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Spectrum Pharmaceuticals Inc. (SPPI)’s Stock Price Falls Due To Weak Fundamental Momentum

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Spectrum Pharmaceuticals Inc. (NASDAQ:SPPI) has a beta value of 1.83 and has seen 1.29 million shares traded in the recent trading session. The company, currently valued at $200.00M, closed the recent trade at $1.13 per share which meant it lost -$0.03 on the day or -2.16% during that session. The SPPI stock price is -301.77% off its 52-week high price of $4.54 and -1.77% below the 52-week low of $1.15. If we look at the company’s 10-day average daily trading volume, we find that it stood at 6.47 million shares traded. The 3-month trading volume is 4.61 million shares.

The consensus among analysts is that Spectrum Pharmaceuticals Inc. (SPPI) is a Buy 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 5 have rated it as a Hold, with 4 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is -$0.22.

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Sporting -2.16% in the red today, the stock has traded in the red over the last five days, with the highest price hit on Friday, 01/07/22 when the SPPI stock price touched $1.13 or saw a rise of 28.48%. Year-to-date, Spectrum Pharmaceuticals Inc. shares have moved -8.66%, while the 5-day performance has seen it change -8.66%. Over the past 30 days, the shares of Spectrum Pharmaceuticals Inc. (NASDAQ:SPPI) have changed -25.16%. Short interest in the company has seen 23.28 million shares shorted with days to cover at 4.09.

Wall Street analysts have a consensus price target for the stock at $6.20, which means that the shares’ value could jump 81.77% from the levels at last check today. The projected low price target is $3.00 while the price target rests at a high of $10.00. In that case, then, we find that the latest price level in today’s session is -784.96% off the targeted high while a plunge would see the stock gain -165.49% from the levels at last check today.

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 -66.67% over the past 6 months, with this year growth rate of 28.26%, compared to 16.80% for the industry. Other than that, the company has, however, increased its growth outlook for the 2022 fiscal year revenue. Growth estimates for the current quarter are 24.10% and 24.00% for the next quarter.

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 -11.20% over the past 5 years.

SPPI Dividends

Spectrum Pharmaceuticals Inc. is expected to release its next earnings report between March 28 and April 01 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 1.52% of the company shares, while shares held by institutions stand at 65.72% with a share float percentage of 66.73%. Investors are also buoyed by the number of investors in a company, with Spectrum Pharmaceuticals Inc. having a total of 217 institutions that hold shares in the company. The top two institutional holders are Blackrock Inc. with over 30.53 million shares worth more than $66.56 million. As of Sep 29, 2021, Blackrock Inc. held 18.62% of shares outstanding.

The other major institutional holder is State Street Corporation, with the holding of over 17.14 million shares as of Sep 29, 2021. The firm’s total holdings are worth over $37.36 million and represent 10.45% of shares outstanding.

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Also the top two Mutual Funds that are holding company’s shares are SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF and iShares Core S&P Smallcap ETF. As of Sep 29, 2021, the former fund manager holds about 7.41% shares in the company for having 12.15 million shares of worth $26.48 million while later fund manager owns 11.13 million shares of worth $20.38 million as of Oct 30, 2021, which makes it owner of about 6.79% of company’s outstanding stock.