Auriga Raises Price Target on Spectrum Pharmaceuticals to $18

According to Auriga, Spectrum Pharmaceuticals

price target is raised to $18. Auriga said that it believes in the near term, the shares still have momentum to move up due to the favorable impacts of generic leucovorin shortage on Fusilev. “We revised our revenue projection for Q4/2011 and full year 2012 upwards. Current valuation assumes no upside from Apaziquone. However, if the Phase III results are positive, we expect to see additional upside.” Spectrum Pharmaceuticals closed on Friday at $15.17.