Spero Therapeutics (NASDAQ:SPRO) Rating Increased to Strong-Buy at Zacks Research

Key Points

• Spero Therapeutics has been upgraded to a "strong-buy" rating by Zacks Research, indicating growing confidence in the company's stock.
• The company reported better-than-expected quarterly earnings, with an EPS of ($0.03) compared to an analyst consensus of ($0.38), along with revenue of $14.19 million.
• Institutional investors have increased their stakes in Spero Therapeutics, with Anson Funds Management raising its stake by 98.9% in the first quarter.

Spero Therapeutics (NASDAQ:SPRO - Get Free Report) was upgraded by Zacks Research from a "hold" rating to a "strong-buy" rating in a research note issued on Monday,Zacks.com reports.

SPRO has been the subject of a number of other reports. Wall Street Zen upgraded Spero Therapeutics to a "hold" rating in a research report on Saturday, June 21st. Weiss Ratings restated a "sell (d-)" rating on shares of Spero Therapeutics in a research report on Saturday, September 27th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $5.00.

Spero Therapeutics Stock Up 3.3%

Shares of SPRO stock opened at $2.16 on Monday. The stock has a 50-day moving average price of $2.02 and a 200 day moving average price of $1.78. The firm has a market cap of $121.56 million, a price-to-earnings ratio of -2.20 and a beta of 1.47. Spero Therapeutics has a 12 month low of $0.51 and a 12 month high of $3.22.

Spero Therapeutics (NASDAQ:SPRO - Get Free Report) last announced its quarterly earnings data on Tuesday, August 12th. The company reported ($0.03) EPS for the quarter, topping analysts' consensus estimates of ($0.38) by $0.35. The firm had revenue of $14.19 million during the quarter, compared to analyst estimates of $11.00 million. Spero Therapeutics had a negative return on equity of 120.27% and a negative net margin of 110.35%. Sell-side analysts predict that Spero Therapeutics will post -1.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Spero Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Anson Funds Management LP raised its stake in Spero Therapeutics by 98.9% in the 1st quarter. Anson Funds Management LP now owns 7,638,818 shares of the company's stock valued at $5,500,000 after acquiring an additional 3,798,932 shares during the period. Mackenzie Financial Corp raised its stake in Spero Therapeutics by 11.4% in the 1st quarter. Mackenzie Financial Corp now owns 209,031 shares of the company's stock valued at $151,000 after acquiring an additional 21,472 shares during the period. Stonepine Capital Management LLC bought a new stake in Spero Therapeutics in the 2nd quarter valued at $455,000. Squarepoint Ops LLC bought a new stake in Spero Therapeutics in the 4th quarter valued at $57,000. Finally, Assenagon Asset Management S.A. bought a new stake in Spero Therapeutics in the 3rd quarter valued at $70,000. Institutional investors own 25.60% of the company's stock.

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. 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.

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