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Spectrum Pharmaceuticals (SPPI) Receives a Buy from B.Riley Financial

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B.Riley Financial analyst Mayank Mamtani maintained a Buy rating on Spectrum Pharmaceuticals (SPPIResearch Report) today and set a price target of $6.00. The company’s shares closed last Friday at $0.72, close to its 52-week low of $0.60.

According to TipRanks.com, Mamtani ‘s ranking currently consits of 0 on a 0-5 ranking scale, with an average return of -18.7% and a 29.8% success rate. Mamtani covers the Healthcare sector, focusing on stocks such as Arrowhead Pharmaceuticals, Madrigal Pharmaceuticals, and Cognition Therapeutics.

Currently, the analyst consensus on Spectrum Pharmaceuticals is a Strong Buy with an average price target of $6.67.

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Based on Spectrum Pharmaceuticals’ latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $33.08 million. In comparison, last year the company had a GAAP net loss of $48.45 million.

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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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