Spero Therapeutics (SPRO) Downgraded by Zacks Investment Research to Hold

Zacks Investment Research cut shares of Spero Therapeutics (NASDAQ:SPRO) from a buy rating to a hold rating in a research report sent to investors on Wednesday.

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 analysts also recently commented on the stock. Cantor Fitzgerald reaffirmed an overweight rating on shares of Spero Therapeutics in a research note on Friday, March 15th. Oppenheimer set a $30.00 target price on shares of Spero Therapeutics and gave the stock a buy rating in a research report on Tuesday, February 26th. Finally, ValuEngine downgraded shares of Spero Therapeutics from a buy rating to a hold rating in a research report on Wednesday, January 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of Hold and a consensus target price of $21.80.

NASDAQ:SPRO opened at $13.11 on Wednesday. The stock has a market capitalization of $225.75 million, a price-to-earnings ratio of -5.04 and a beta of 2.96. Spero Therapeutics has a 12-month low of $5.52 and a 12-month high of $19.00.

Spero Therapeutics (NASDAQ:SPRO) last released its earnings results on Thursday, March 14th. The company reported ($0.60) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.75) by $0.15. The company had revenue of $1.69 million for the quarter, compared to analyst estimates of $0.84 million. Spero Therapeutics had a negative net margin of 1,050.48% and a negative return on equity of 43.63%. As a group, equities research analysts predict that Spero Therapeutics will post -3.4 earnings per share for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of SPRO. JPMorgan Chase & Co. increased its position in Spero Therapeutics by 27.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 176,483 shares of the company’s stock worth $1,855,000 after purchasing an additional 37,840 shares in the last quarter. BlackRock Inc. increased its position in Spero Therapeutics by 8.9% during the 3rd quarter. BlackRock Inc. now owns 372,469 shares of the company’s stock worth $3,915,000 after purchasing an additional 30,470 shares in the last quarter. Artal Group S.A. increased its position in Spero Therapeutics by 71.4% during the 3rd quarter. Artal Group S.A. now owns 600,000 shares of the company’s stock worth $6,306,000 after purchasing an additional 250,000 shares in the last quarter. AWM Investment Company Inc. increased its position in Spero Therapeutics by 284.8% during the 3rd quarter. AWM Investment Company Inc. now owns 540,474 shares of the company’s stock worth $5,680,000 after purchasing an additional 400,000 shares in the last quarter. Finally, Bridgeway Capital Management Inc. increased its position in Spero Therapeutics by 43.7% during the 3rd quarter. Bridgeway Capital Management Inc. now owns 78,579 shares of the company’s stock worth $826,000 after purchasing an additional 23,879 shares in the last quarter. 46.35% of the stock is owned by hedge funds and other institutional investors.

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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