In a report released today, Edward White from H.C. Wainwright maintained a Buy rating on Spectrum Pharmaceuticals (SPPI – Research Report), with a price target of $10.00. The company’s shares closed last Thursday at $0.85, close to its 52-week low of $0.60.
According to TipRanks.com, White has 0 stars on 0-5 stars ranking scale with an average return of -14.8% and a 27.0% success rate. White covers the Healthcare sector, focusing on stocks such as Karyopharm Therapeutics, TRACON Pharmaceuticals, and Allena Pharmaceuticals.
Currently, the analyst consensus on Spectrum Pharmaceuticals is a Strong Buy with an average price target of $6.67, representing a 685.6% upside. In a report issued on March 8, JMP Securities also reiterated a Buy rating on the stock with a $4.00 price target.
Spectrum Pharmaceuticals’ market cap is currently $149.9M and has a P/E ratio of -0.80.
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Spectrum Pharmaceuticals, Inc. is a biotechnology company, which engages in the acquisition, development, and commercialization of pipeline of late-stage clinical and commercial products. It operates through the following brands: FOLOTYN, ZEVALIN, MARQIBO, BELEODAQ, and EVOMELA. The company was founded in December 1987 and is headquartered in Henderson, NV.
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