Spectrum Pharmaceuticals (SPPI) PT Bumped to $6 at Jefferies

Jefferies analyst Chris Howerton bumped his price target on Spectrum Pharmaceuticals (NASDAQ: SPPI) to $6.00 (from $5.00) but maintained a Hold rating following Q1 results.

Howerton commented, "Our takeaways from the call: 1) SPPI commercial team cont. to execute & exp. near-term sales for Evomela (recently launched Mar '16); 2) SPI-2012 has initiated enrollment in its ph 3 pivotal trial in the US and CA w/ an exp 18mth completion and pot'l data presentation at ASCO 2017; 3) 'Pozi' has initiated ph 2 trials in mult'pl cancer indications; 4) 'Apazi' is awaiting judgement day w/ AdComm in 2H16 & PDUFA Dec. 11."

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 $6.40 yesterday.

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