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UPDATE: Credit Suisse Initiates Spectrum Pharmaceuticals at Neutral; Lacking Fusilev Visibility

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Jefferies Initiates Spectrum Pharmaceuticals With Hold

Credit Suisse initiated coverage on Spectrum Pharmaceuticals, Inc. (NASDAQ: SPPI) with a Neutral rating and a $15.00 price target.

Credit Suisse said, "SPPI is successfully building an oncology-specific, multiproduct company, with a strong focus on sustained profitability and returning value to shareholders. In H1:13, investors will be primarily focused on Fusilev sales and the impact of increased competition from generic leucovorin. Sales of Fusilev may decrease from 2012 highs and limit near-term stock performance. We prefer to take a wait-and-see approach and would look to buy SPPI with greater visibility on Fusilev. From a valuation perspective, we think that shares already reflect a reduction in Fusilev though consensus sales estimates remain high for 2013."

Spectrum Pharmaceuticals closed at $12.67 on Monday.

Latest Ratings for SPPI

DateFirmActionFromTo
Nov 2014JefferiesInitiates Coverage onHold
Oct 2013HC WainwrightInitiates Coverage onBuy
Jul 2013JMP SecuritiesUpgradesMarket PerformMarket Outperform

View More Analyst Ratings for SPPI
View the Latest Analyst Ratings

Posted-In: Credit SuisseAnalyst Color Initiation Intraday Update Analyst Ratings

 

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