B.Riley FBR Reaffirms Their Buy Rating on Spectrum Pharmaceuticals (SPPI)

By Ryan Adsit

B.Riley FBR analyst Mayank Mamtani reiterated a Buy rating on Spectrum Pharmaceuticals (SPPIResearch Report) today and set a price target of $8.00. The company’s shares closed last Monday at $3.29.

According to TipRanks.com, Mamtani is a 5-star analyst with an average return of 20.1% and a 53.2% success rate. Mamtani covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals, Arrowhead Pharmaceuticals, and Madrigal Pharmaceuticals.

Spectrum Pharmaceuticals has an analyst consensus of Moderate Buy, with a price target consensus of $9.50.

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The company has a one-year high of $10.57 and a one-year low of $1.74. Currently, Spectrum Pharmaceuticals has an average volume of 1.23M.

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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.