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Why Spectrum Pharmaceuticals Inc. (NASDAQ: SPPI) Is Worth A Spot On Your Watchlist

Spectrum Pharmaceuticals Inc. (NASDAQ:SPPI)’s traded shares stood at 1.7 million during the last session, with the company’s beta value hitting 2.20. At the close of trading, the stock’s price was $0.77, to imply a decrease of -6.64% or -$0.06 in intraday trading. The SPPI share’s 52-week high remains $1.57, putting it -103.9% down since that peak but still an impressive 59.74% since price per share fell to its 52-week low of $0.31. The company has a valuation of $169.23M, with an average of 1.58 million shares in intraday trading volume over the past 10 days and average of 1.97 million shares over the past 3 months.

Analysts have given a consensus recommendation of an Overweight for Spectrum Pharmaceuticals Inc. (SPPI), translating to a mean rating of 2.20. Of 5 analyst(s) looking at the stock, 0 analyst(s) give SPPI a Sell rating. 0 of those analysts rate the stock as Overweight while 2 advise Hold as 3 recommend it as a Buy. 0 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at -$0.11.

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Spectrum Pharmaceuticals Inc. (NASDAQ:SPPI) trade information

After registering a -6.64% downside in the last session, Spectrum Pharmaceuticals Inc. (SPPI) has traded red over the past five days. The stock hit a weekly high of 0.8895 this Wednesday, 03/15/23, dropping -6.64% in its intraday price action. The 5-day price performance for the stock is -12.08%, and -15.77% over 30 days. With these gigs, the year-to-date price performance is 110.28%. Short interest in Spectrum Pharmaceuticals Inc. (NASDAQ:SPPI) saw shorts transact 4.57 million shares and set a 1.72 days time to cover.

Analysts on Wall Street suggest a consensus price target of $2.65, implying an increase of 70.94% to the stock’s current value. The extremes give us $0.75 and $4.00 for target low and target high price respectively. As such, SPPI has been trading -419.48% off suggested target high and 2.6% from its likely low.

Spectrum Pharmaceuticals Inc. (SPPI) estimates and forecasts

Looking at statistics comparing Spectrum Pharmaceuticals Inc. share performance against respective industry, we note that the company has outperformed competitors. Spectrum Pharmaceuticals Inc. (SPPI) shares are -38.50% down over the last 6 months, with its year-to-date growth rate higher than industry average at 54.90% against 11.00%. Revenue is forecast to grow 57.70% this quarter before jumping 22.20% for the next one.

Revenue forecast for the current quarter as set by 5 analysts is $8.92 million. Meanwhile, for the quarter ending Mar 2023, a total of 4 analyst(s) estimate revenue growth to $10.96 million.

SPPI Dividends

Spectrum Pharmaceuticals Inc. has its next earnings report out between May 10 and May 15. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. Spectrum Pharmaceuticals Inc. has a forward dividend ratio of 0, with the share yield ticking at 0.00% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 0.00%.

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

Spectrum Pharmaceuticals Inc. insiders hold 9.82% of total outstanding shares, with institutional holders owning 22.99% of the shares at 25.49% float percentage. In total, 22.99% institutions holds shares in the company, led by Armistice Capital, LLC. As of Dec 30, 2022, the company held over 17.0 million shares (or 9.03% of shares), all amounting to roughly $13.17 million.

The next major institution holding the largest number of shares is Vanguard Group, Inc. (The) with 8.4 million shares, or about 4.46% of shares outstanding. As of the market price on Dec 30, 2022, these shares were worth $6.51 million.

We also have Vanguard Total Stock Market Index Fund and Vanguard Extended Market Index Fund as the top two Mutual Funds with the largest holdings of the Spectrum Pharmaceuticals Inc. (SPPI) shares. Going by data provided on Sep 29, 2022, Vanguard Total Stock Market Index Fund holds roughly 5.35 million shares. This is just over 2.84% of the total shares, with a market valuation of $4.14 million. Data from the same date shows that the other fund manager holds a little less at 2.28 million, or 1.21% of the shares, all valued at about 1.77 million.

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