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

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

A number of other research firms also recently weighed in on SPRO. Cantor Fitzgerald restated an “overweight” rating on shares of Spero Therapeutics in a research 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 $1.29 on Monday. Spero Therapeutics has a one year low of $1.01 and a one year high of $1.89. The business’s 50-day simple moving average is $1.30 and its 200 day simple moving average is $1.37. The stock has a market cap of $69.65 million, a price-to-earnings ratio of 3.91 and a beta of 0.63.

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

Institutional Investors Weigh In On Spero Therapeutics

A number of hedge funds have recently bought and sold shares of the company. Acadian Asset Management LLC increased its holdings in shares of Spero Therapeutics by 121.8% during the first quarter. Acadian Asset Management LLC now owns 762,598 shares of the company’s stock worth $1,310,000 after buying an additional 418,742 shares in the last quarter. Virtu Financial LLC bought a new position in Spero Therapeutics in the first quarter valued at approximately $31,000. Vanguard Group Inc. boosted its stake in Spero Therapeutics by 0.6% in 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 during the last quarter. Renaissance Technologies LLC boosted its position in shares of Spero Therapeutics by 14.2% during the second quarter. Renaissance Technologies LLC now owns 975,952 shares of the company’s stock worth $1,269,000 after purchasing an additional 121,492 shares in the last quarter. Finally, Murchinson Ltd. boosted its position in shares of Spero Therapeutics by 1.3% during 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 in the last quarter. 25.60% of the stock is currently owned by 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 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.