The stock of Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) is a huge mover today! The stock decreased 6.54% or $0.37 on December 11, hitting $5.29. About 772,320 shares traded hands. Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) has declined 12.71% since May 11, 2015 and is downtrending. It has underperformed by 8.29% the S&P500.
The move comes after 7 months negative chart setup for the $381.14 million company. It was reported on Dec, 12 by Barchart.com. We have $4.71 PT which if reached, will make NASDAQ:SPPI worth $41.93 million less.
According to Zacks Investment Research, “Spectrum Pharmaceuticals, Inc. is opportunistically acquiring and advancing a diversified portfolio of oncology drug candidates that meet critical health challenges for which there are few other treatment options. Spectrum’s expertise lies in identifying undervalued drugs with demonstrated safety and efficacy, and adding value through further clinical development and selection of the most viable and low-risk methods of commercialization. The company’s pipeline includes promising early and late-stage drug candidates with unique formulations and mechanisms of action that address the needs of seriously ill patients, such as at-home chemotherapy and new treatment regimens for refractory disease.” Get a free copy of the Zacks research report on Spectrum Pharmaceuticals, Inc. (SPPI).
The institutional sentiment increased to 1.43 in Q3 2015. Its up 0.25, from 1.18 in 2015Q2. The ratio is positive, as 10 funds sold all Spectrum Pharmaceuticals, Inc. shares owned while 41 reduced positions. 27 funds bought stakes while 46 increased positions. They now own 48.16 million shares or 12.44% less from 55.01 million shares in 2015Q2.
Krensavage Asset Management Llc holds 2.33% of its portfolio in Spectrum Pharmaceuticals, Inc. for 1.08 million shares. Venbio Select Advisor Llc owns 1.32 million shares or 2.05% of their US portfolio. Moreover, Ashford Capital Management Inc has 1.72% invested in the company for 1.22 million shares. The New York-based Broadfin Capital Llc has invested 0.84% in the stock. Bard Associates Inc, a Illinois-based fund reported 184,210 shares.
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