Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) CEO Joseph W. Turgeon sold 36,311 shares of Spectrum Pharmaceuticals stock in a transaction dated Friday, January 11th. The shares were sold at an average price of $10.87, for a total transaction of $394,700.57. Following the sale, the chief executive officer now owns 449,943 shares in the company, valued at $4,890,880.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
NASDAQ:SPPI opened at $11.06 on Monday. The stock has a market cap of $1.10 billion, a P/E ratio of -10.34 and a beta of 2.56. Spectrum Pharmaceuticals, Inc. has a 52-week low of $6.22 and a 52-week high of $25.29.
Spectrum Pharmaceuticals (NASDAQ:SPPI) last released its earnings results on Thursday, November 8th. The biotechnology company reported ($0.17) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.10. The firm had revenue of $25.27 million for the quarter, compared to analyst estimates of $25.73 million. Spectrum Pharmaceuticals had a negative return on equity of 27.72% and a negative net margin of 91.56%. Spectrum Pharmaceuticals’s revenue was down 30.6% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.11) earnings per share. Analysts anticipate that Spectrum Pharmaceuticals, Inc. will post -0.9 EPS for the current year.
Large investors have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue increased its stake in Spectrum Pharmaceuticals by 4.9% in the 4th quarter. State of Alaska Department of Revenue now owns 33,958 shares of the biotechnology company’s stock worth $297,000 after purchasing an additional 1,595 shares in the last quarter. Vanguard Group Inc increased its stake in Spectrum Pharmaceuticals by 6.2% in the 3rd quarter. Vanguard Group Inc now owns 10,910,048 shares of the biotechnology company’s stock worth $183,289,000 after purchasing an additional 639,075 shares in the last quarter. Marshall Wace LLP purchased a new position in Spectrum Pharmaceuticals in the 3rd quarter worth about $2,002,000. Vanguard Group Inc. increased its stake in Spectrum Pharmaceuticals by 6.2% in the 3rd quarter. Vanguard Group Inc. now owns 10,910,048 shares of the biotechnology company’s stock worth $183,289,000 after purchasing an additional 639,075 shares in the last quarter. Finally, Legal & General Group Plc increased its stake in Spectrum Pharmaceuticals by 14.7% in the 3rd quarter. Legal & General Group Plc now owns 239,136 shares of the biotechnology company’s stock worth $4,002,000 after purchasing an additional 30,667 shares in the last quarter. 82.11% of the stock is currently owned by hedge funds and other institutional investors.
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About Spectrum Pharmaceuticals
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.
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