Spectrum Pharmaceuticals (SPPI) Gets a Buy from JMP Securities

In a report released today, Reni Benjamin from JMP Securities reiterated a Buy rating on Spectrum Pharmaceuticals (SPPIResearch Report), with a price target of $4.00. The company’s shares closed yesterday at $1.26.

According to TipRanks, Benjamin is an analyst with an average return of -8.0% and a 34.87% success rate. Benjamin covers the Healthcare sector, focusing on stocks such as Blueprint Medicines, Incyte, and Iovance Biotherapeutics.

Spectrum Pharmaceuticals has an analyst consensus of Strong Buy, with a price target consensus of $6.67, which is a 429.37% upside from current levels. In a report released yesterday, H.C. Wainwright also reiterated a Buy rating on the stock with a $12.00 price target.

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SPPI market cap is currently $243.7M and has a P/E ratio of -1.80.

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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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