Spectrum Pharma Downgraded by WallachBeth Capital to “Sell” (SPPI)

Spectrum Pharma (NASDAQ: SPPI) was downgraded by equities researchers at WallachBeth Capital from a “buy” rating to a “sell” rating in a report issued on Thursday. They currently have a $5.50 target price on the stock, down from their previous target price of $20.00.

Shares of Spectrum Pharma (NASDAQ: SPPI) traded up 0.26% during mid-day trading on Thursday, hitting $7.81. Spectrum Pharma has a 52 week low of $7.72 and a 52 week high of $17.48. The stock’s 50-day moving average is currently $11.7. The company has a market cap of $460.7 million and a P/E ratio of 5.34.

A number of other firms have also recently commented on SPPI. Analysts at Roth Capital cut their price target on shares of Spectrum Pharma from $23.00 to $17.00 in a research note to investors on Wednesday. They now have a “buy” rating on the stock. Separately, analysts at RBC Capital cut their price target on shares of Spectrum Pharma from $19.00 to $16.00 in a research note to investors on Wednesday. They now have an “outperform” rating on the stock. Finally, analysts at Credit Suisse cut their price target on shares of Spectrum Pharma from $15.00 to $7.00 in a research note to investors on Wednesday. They now have a “neutral” rating on the stock.

Four analysts have rated the stock with a buy rating, and one has assigned a hold rating to the stock. The company presently has an average rating of “buy” and an average target price of $17.60.

Spectrum Pharmaceuticals, Inc. ( Spectrum) is a commercial stage biopharmaceutical company, engaged in developing and commercializing therapies with a focus primarily in the areas of hematology-oncology and urology.

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