Auriga Reiterates a 'Buy' on Spectrum Pharmaceuticals (SPPI); Generic Leucovorin Shortage Continues

Auriga reiterates a 'Buy' on Spectrum Pharmaceuticals (NASDAQ: SPPI) price target of $18.00.

Analyst, Difei Yang, said, "According to the periodic update on several websites regarding the generic leucovorin shortage, we think Teva (Nasdaq: TEVA) and Bedford are many months away from being able to supply the market at full capacity. Therefore, we believe our assumption of generics return during Q3 is conservative. In addition, we believe part of Fusilev demand can be retained even after generics return due to SPPI's own promotion...The latest update from Bedford is that limited quantities of leucovorin solution became available. However, once the current stock is exhausted, availability of additional quantity cannot be estimated. We believe the available products were made before manufacturing suspension last November."

For an analyst ratings summary and ratings history on Spectrum Pharmaceuticals click here. For more ratings news on Spectrum Pharmaceuticals click here.

Shares of Spectrum Pharmaceuticals closed at $12.14 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• HSBC Downgrades Feng Tay Enterprises (9910:TT) to Hold
• TD Cowen Resumes EQT Corp. (EQT) at Hold
• Alpine Income Property Trust (PINE) PT Lowered to $18 at Jones Trading