Auriga Reiterates a 'Buy' on Spectrum Pharmaceuticals (SPPI); February Demand for Fusilev Hits Record
Tweet
Share
E-mailGet Alerts SPPI Hot Sheet
Price: $1.03 --0%
Rating Summary:
3 Buy, 6 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 16 | Down: 11 | New: 13
Rating Summary:
3 Buy, 6 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 16 | Down: 11 | New: 13
Join SI Premium – FREE
Auriga reiterates a 'Buy' on Spectrum Pharmaceuticals (NASDAQ: SPPI) price target of $18.00.
Auriga analyst says, "The recent updated Wolters Kluwer demand data for February demand of Fusilev confirmed our previous thesis that generic leucovorin shortage is likely to persist longer than expected. As a result, the reported institutional demand is at $18.5 million, a 34% increase from the January level. As there is no relief expected to the generic shortage during the month of March, we further expect the demand to remain at a high level for March, possibly at a still higher level than February. We would advise investors to take advantage the weakness of the shares and be aggressive buyers at the current level. Record Q1 revenue is expected. Our latest check on the potential timing of generic leucovorin re-supply suggests that the shortage situation is likely to get worse before it gets better. In addition to Spectrum Pharmaceuticals, there are two major generic manufacturers, Bedford and Teva (Nasdaq: TEVA)."
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 $13.12 yesterday.
Auriga analyst says, "The recent updated Wolters Kluwer demand data for February demand of Fusilev confirmed our previous thesis that generic leucovorin shortage is likely to persist longer than expected. As a result, the reported institutional demand is at $18.5 million, a 34% increase from the January level. As there is no relief expected to the generic shortage during the month of March, we further expect the demand to remain at a high level for March, possibly at a still higher level than February. We would advise investors to take advantage the weakness of the shares and be aggressive buyers at the current level. Record Q1 revenue is expected. Our latest check on the potential timing of generic leucovorin re-supply suggests that the shortage situation is likely to get worse before it gets better. In addition to Spectrum Pharmaceuticals, there are two major generic manufacturers, Bedford and Teva (Nasdaq: TEVA)."
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 $13.12 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Citi Downgrades UBS AG (UBSG:SW) (UBS) to Neutral
- Verona Pharma (VRNA) PT Raised to $34 at BTIG
- Citi Reiterates Neutral Rating on Cleveland-Cliffs (CLF)
Create E-mail Alert Related Categories
Analyst CommentsRelated Entities
AurigaSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
