street analysts is $9.80, meaning bulls need an upside of 57.35% from its recent market value. According to analyst projections, SPPI’s forecast low is $5.00 with $12.00 as the target high. To hit the forecast high, the stock’s price needs a -187.08% plunge from its current level, while the stock would need to soar -19.62% for it to hit the projected low.
Spectrum Pharmaceuticals Inc. (SPPI) estimates and forecasts
Data shows that the Spectrum Pharmaceuticals Inc. share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -8.27% over the past 6 months, a 26.81% in annual growth rate that is considerably higher than the industry average of 16.40%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2021 revenue estimates. The rating firms predict current quarter revenue for Spectrum Pharmaceuticals Inc. will rise 10.70%, while the growth in revenue is estimated to hit 35.10% for the next quarter.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -11.20%. The 2021 estimates are for Spectrum Pharmaceuticals Inc. earnings to decrease by -12.50%.
Spectrum Pharmaceuticals Inc. (NASDAQ:SPPI)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 1.52% of Spectrum Pharmaceuticals Inc. shares while 64.61% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 65.61%. There are 64.61% institutions holding the Spectrum Pharmaceuticals Inc. stock share, with Blackrock Inc. the top institutional holder. As of Mar 30, 2021, the company held 17.44% of the shares, roughly 28.17 million SPPI shares worth $91.85 million.
State Street Corporation holds the second largest percentage of outstanding shares, with 8.13% or 13.13 million shares worth $42.79 million as of Mar 30, 2021.
Among Mutual Funds, the top two as of Mar 30, 2021 were iShares Core S&P Smallcap ETF and SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF. With 9.73 million shares estimated at $31.73 million under it, the former controlled 6.03% of total outstanding shares. On the other hand, SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF held about 5.58% of the shares, roughly 9.02 million shares worth around $28.05 million.