Zacks: Brokerages Anticipate Spero Therapeutics Inc (NASDAQ:SPRO) Will Announce Quarterly Sales of $2.03 Million

Brokerages forecast that Spero Therapeutics Inc (NASDAQ:SPRO) will report $2.03 million in sales for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Spero Therapeutics’ earnings, with the lowest sales estimate coming in at $1.25 million and the highest estimate coming in at $2.50 million. Spero Therapeutics posted sales of $660,000.00 in the same quarter last year, which indicates a positive year over year growth rate of 207.6%. The company is expected to announce its next quarterly earnings results on Thursday, November 14th.

On average, analysts expect that Spero Therapeutics will report full-year sales of $14.23 million for the current fiscal year, with estimates ranging from $13.62 million to $15.00 million. For the next fiscal year, analysts anticipate that the firm will report sales of $11.15 million, with estimates ranging from $10.00 million to $11.90 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that cover Spero Therapeutics.

Spero Therapeutics (NASDAQ:SPRO) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.74) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.64) by ($0.10). Spero Therapeutics had a negative net margin of 321.37% and a negative return on equity of 33.84%. The business had revenue of $2.16 million for the quarter, compared to the consensus estimate of $6.95 million.

SPRO has been the subject of a number of recent research reports. ValuEngine downgraded shares of Spero Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, September 10th. Oppenheimer cut their price objective on shares of Spero Therapeutics from $30.00 to $20.00 in a research report on Wednesday, October 2nd. Zacks Investment Research downgraded shares of Spero Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday, September 12th. Janney Montgomery Scott initiated coverage on shares of Spero Therapeutics in a research report on Monday, September 9th. They set a “buy” rating for the company. Finally, HC Wainwright reissued a “buy” rating and set a $28.00 price objective on shares of Spero Therapeutics in a research report on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $19.20.

Shares of SPRO stock traded down $0.12 during mid-day trading on Wednesday, reaching $10.35. 15,600 shares of the company’s stock traded hands, compared to its average volume of 63,342. Spero Therapeutics has a 12 month low of $5.52 and a 12 month high of $14.48. The firm has a 50 day moving average price of $10.70 and a two-hundred day moving average price of $11.35. The company has a debt-to-equity ratio of 0.04, a quick ratio of 13.66 and a current ratio of 13.66. The firm has a market capitalization of $195.37 million, a PE ratio of -3.98 and a beta of 2.09.

Several hedge funds have recently modified their holdings of SPRO. Acadian Asset Management LLC bought a new position in Spero Therapeutics in the 2nd quarter worth $25,000. Marshall Wace LLP bought a new position in Spero Therapeutics in the 1st quarter worth $39,000. Northern Trust Corp boosted its holdings in Spero Therapeutics by 6.1% in the 2nd quarter. Northern Trust Corp now owns 93,750 shares of the company’s stock worth $1,079,000 after buying an additional 5,416 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Spero Therapeutics by 30.7% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 25,118 shares of the company’s stock worth $290,000 after buying an additional 5,895 shares during the period. Finally, Wells Fargo & Company MN boosted its holdings in Spero Therapeutics by 187.9% in the 2nd quarter. Wells Fargo & Company MN now owns 13,660 shares of the company’s stock worth $157,000 after buying an additional 8,915 shares during the period. 50.97% of the stock is owned by hedge funds and other institutional investors.

About Spero Therapeutics

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; SPR741, which is in Phase Ib clinical trial to treat MDR gram-negative infections in the hospital setting; SPR206, an agent that is phase I clinical trial to disrupt the outer membrane of gram-negative bacteria; and SPR720, an oral antibiotic, which is in phase I clinical trial for the treatment of pulmonary non-tuberculous mycobacterial infections.

Recommended Story: How to start trading in the forex market?

Get a free copy of the Zacks research report on Spero Therapeutics (SPRO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Spero Therapeutics (NASDAQ:SPRO)

Receive News & Ratings for Spero Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spero Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.