Spectrum Pharmaceuticals (SPPI) PT, Estimate Cut at Jefferies

Jefferies analyst Ryan Martins lowered estimates and his price target on Hold-rated Spectrum Pharmaceuticals (NASDAQ: SPPI) to $6.00 (from $8.00) following Q4 results.

Martins commented, "We have lowered our PT to $6 from $8 as we have risk adjusted Fusilev sales after 2Q15 (20% probability of achieving our estimates) post the patent litigation outcome & impending decision on the preliminary injunction. Presentation of additional data on key pipeline drugs (SPI-2012, CE Melphalan, Apaziquone, & Poziotinib) during the analyst day did not materially change our view on them."

The firm cut FY 2015 EPS from ($0.39) to ($0.82) and FY 2016 EPS from ($0.20) to ($0.83).

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 $6.24 yesterday.

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