Equities analysts forecast that Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) will report $25.97 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Spectrum Pharmaceuticals’ earnings, with the highest sales estimate coming in at $27.20 million and the lowest estimate coming in at $24.70 million. Spectrum Pharmaceuticals posted sales of $28.57 million during the same quarter last year, which suggests a negative year-over-year growth rate of 9.1%. The company is scheduled to issue its next earnings results on Tuesday, March 5th.
According to Zacks, analysts expect that Spectrum Pharmaceuticals will report full-year sales of $104.13 million for the current year, with estimates ranging from $102.60 million to $105.80 million. For the next fiscal year, analysts anticipate that the company will report sales of $115.77 million, with estimates ranging from $103.50 million to $123.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for Spectrum Pharmaceuticals.
Spectrum Pharmaceuticals (NASDAQ:SPPI) last released its quarterly earnings results on Thursday, November 8th. The biotechnology company reported ($0.17) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.27) by $0.10. Spectrum Pharmaceuticals had a negative return on equity of 27.72% and a negative net margin of 91.56%. The company had revenue of $25.27 million for the quarter, compared to analyst estimates of $25.73 million. During the same quarter in the prior year, the firm posted ($0.11) EPS. Spectrum Pharmaceuticals’s quarterly revenue was down 30.6% compared to the same quarter last year.
In other news, CFO Kurt A. Gustafson sold 33,692 shares of the firm’s stock in a transaction on Friday, January 11th. The stock was sold at an average price of $10.87, for a total transaction of $366,232.04. Following the transaction, the chief financial officer now owns 253,795 shares in the company, valued at $2,758,751.65. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Anthony E. Maida III sold 7,250 shares of the firm’s stock in a transaction on Thursday, November 8th. The shares were sold at an average price of $13.07, for a total value of $94,757.50. Following the transaction, the director now owns 40,238 shares in the company, valued at approximately $525,910.66. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 91,753 shares of company stock worth $1,019,540. Insiders own 9.35% of the company’s stock.
A number of hedge funds have recently modified their holdings of the stock. BlackRock Inc. boosted its position in Spectrum Pharmaceuticals by 7.8% during the third quarter. BlackRock Inc. now owns 17,820,045 shares of the biotechnology company’s stock valued at $299,375,000 after purchasing an additional 1,292,819 shares in the last quarter. Primecap Management Co. CA boosted its position in Spectrum Pharmaceuticals by 10.2% during the third quarter. Primecap Management Co. CA now owns 11,160,000 shares of the biotechnology company’s stock valued at $187,488,000 after purchasing an additional 1,034,000 shares in the last quarter. Vanguard Group Inc boosted its position in Spectrum Pharmaceuticals by 6.2% during the third quarter. Vanguard Group Inc now owns 10,910,048 shares of the biotechnology company’s stock valued at $183,289,000 after purchasing an additional 639,075 shares in the last quarter. Vanguard Group Inc. boosted its position in Spectrum Pharmaceuticals by 6.2% during the third quarter. Vanguard Group Inc. now owns 10,910,048 shares of the biotechnology company’s stock valued at $183,289,000 after purchasing an additional 639,075 shares in the last quarter. Finally, Northern Trust Corp boosted its position in Spectrum Pharmaceuticals by 17.2% during the second quarter. Northern Trust Corp now owns 1,263,899 shares of the biotechnology company’s stock valued at $26,492,000 after purchasing an additional 185,849 shares in the last quarter. 82.11% of the stock is currently owned by institutional investors.
NASDAQ:SPPI opened at $11.06 on Friday. Spectrum Pharmaceuticals has a fifty-two week low of $6.22 and a fifty-two week high of $25.29. The firm has a market cap of $1.10 billion, a P/E ratio of -10.34 and a beta of 2.56.
Spectrum Pharmaceuticals Company Profile
Spectrum Pharmaceuticals, Inc develops and commercializes oncology and hematology drug products. The company markets six drug products, including FUSILEV for patients with metastatic colorectal cancer and rescue after high-dose methotrexate therapy in osteosarcoma, and to diminish toxicity and counteract the effects of impaired methotrexate elimination and of inadvertent overdosage of folic acid antagonists; FOLOTYN, a folate analogue metabolic inhibitor for peripheral T-cell lymphoma (PTCL); ZEVALIN injection for patients with B-cell non-Hodgkin's lymphoma; MARQIBO, a sphingomyelin/cholesterol liposome-encapsulated formulation for adult patients with Philadelphia chromosome-negative acute lymphoblastic leukemia; BELEODAQ injection for PTCL; and EVOMELA for use as a conditioning treatment prior to autologous stem cell transplant in multiple myeloma patients.
Recommended Story: Float
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Spectrum Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spectrum Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.