Stay Ahead of Wall Street. Find out what is happening to Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) stock today? Its price is jumping 0.31 points, trading at $9.45 levels, and is up 3.39% from its previous close of $9.14. The shares seem to have an active trading volume day with a reported 372799 contracts so far this session. SPPI shares had a relatively better volume day versus average trading capacity of 852.99 thousand shares, but with a 0.11 billion float and a 4.1% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for SPPI stock indicates that the average analyst price target is $23.2 per share. This means the stock has a potential increase of 145.5% from where the SPPI share price has been trading recently which is between $8.55 and $9.23. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $17. Flipping the other side of the coin, an analyst who is fully bullish set a price target as high as $41.
During the recent trading session for Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI), the company witnessed their stock rise $0.75 over a week and surge $1.12 from the price 20 days ago. When compared to their established 52-week high of $13.25, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 07/12/18. The recent low of $6.22 stood for a -34.44% since 12/20/18, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 2.61 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to. At the moment, the median target price for SPPI is set at $19, a figure which is above the recent 1-year high the stock witnessed.
Looking at the current readings for Spectrum Pharmaceuticals, Inc., the two-week RSI stands at 65.29. This figure suggests that SPPI stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current SPPI readings is similarly very revealing as it has a stochastic reading of 82.65% at this stage. This figure means that SPPI share price today is being oversold.
Technical chart claims that Spectrum Pharmaceuticals, Inc. (SPPI) would settle between $9.4/share to $9.65/share level. However, if the stock price goes below the $8.72 mark, then the market for Spectrum Pharmaceuticals, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $8.29 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.24. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at B. Riley FBR, assumed coverage of SPPI assigning Buy rating, according to their opinion released on November 27. B. Riley FBR, analysts launched coverage of Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) stock with a Buy recommendation, according to their flash note issued to investors on July 11. Analysts at Jefferies, made their first call for the equity with a Buy recommendation, according to a research note that dated back to March 15.
SPPI equity has an average rating of 2.28, with the figure leaning towards a bullish end. 5 analysts who tracked the company were contacted by Reuters. Amongst them, 0 rated the stock as a hold while the remaining 5 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 5 analysts rated Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.