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Spectrum Pharmaceuticals Inc. (SPPI) – Don’t Be So Quick to Call it Dead

238 institutions hold shares in Spectrum Pharmaceuticals Inc. (SPPI), with 2.45M shares held by insiders accounting for 1.64% while institutional investors hold 69.31% of the company’s shares. The shares outstanding are 141.55M, and float is at 136.71M with Short Float at 8.99%. Institutions hold 68.17% of the Float.

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The top institutional shareholder in the company is Blackrock Inc. with over 27.82 million shares valued at $94.87 million. The investor’s holdings represent 19.07% of the SPPI Shares outstanding. As of Dec 30, 2020, the second largest holder is Vanguard Group, Inc. (The) with 12.1 million shares valued at $41.26 million to account for 8.29% of the shares outstanding. The other top investors are State Street Corporation which holds 10.59 million shares representing 7.26% and valued at over $36.1 million, while Armistice Capital, LLC holds 6.57% of the shares totaling 9.59 million with a market value of $32.71 million.

Spectrum Pharmaceuticals Inc. (NASDAQ: SPPI) is -5.57% lower on its value in year-to-date trading and has touched a low of $2.09 and a high of $5.24 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The SPPI stock was last observed hovering at around $3.31 in the last trading session, with the day’s loss setting it -0.09% off its average median price target of $12.00 for the next 12 months. It is also 77.0% off the consensus price target high of $14.00 offered by 6 analysts, but current levels are 35.6% higher than the price target low of $5.00 for the same period.

Currently trading at $3.22, the stock is -3.72% and -9.30% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.66 million and changing -2.72% at the moment leaves the stock -15.30% off its SMA200. SPPI registered 45.05% gain for a year compared to 6-month loss of -22.78%. The firm has a 50-day simple moving average (SMA 50) of $3.4297 and a 200-day simple moving average (SMA200) of $3.8897.

The stock witnessed a 0.63% gain in the last 1 month and extending the period to 3 months gives it a -5.57%, and is 2.22% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 6.69% over the week and 7.30% over the month.

Distance from 52-week low is 54.44% and -38.55% from its 52-week high.

Spectrum Pharmaceuticals Inc. (SPPI) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Spectrum Pharmaceuticals Inc. (SPPI) is a “Overweight”. 6 analysts offering their recommendations for the stock have an average rating of 2.20, where 2 rate it as a Hold and 0 think it is a “Overweight”. 4 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

Spectrum Pharmaceuticals Inc. is expected to release its quarterly report on 08/12/2021 and quarterly earnings per share for the current quarter are estimated at -$0.3.The EPS is expected to shrink by -12.50% this year

Spectrum Pharmaceuticals Inc. (SPPI) Insider Activity

A total of 43 insider transactions have happened at Spectrum Pharmaceuticals Inc. (SPPI) in the last six months, with sales accounting for 34 and purchases happening 9 times. The most recent transaction is an insider sale by LEBEL FRANCOIS, the company’s Chief Medical Officer. SEC filings show that LEBEL FRANCOIS sold 18,828 shares of the company’s common stock on Mar 16 at a price of $3.69 per share for a total of $69475.0. Following the sale, the insider now owns 0.35 million shares.

Spectrum Pharmaceuticals Inc. disclosed in a document filed with the SEC on Mar 16 that GUSTAFSON KURT A (EVP & Chief Financial Officer) sold a total of 16,318 shares of the company’s common stock. The trade occurred on Mar 16 and was made at $3.69 per share for $60213.0. Following the transaction, the insider now directly holds 0.4 million shares of the SPPI stock.

Still, SEC filings show that on Mar 16, McGahan Keith M (Chief Legal Officer) disposed off 16,318 shares at an average price of $3.69 for $60213.0. The insider now directly holds 316,832 shares of Spectrum Pharmaceuticals Inc. (SPPI).

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Spectrum Pharmaceuticals Inc. (SPPI): Who are the competitors?

The company’s main competitors (and peers) include Biogen Inc. (BIIB) that is trading -5.25% down over the past 12 months and Johnson & Johnson (JNJ) that is 22.74% higher over the same period. Bristol-Myers Squibb Company (BMY) is 14.40% up on the 1-year trading charts. Short interest in the company’s stock has risen 24.17% from the last report on Feb 11, 2021 to stand at a total of 9.32 million short shares sold with a short interest ratio of 3.77.

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