Spero Therapeutics (NASDAQ:SPRO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The firm presently has a $12.00 target price on the stock. Zacks Investment Research‘s price objective points to a potential upside of 9.59% from the company’s current price.
According to Zacks, “Spero Therapeutics Inc. is a multi-asset, clinical-stage biopharmaceutical company. It focused on identifying, developing and commercializing novel treatments for multi-drug resistant bacterial infections. Spero Therapeutics Inc. is based in CAMBRIDGE, United States. “
A number of other research firms have also recently issued reports on SPRO. Oppenheimer set a $30.00 price target on shares of Spero Therapeutics and gave the stock a “buy” rating in a report on Monday, July 9th. Cantor Fitzgerald set a $27.00 price target on shares of Spero Therapeutics and gave the stock a “buy” rating in a report on Monday, July 9th. ValuEngine raised shares of Spero Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, May 2nd. Finally, HC Wainwright assumed coverage on shares of Spero Therapeutics in a report on Friday, May 11th. They issued a “buy” rating and a $28.00 price target for the company. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Spero Therapeutics has a consensus rating of “Buy” and a consensus price target of $24.60.
Spero Therapeutics (NASDAQ:SPRO) last posted its quarterly earnings results on Thursday, August 9th. The company reported ($0.69) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.77) by $0.08. The business had revenue of $0.46 million during the quarter, compared to analysts’ expectations of $0.62 million. Spero Therapeutics had a negative net margin of 1,479.91% and a negative return on equity of 132.11%. sell-side analysts expect that Spero Therapeutics will post -3.2 EPS for the current year.
In other news, CFO Joel Sendek sold 2,000 shares of the stock in a transaction on Thursday, July 5th. The shares were sold at an average price of $17.50, for a total value of $35,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Plc Glaxosmithkline acquired 80,000 shares of the business’s stock in a transaction dated Tuesday, July 17th. The stock was acquired at an average price of $12.50 per share, for a total transaction of $1,000,000.00. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 10,676 shares of company stock valued at $187,438. Corporate insiders own 26.90% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. TIAA CREF Investment Management LLC acquired a new stake in shares of Spero Therapeutics in the fourth quarter worth $103,000. PNC Financial Services Group Inc. acquired a new stake in shares of Spero Therapeutics in the second quarter worth $146,000. Bank of New York Mellon Corp increased its stake in shares of Spero Therapeutics by 73.9% in the second quarter. Bank of New York Mellon Corp now owns 24,689 shares of the company’s stock worth $363,000 after acquiring an additional 10,490 shares during the period. Millennium Management LLC acquired a new stake in shares of Spero Therapeutics in the first quarter worth $163,000. Finally, BlackRock Inc. increased its stake in shares of Spero Therapeutics by 4.7% in the first quarter. BlackRock Inc. now owns 252,301 shares of the company’s stock worth $3,596,000 after acquiring an additional 11,427 shares during the period. Hedge funds and other institutional investors own 45.99% of the company’s stock.
Spero Therapeutics Company Profile
Spero Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on identifying, developing, and commercializing novel treatments for multi-drug resistant (MDR) bacterial infections in the United States. Its product candidate includes SPR994, an oral carbapenem-class antibiotic to treat MDR gram-negative infections for adults; and SPR741, which is in Phase Ib clinical trial to treat MDR gram-negative infections in the hospital setting.
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