Spero Therapeutics (NASDAQ:SPRO) Upgraded by Zacks Research to "Hold" Rating

Key Points

• Zacks Research upgraded Spero Therapeutics to “Hold,” while the broader analyst consensus remains “Hold” with an average price target of $6.00. HC Wainwright maintains a “Buy” rating and raised its target from $5 to $6.
• SPRO opened at $1.13, near its one-year low of $1.08 and below its 50-day and 200-day moving averages of $1.32 and $2.10, respectively.
• The company reported quarterly EPS of -$0.16, slightly better than analysts’ expected loss of $0.17. Institutional investors and hedge funds own 25.6% of the stock, with Alphabet and BlackRock among recent buyers.

Spero Therapeutics (NASDAQ:SPRO - Get Free Report) was upgraded by stock analysts at Zacks Research to a "hold" rating in a research report issued on Monday, Zacks reports.

SPRO has been the subject of a number of other research reports. Compass Point upgraded shares of Spero Therapeutics to a "neutral" rating in a research note on Monday. Weiss Ratings raised shares of Spero Therapeutics from a "sell (d-)" rating to a "hold (c-)" rating in a research report on Wednesday, August 12th. Finally, HC Wainwright raised their price objective on shares of Spero Therapeutics from $5.00 to $6.00 and gave the company a "buy" rating in a report on Monday. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Spero Therapeutics has a consensus rating of "Hold" and an average target price of $6.00.

Spero Therapeutics Price Performance

SPRO stock opened at $1.13 on Monday. The business's 50-day moving average is $1.32 and its two-hundred day moving average is $2.10. The firm has a market capitalization of $65.81 million, a P/E ratio of 10.27 and a beta of 1.49. Spero Therapeutics has a 1 year low of $1.08 and a 1 year high of $3.08.

Spero Therapeutics (NASDAQ:SPRO - Get Free Report) last announced its quarterly earnings data on Wednesday, August 12th. The company reported ($0.16) EPS for the quarter, topping analysts' consensus estimates of ($0.17) by $0.01. Spero Therapeutics had a return on equity of 16.17% and a net margin of 24.90%. On average, analysts expect that Spero Therapeutics will post -0.58 EPS for the current year.

Hedge Funds Weigh In On Spero Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SPRO. Alphabet Inc. acquired a new stake in Spero Therapeutics during the second quarter worth approximately $1,967,000. BlackRock Inc. purchased a new stake in shares of Spero Therapeutics during the 2nd quarter worth approximately $1,314,000. Susquehanna Fundamental Investments LLC acquired a new position in shares of Spero Therapeutics in the 2nd quarter valued at $36,000. Global Retirement Partners LLC acquired a new position in shares of Spero Therapeutics in the 2nd quarter valued at $55,000. Finally, GSA Capital Partners LLP purchased a new position in shares of Spero Therapeutics in the 2nd quarter valued at $632,000. 25.60% of the stock is owned by institutional investors and hedge funds.

About Spero Therapeutics

Spero Therapeutics is a clinical‐stage biopharmaceutical company focused on the discovery and development of novel therapies to address multidrug‐resistant bacterial infections. Headquartered in Boston, Massachusetts, the company aims to advance a pipeline of oral and intravenous antibiotic candidates designed to treat serious infectious diseases that pose significant public health challenges.

The company's lead candidate, tebipenem HBr, is an oral carbapenem antibiotic being developed for the treatment of complicated urinary tract infections caused by resistant Gram‐negative pathogens.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.