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UPDATE: Credit Suisse Downgrades Spectrum Pharmaceuticals on Limited Growth Opportunities and Increased Risk

Related SPPI
Spectrum Pharmaceuticals Out-Licenses Rights for Greater China To CASI Pharmaceuticals For Three Of Its Drugs
H.C. Wainwright & Co. Sees Significant Upside Ahead For Spectrum Pharmaceuticals

In a report published Monday, Credit Suisse analyst Jason Kantor downgraded Spectrum Pharmaceuticals (NASDAQ: SPPI) from Neutral to Underperform and maintained a price target of $7.00.

In the report, Credit Suisse cited, “We believe the near term growth opportunities are limited, and there is risk to current company Fusilev guidance. Specifically, Fusilev Q2 sales and H2 run rate are likely to disappoint. Belinostat should provide a new source of growth, but not in 2013 and there still are regulatory risks associated with the program.”

Spectrum closed Friday at $8.01.

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: Credit Suisse Jason KantorAnalyst Color Downgrades Analyst Ratings

 

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