We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Spectrum Pharmaceuticals Up 134% in 6 Months: Here's Why
Read MoreHide Full Article
Shares of Spectrum Pharmaceuticals, Inc. have been witnessing an upside. This biotech company has more than doubled in the past six months, surging 134.2% and significantly outperforming the 5.1% rise of the industry during this period.
Spectrum is focused on acquiring, developing and commercializing products, primarily in the fields of hematology and oncology. The company markets six products, which are utilized to treat several cancer indications including lymphoma, leukemia and myeloma. However, its primary focus is on the development of pipeline, which includes poziotinib, Qapzola and Rolontis.
Pipeline in Focus
The price performance in the last six months can be attributed to its strong pipeline. The company initiated a phase III study on Qapzola, a phase II study on poziotinib and completed enrollment of the phase III pivotal study on Rolontis.
Spectrum Pharmaceuticals is developing Qapzola for treating non-muscle invasive bladder cancer, Rolontis for the management of chemotherapy-induced neutropenia in breast cancer patients and poziotinib in non-small cell lung cancer patients (“NSCLC”) and breast cancer.
In October 2017, Spectrum announced encouraging preliminary data on poziotinib from phase II NSCLC study in patients who have exon 20 insertion mutations in EGFR. Of these, 73% of the patients treated with poziotinib had objective response. The stock witnessed a rise following the news. Spectrum is evaluating the candidate in a phase II study NSCLC patients with exon 20 insertion mutations in EGFR or HER2.
Meanwhile, two phase III studies – ADVANCE and RECOVER – are evaluating the company’s most advanced candidate, Rolontis. Both the studies have a similar design and are evaluating Rolontis versus Amgen Inc.’s (AMGN - Free Report) Neulasta for management of neutropeniain early-stage breast cancer. The RECOVER study is being conducted for strengthening the regulatory package for a biologics license application, which is expected to be filed in the fourth quarter of 2018. Top line data from the ADVANCE study is expected in the first quarter of 2018..
However, product sales have been lackluster in the last six months. This keeps investors focused on pipeline development. Meanwhile, Spectrum’s cash and cash equivalents rose about $109 million to $247 million in the third quarter of 2017, which should help the company fund the development of candidates. A positive data readout from the Rolontis study expected this quarter may propel the stock further.
Agenus’ loss estimates narrowed from $1.25 to $1.16 for 2017 and from $1.37 to $1.36 for 2018 over the last 30 days. The company delivered a positive earnings surprise in all the trailing four quarters with an average beat of 15.99%. The company’s shares have returned 3.1% in the past year.
Alkermes’ earnings estimates remained flat at 1 cent for 2017 and increased from 24 cents to 36 cents for 2018 over the last 30 days. The company came up with a positive earnings surprise in two of the trailing four quarters with an average beat of 75%.
Will You Make a Fortune on the Shift to Electric Cars?
Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
Image: Bigstock
Spectrum Pharmaceuticals Up 134% in 6 Months: Here's Why
Shares of Spectrum Pharmaceuticals, Inc. have been witnessing an upside. This biotech company has more than doubled in the past six months, surging 134.2% and significantly outperforming the 5.1% rise of the industry during this period.
Spectrum is focused on acquiring, developing and commercializing products, primarily in the fields of hematology and oncology. The company markets six products, which are utilized to treat several cancer indications including lymphoma, leukemia and myeloma. However, its primary focus is on the development of pipeline, which includes poziotinib, Qapzola and Rolontis.
Pipeline in Focus
The price performance in the last six months can be attributed to its strong pipeline. The company initiated a phase III study on Qapzola, a phase II study on poziotinib and completed enrollment of the phase III pivotal study on Rolontis.
Spectrum Pharmaceuticals is developing Qapzola for treating non-muscle invasive bladder cancer, Rolontis for the management of chemotherapy-induced neutropenia in breast cancer patients and poziotinib in non-small cell lung cancer patients (“NSCLC”) and breast cancer.
In October 2017, Spectrum announced encouraging preliminary data on poziotinib from phase II NSCLC study in patients who have exon 20 insertion mutations in EGFR. Of these, 73% of the patients treated with poziotinib had objective response. The stock witnessed a rise following the news. Spectrum is evaluating the candidate in a phase II study NSCLC patients with exon 20 insertion mutations in EGFR or HER2.
Meanwhile, two phase III studies – ADVANCE and RECOVER – are evaluating the company’s most advanced candidate, Rolontis. Both the studies have a similar design and are evaluating Rolontis versus Amgen Inc.’s (AMGN - Free Report) Neulasta for management of neutropeniain early-stage breast cancer. The RECOVER study is being conducted for strengthening the regulatory package for a biologics license application, which is expected to be filed in the fourth quarter of 2018. Top line data from the ADVANCE study is expected in the first quarter of 2018..
However, product sales have been lackluster in the last six months. This keeps investors focused on pipeline development. Meanwhile, Spectrum’s cash and cash equivalents rose about $109 million to $247 million in the third quarter of 2017, which should help the company fund the development of candidates. A positive data readout from the Rolontis study expected this quarter may propel the stock further.
Spectrum Pharmaceuticals, Inc. Price
Spectrum Pharmaceuticals, Inc. Price | Spectrum Pharmaceuticals, Inc. Quote
Zacks Rank & Stocks to Consider
Spectrum carries a Zacks Rank #3 (Hold).
A couple of better-ranked stocks in the pharma sector include Agenus Inc. (AGEN - Free Report) and Alkermes PLC (ALKS - Free Report) . Both the stocks carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Agenus’ loss estimates narrowed from $1.25 to $1.16 for 2017 and from $1.37 to $1.36 for 2018 over the last 30 days. The company delivered a positive earnings surprise in all the trailing four quarters with an average beat of 15.99%. The company’s shares have returned 3.1% in the past year.
Alkermes’ earnings estimates remained flat at 1 cent for 2017 and increased from 24 cents to 36 cents for 2018 over the last 30 days. The company came up with a positive earnings surprise in two of the trailing four quarters with an average beat of 75%.
Will You Make a Fortune on the Shift to Electric Cars?
Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
It's not the one you think.
See This Ticker Free >>