Spero Therapeutics (NASDAQ:SPRO) Given New $5.00 Price Target at HC Wainwright

Spero Therapeutics (NASDAQ:SPRO) had its target price reduced by HC Wainwright from $7.00 to $5.00 in a report issued on Monday morning, Benzinga reports. HC Wainwright currently has a buy rating on the stock.

A number of other brokerages also recently issued reports on SPRO. Cantor Fitzgerald reiterated an “overweight” rating on shares of Spero Therapeutics in a research note on Tuesday, August 6th. TD Cowen raised Spero Therapeutics from a “hold” rating to a “buy” rating in a report on Tuesday, August 6th.

Spero Therapeutics Stock Up 9.3 %

NASDAQ:SPRO opened at $1.29 on Monday. The stock has a market cap of $69.65 million, a P/E ratio of 3.91 and a beta of 0.63. The firm’s fifty day simple moving average is $1.30 and its 200 day simple moving average is $1.37. Spero Therapeutics has a twelve month low of $1.01 and a twelve month high of $1.89.

Spero Therapeutics (NASDAQ:SPRO) last issued its earnings results on Monday, August 5th. The company reported ($0.33) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.01. The business had revenue of $10.20 million during the quarter, compared to analyst estimates of $9.80 million. Spero Therapeutics had a return on equity of 25.67% and a net margin of 14.74%. During the same quarter in the previous year, the firm earned ($0.23) EPS. On average, analysts expect that Spero Therapeutics will post -1.59 EPS for the current fiscal year.

Institutional Investors Weigh In On Spero Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Spero Therapeutics by 0.6% during the first quarter. Vanguard Group Inc. now owns 1,653,432 shares of the company’s stock valued at $2,844,000 after acquiring an additional 9,675 shares in the last quarter. Murchinson Ltd. raised its position in Spero Therapeutics by 1.3% in the first quarter. Murchinson Ltd. now owns 873,910 shares of the company’s stock valued at $1,503,000 after purchasing an additional 11,210 shares during the period. Virtu Financial LLC purchased a new stake in Spero Therapeutics in the first quarter valued at $31,000. Renaissance Technologies LLC raised its holdings in shares of Spero Therapeutics by 14.2% in the 2nd quarter. Renaissance Technologies LLC now owns 975,952 shares of the company’s stock valued at $1,269,000 after buying an additional 121,492 shares during the period. Finally, Acadian Asset Management LLC raised its holdings in shares of Spero Therapeutics by 40.6% in the 2nd quarter. Acadian Asset Management LLC now owns 1,071,860 shares of the company’s stock valued at $1,392,000 after buying an additional 309,262 shares during the period. Institutional investors own 25.60% of the company’s stock.

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 and rare diseases in the United States. The company’s product candidates include tebipenem pivoxil hydrobromide (HBr), an oral carbapenem-class antibiotic to treat complicated urinary tract infections, including pyelonephritis for adults; SPR206, an intravenous-administered antibiotic against MDR Gram-negative pathogens comprising carbapenem-resistant enterobacterales (CRE), acinetobacter baumannii, and pseudomonas aeruginosa, as well as negative bacterial infections in the hospital setting; and SPR720, a novel oral antibiotic agent for the treatment of non-tuberculous mycobacterial pulmonary disease.