HC Wainwright Lowers Spero Therapeutics (NASDAQ:SPRO) Price Target to $5.00

Spero Therapeutics (NASDAQ:SPRO) had its price target decreased by equities researchers at HC Wainwright from $7.00 to $5.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s target price would indicate a potential upside of 281.68% from the stock’s previous close.

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

Spero Therapeutics Stock Performance

NASDAQ SPRO opened at $1.31 on Monday. Spero Therapeutics has a 52-week low of $1.01 and a 52-week high of $1.89. The company has a fifty day moving average of $1.30 and a 200-day moving average of $1.37. The company has a market capitalization of $70.72 million, a P/E ratio of 3.97 and a beta of 0.63.

Spero Therapeutics (NASDAQ:SPRO) last released its quarterly earnings results on Monday, August 5th. The company reported ($0.33) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.01. Spero Therapeutics had a return on equity of 25.67% and a net margin of 14.74%. The business had revenue of $10.20 million for the quarter, compared to the consensus estimate of $9.80 million. During the same quarter last year, the business posted ($0.23) earnings per share. As a group, analysts forecast that Spero Therapeutics will post -1.59 EPS for the current fiscal year.

Institutional Investors Weigh In On Spero Therapeutics

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