Market Overview

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

Related SPPI
US Stock Futures Up; Gold Futures Rise 2%
Benzinga's Top Initiations

In a report published Friday, H.C. Wainwright & Co. analyst Reni Benjamin reiterated a Buy rating and $15.00 price target on Spectrum Pharmaceuticals (NASDAQ: SPPI).

In the report, H.C. Wainwright & Co. noted, “We are reiterating our BUY rating for Spectrum Pharmaceuticals and a 12-month target price of $15, based on a discounted revenues and earnings per share valuation methodology. A major highlight of the second quarter was the accelerated approval of Beleodaq (also called belinostat) for the treatment of patients with refractory or relapsed peripheral T-cell lymphoma (PTCL). Starting this month, Beleodaq becomes the fifth product to be incorporated into a solid portfolio of marketed oncology products including Fusilev, Zevalin, Folotyn, and Marqibo. With $135.7 MM in cash and a diverse pipeline of assets in clinical development, we believe Spectrum represents an undervalued player with significant upside for the long-term investor.”

Spectrum Pharmaceuticals closed on Thursday at $7.24.

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: H.C. Wainwright & Co. Reni BenjaminAnalyst Color Reiteration Analyst Ratings

 

Related Articles (SPPI)

Around the Web, We're Loving...

Get Benzinga's Newsletters