Spero Therapeutics (NASDAQ:SPRO) Lifted to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Spero Therapeutics (NASDAQ:SPRO) from a hold rating to a buy rating in a research note issued to investors on Wednesday morning, Zacks.com reports. They currently have $15.00 target price on the stock.

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. HC Wainwright reissued a buy rating and issued a $28.00 price target on shares of Spero Therapeutics in a research note on Tuesday, June 2nd. Oppenheimer assumed coverage on shares of Spero Therapeutics in a research note on Friday, May 8th. They issued a buy rating and a $20.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of Buy and a consensus price target of $21.00.

Shares of NASDAQ:SPRO traded up $0.20 during trading on Wednesday, hitting $12.50. 6,942 shares of the stock traded hands, compared to its average volume of 139,501. The company has a quick ratio of 4.31, a current ratio of 4.31 and a debt-to-equity ratio of 0.05. The company has a market cap of $278.33 million, a price-to-earnings ratio of -2.88 and a beta of 1.84. The company has a fifty day moving average price of $12.98 and a two-hundred day moving average price of $10.70. Spero Therapeutics has a 52-week low of $5.25 and a 52-week high of $14.48.

Spero Therapeutics (NASDAQ:SPRO) last posted its earnings results on Thursday, August 6th. The company reported ($0.85) earnings per share for the quarter, beating the consensus estimate of ($1.17) by $0.32. Spero Therapeutics had a negative net margin of 715.20% and a negative return on equity of 100.41%. On average, equities research analysts predict that Spero Therapeutics will post -4.15 EPS for the current fiscal year.

In other Spero Therapeutics news, CEO Ankit Mahadevia sold 2,293 shares of Spero Therapeutics stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $14.31, for a total transaction of $32,812.83. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 18.34% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. boosted its stake in Spero Therapeutics by 16.7% during the 1st quarter. BlackRock Inc. now owns 881,231 shares of the company’s stock worth $7,120,000 after purchasing an additional 125,966 shares during the last quarter. Rock Springs Capital Management LP boosted its stake in Spero Therapeutics by 15.2% during the 1st quarter. Rock Springs Capital Management LP now owns 605,000 shares of the company’s stock worth $4,888,000 after purchasing an additional 80,000 shares during the last quarter. VR Adviser LLC acquired a new stake in Spero Therapeutics during the 1st quarter worth $3,830,000. State Street Corp boosted its stake in Spero Therapeutics by 33.5% during the 1st quarter. State Street Corp now owns 278,443 shares of the company’s stock worth $2,250,000 after purchasing an additional 69,852 shares during the last quarter. Finally, Granahan Investment Management Inc. MA boosted its stake in Spero Therapeutics by 15.2% during the 1st quarter. Granahan Investment Management Inc. MA now owns 171,434 shares of the company’s stock worth $1,385,000 after purchasing an additional 22,567 shares during the last quarter. 50.58% of the stock is currently owned by 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 and rare diseases in the United States. Its product candidates include tebipenem pivoxil hydrobromide (HBr), an oral carbapenem-class antibiotic to treat MDR gram-negative infections for adults; SPR206, a direct acting IV-administered agent to treat MDR Gram-negative infections in the hospital; and SPR720, an oral antibiotic for the treatment of pulmonary non-tuberculous mycobacterial disease.

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