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

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

 

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