Morgan Joseph Reiterates a 'Buy' on Spectrum Pharmaceuticals (SPPI); Attractive Valuation

Morgan Joseph reiterates a 'Buy' on Spectrum Pharmaceuticals (NASDAQ: SPPI), PT $17.

Morgan analyst says, "Although we are not making significant changes to our 2H11 revenue forecast, we believe that, if Fusilev sales continue along their> present trajectory, there is a distinct possibility that total revenues in 2011 could approach $200 million, compared with our upwardly revised estimate of $166.6 million and current consensus of $134 million."

For more ratings news on Spectrum Pharmaceuticals click here and for the rating history of Spectrum Pharmaceuticals click here.

Shares of Spectrum Pharmaceuticals closed at $9.11 yesterday.

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