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

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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
Apr 2015FBR CapitalInitiates Coverage onOutperform
Mar 2015JefferiesMaintainsHold
Feb 2015Roth CapitalDowngradesBuy

View More Analyst Ratings for SPPI
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Posted-In: Credit Suisse Jason KantorAnalyst Color Downgrades Analyst Ratings

 

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