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

In a report published Monday, Credit Suisse analyst Jason Kantor downgraded Spectrum Pharmaceuticals SPPI from Neutral to Underperform and maintains 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 and is trading down 3.87% pre-market.