Spectrum Pharmaceuticals Inc. (SPPI) has been one of the best performers amongst all NYSE and NASDAQ listed stocks in the health care sector during morning trading on September 22. At the lunch break, shares of SPPI have clocked gains of 4.25% to $4.66 after closing the day prior at $4.47. In the first two and a half hours of trading, the stock has gone as high as $4.66 and as low as $4.47. Today’s rise has come with about 328,340 shares changing hands, compared to an average 30-day volume of 1.13 million for Spectrum Pharmaceuticals Inc.. The price is currently below the 30-day volume weighted average price of $4.58 for SPPI.
The share appreciation gives the company a market capitalization of $358.57 million based upon 80.22 million shares outstanding. It also means that SPPI has a price-to-book ratio of 1.52:1.
In the past 52 weeks, shares of SPPI have traded as low as $4.14 and as high as $7.74. Technical traders will take note that at $4.66, shares of SPPI are trading below their 200-day MA at $6.08 and below their 50-day MA at $5.98. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding above them is typically regarded as bullish.
Who is SPPI?
Spectrum Pharmaceuticals Inc is a biotechnology company with fully integrated commercial and drug development operations with a primary focus on oncology and hematology. The company’s 212 employees are led by CEO Rajesh C. Shrotriya from the corporate headquarters at 11500 South Eastern Avenue in Henderson, NV.
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