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UPDATE: Dawson James Initiates Spectrum Pharmaceuticals at Market Outperform on Share Weakness

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H.C. Wainwright & Co. Sees Significant Upside Ahead For Spectrum Pharmaceuticals

Dawson James initiated coverage on Spectrum Pharmaceuticals (NASDAQ: SPPI) with a Market Outperform rating and a $15 price target.

Dawson James noted, "Spectrum is a mid-cap, oncology/hematology focused biotechnology company with a rich portfolio of marketed and development stage drugs. … Spectrum stock is currently trading at $11-12 range, and has dropped >37% from its 52- week high of $17.48. From a valuation standpoint, the shares trade at 2.1 times FY12 and 1.6 times FY13 revenues, and <6 and <4 times our FY12 and FY13 EPS estimates, levels more commonly associated with shares of manufacturers of generic drugs. We consider the recent weakness in stock an excellent buying opportunity for investors."

Spectrum Pharmaceuticals closed at $11.28 on Monday.

Latest Ratings for SPPI

DateFirmActionFromTo
Oct 2013HC WainwrightInitiates Coverage onBuy
Jul 2013JMP SecuritiesUpgradesMarket PerformMarket Outperform
Jun 2013Credit SuisseDowngradesNeutralUnderperform

View More Analyst Ratings for SPPI
View the Latest Analyst Ratings

Posted-In: Dawson JamesAnalyst Color Initiation Intraday Update Analyst Ratings

 

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