H.C. Wainwright & Co. Sees Significant Upside Ahead For Spectrum Pharmaceuticals
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
|Oct 2013||HC Wainwright||Initiates Coverage on||Buy|
|Jul 2013||JMP Securities||Upgrades||Market Perform||Market Outperform|
|Jun 2013||Credit Suisse||Downgrades||Neutral||Underperform|
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