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Weak Fundamental Momentum Sinks Spectrum Pharmaceuticals Inc.

Spectrum Pharmaceuticals Inc. (NASDAQ:SPPI) has a beta value of 2.05 and has seen 1.23 million shares traded in the last trading session. The company, currently valued at $106.21M, closed the last trade at $0.56 per share which meant it lost -$0.02 on the day or -3.45% during that session. The SPPI stock price is -180.36% off its 52-week high price of $1.57 and 44.64% above the 52-week low of $0.31. If we look at the company’s 10-day average daily trading volume, we find that it stood at 1.33 million shares traded. The 3-month trading volume is 1.84 million shares.

The consensus among analysts is that Spectrum Pharmaceuticals Inc. (SPPI) is an Overweight stock at the moment, with a recommendation rating of 2.20. 0 analysts rate the stock as a Sell, while 0 rate it as Overweight. 1 out of 4 have rated it as a Hold, with 3 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is -$0.15.

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Spectrum Pharmaceuticals Inc. (NASDAQ:SPPI) trade information

Sporting -3.45% in the red in last session, the stock has traded in the red over the last five days, with the highest price hit on Monday, 01/23/23 when the SPPI stock price touched $0.56 or saw a rise of 12.5%. Year-to-date, Spectrum Pharmaceuticals Inc. shares have moved 51.97%, while the 5-day performance has seen it change -6.51%. Over the past 30 days, the shares of Spectrum Pharmaceuticals Inc. (NASDAQ:SPPI) have changed 65.98%. Short interest in the company has seen 6.75 million shares shorted with days to cover at 1.39.

Wall Street analysts have a consensus price target for the stock at $3.13, which means that the shares’ value could jump 82.11% from current levels. The projected low price target is $1.00 while the price target rests at a high of $4.00. In that case, then, we find that the current price level is -614.29% off the targeted high while a plunge would see the stock gain -78.57% from current levels.

Spectrum Pharmaceuticals Inc. (SPPI) estimates and forecasts

Figures show that Spectrum Pharmaceuticals Inc. shares have outperformed across the wider relevant industry. The company’s shares have lost -34.88% over the past 6 months, with this year growth rate of 52.94%, compared to 11.30% for the industry. Other than that, the company has, however, increased its growth outlook for the 2023 fiscal year revenue. Growth estimates for the current quarter are 28.60% and 38.50% for the next quarter.

4 have an estimated revenue figure of $3.43 million for the next quarter concluding in Dec 2022.

If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was -1.30% over the past 5 years.

SPPI Dividends

Spectrum Pharmaceuticals Inc. is expected to release its next earnings report between March 15 and March 20 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.

Spectrum Pharmaceuticals Inc. (NASDAQ:SPPI)’s Major holders

Insiders own 10.14% of the company shares, while shares held by institutions stand at 31.69% with a share float percentage of 35.27%. Investors are also buoyed by the number of investors in a company, with Spectrum Pharmaceuticals Inc. having a total of 124 institutions that hold shares in the company. The top two institutional holders are Armistice Capital, LLC with over 17.1 million shares worth more than $13.34 million. As of Jun 29, 2022, Armistice Capital, LLC held 9.09% of shares outstanding.

The other major institutional holder is Vanguard Group, Inc. (The), with the holding of over 8.83 million shares as of Jun 29, 2022. The firm’s total holdings are worth over $6.89 million and represent 4.69% of shares outstanding.

Also the top two Mutual Funds that are holding company’s shares are Vanguard Total Stock Market Index Fund and Vanguard Extended Market Index Fund. As of Jun 29, 2022, the former fund manager holds about 2.84% shares in the company for having 5.35 million shares of worth $4.17 million while later fund manager owns 2.19 million shares of worth $1.71 million as of Jun 29, 2022, which makes it owner of about 1.16% of company’s outstanding stock.

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