Burrill Starts Spectrum Pharmaceuticals (SPPI) at Market Outperform
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Price: $1.03 --0%
Rating Summary:
3 Buy, 6 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 5 | Down: 5 | New: 5
Rating Summary:
3 Buy, 6 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 5 | Down: 5 | New: 5
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Burrill initiates coverage on Spectrum Pharmaceuticals (NASDAQ: SPPI) with a Market Outperform. PT $12.00.
Analyst Reni Benjamin comments, "Spectrum Pharmaceuticals future value is supported by the revenue generated from three marketed products: Fusilev, Zevalin, and Folotyn. Combined, annual revenues should reach $160 MM in 2014, in our opinion. The company also has a late-stage clinical development program comprised of belinostat for PTCL, apaziqouone for bladder cancer, ozarelix for prostate cancer, and a captisol-enabled melphalan for autologous stem cell transplants, as well as a pipeline of earlier stage products to fuel future growth."
He continued, "With a solid portfolio of marketed products, a diverse pipeline of oncology assets, and a strong cash position of $163.4 MM, we believe that Spectrum represents an undervalued player with upside for the long-term investor."
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 $8.48 yesterday.
Analyst Reni Benjamin comments, "Spectrum Pharmaceuticals future value is supported by the revenue generated from three marketed products: Fusilev, Zevalin, and Folotyn. Combined, annual revenues should reach $160 MM in 2014, in our opinion. The company also has a late-stage clinical development program comprised of belinostat for PTCL, apaziqouone for bladder cancer, ozarelix for prostate cancer, and a captisol-enabled melphalan for autologous stem cell transplants, as well as a pipeline of earlier stage products to fuel future growth."
He continued, "With a solid portfolio of marketed products, a diverse pipeline of oncology assets, and a strong cash position of $163.4 MM, we believe that Spectrum represents an undervalued player with upside for the long-term investor."
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 $8.48 yesterday.
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