Market Overview

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

Related SPPI
Mid-Afternoon Market Update: Markets Mixed as iRobot Surges
Mid-Day Market Update: U.S. Markets Extend Losses; Hewlett-Packard Shares Rise On Analyst Upgrade

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.

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

 

Most Popular

Related Articles (SPPI)

Around the Web, We're Loving...

Partner Network

Get Benzinga's News Delivered Free