Spectrum Pharmaceuticals (SPPI) Gets a Buy Rating from H.C. Wainwright

By Austin Angelo

H.C. Wainwright analyst Edward White reiterated a Buy rating on Spectrum Pharmaceuticals (SPPIResearch Report) today and set a price target of $13.00. The company’s shares closed last Monday at $2.95, close to its 52-week low of $1.74.

According to TipRanks.com, White is a 5-star analyst with an average return of 22.8% and a 49.6% success rate. White covers the Healthcare sector, focusing on stocks such as Karyopharm Therapeutics, TRACON Pharmaceuticals, and Syndax Pharmaceuticals.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Spectrum Pharmaceuticals with a $9.33 average price target, implying a 207.9% upside from current levels. In a report issued on July 28, B.Riley FBR also reiterated a Buy rating on the stock with a $8.00 price target.

See today’s analyst top recommended stocks >>

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 2.01M.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.