B.Riley Financial Reiterates a Buy Rating on Spectrum Pharmaceuticals (SPPI)

By Jason Carr

In a report released today, Mayank Mamtani from B.Riley Financial reiterated a Buy rating on Spectrum Pharmaceuticals (SPPIResearch Report), with a price target of $8.00. The company’s shares closed last Friday at $3.07.

According to TipRanks.com, Mamtani is a 5-star analyst with an average return of 25.6% and a 50.3% success rate. Mamtani covers the Healthcare sector, focusing on stocks such as Arrowhead Pharmaceuticals, Madrigal Pharmaceuticals, and Frequency Therapeutics.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Spectrum Pharmaceuticals with a $10.00 average price target, a 216.5% upside from current levels. In a report issued on March 31, H.C. Wainwright also maintained a Buy rating on the stock with a $12.00 price target.

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Spectrum Pharmaceuticals’ market cap is currently $471.9M and has a P/E ratio of -2.50. The company has a Price to Book ratio of 3.65.

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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.