SPPI (Spectrum Pharmaceuticals Inc.) stock is in for a key growth catalyst

In the latest session, Spectrum Pharmaceuticals Inc. (NASDAQ: SPPI) closed at $0.83 up 4.77% from its previous closing price of $0.79. In other words, the price has increased by $+0.0378 from its previous closing price. On the day, 956971 shares were traded. SPPI stock price reached its highest trading level at $0.8694 during the session, while it also had its lowest trading level at $0.7900.

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For a deeper understanding of Spectrum Pharmaceuticals Inc.’s stock, let’s take a closer look at its various ratios. For the most recent quarter (mrq), Quick Ratio is recorded 2.10 and its Current Ratio is at 2.30. In the meantime, Its Debt-to-Equity ratio is 0.79 whereas as Long-Term Debt/Eq ratio is at 0.79.

Upgrades & Downgrades

In addition, analysts’ ratings and any changes thereto give investors an idea of the stock’s future direction. In the most recent recommendation for this company, JMP Securities on September 17, 2020, initiated with a Mkt Outperform rating and assigned the stock a target price of $12.

Cantor Fitzgerald Downgraded its Overweight to Neutral on December 26, 2019, whereas the target price for the stock was revised from $17 to $4.

Insider Transactions:

Additionally, insider trades can be beneficial to investors who want to learn what the management thinks about stock prices in the future. A recent insider transaction in this stock occurred on Feb 23 when McGahan Keith M sold 18,385 shares for $0.77 per share. The transaction valued at 14,156 led to the insider holds 618,312 shares of the business.

Riga Thomas J sold 37,009 shares of SPPI for $28,365 on Feb 22. The CEO & President now owns 1,839,639 shares after completing the transaction at $0.77 per share. On Feb 22, another insider, McGahan Keith M, who serves as the Chief Legal Officer of the company, sold 11,990 shares for $0.76 each. As a result, the insider received 9,124 and left with 636,697 shares of the company.

Stock Price History:

Over the past 52 weeks, SPPI has reached a high of $1.57, while it has fallen to a 52-week low of $0.31. The 50-Day Moving Average of the stock is 0.7188, while the 200-Day Moving Average is calculated to be 0.7210.

Shares Statistics:

For the past three months, SPPI has traded an average of 1.97M shares per day and 1.53M over the past ten days. A total of 188.36M shares are outstanding, with a floating share count of 184.03M. Insiders hold about 1.60% of the company’s shares, while institutions hold 26.30% stake in the company. Shares short for SPPI as of Jan 12, 2023 were 5.13M with a Short Ratio of 4.57M, compared to 6.95M on Dec 14, 2022. Therefore, it implies a Short% of Shares Outstanding of 2.52% and a Short% of Float of 2.54%.

Earnings Estimates

There are 5 different market analysts currently analyzing its stock. On average, analysts expect EPS of -$0.11 for the current quarter, with a high estimate of -$0.05 and a low estimate of -$0.14, while EPS last year was -$0.26. The consensus estimate for the next quarter is -$0.07, with high estimates of -$0.03 and low estimates of -$0.09.

Analysts are recommending an EPS of between -$0.42 and -$0.51 for the fiscal current year, implying an average EPS of -$0.47. EPS for the following year is -$0.21, with 5 analysts recommending between -$0.02 and -$0.33.

Revenue Estimates

Based on 5 analysts’ estimates, the company’s revenue will be $55.87M in the next fiscal year. The high estimate is $70M and the low estimate is $45.34M. The average revenue growth estimate for next year is up 526.30% from the average revenue estimate for this year.