Spero Therapeutics (NASDAQ:SPRO) Posts Earnings Results, Beats Expectations By $0.35 EPS

Key Points

• Spero Therapeutics reported earnings of ($0.03) EPS for the quarter, surpassing analysts' expectations by $0.32 EPS.
• The stock price experienced a modest increase, trading up $0.16 to reach $2.36 during the trading session.
• Analysts have a consensus rating of "Hold" on Spero Therapeutics with a target price of $5.00 per share.

Spero Therapeutics (NASDAQ:SPRO - Get Free Report) announced its quarterly earnings data on Tuesday. The company reported ($0.03) EPS for the quarter, beating analysts' consensus estimates of ($0.38) by $0.35, Zacks reports. The business had revenue of $14.19 million during the quarter, compared to the consensus estimate of $11.00 million. Spero Therapeutics had a negative return on equity of 120.27% and a negative net margin of 110.35%.

Spero Therapeutics Price Performance

SPRO stock traded down $0.07 during trading on Friday, reaching $1.91. 1,045,587 shares of the stock traded hands, compared to its average volume of 814,655. The business's 50 day moving average price is $2.59 and its 200-day moving average price is $1.48. Spero Therapeutics has a 52-week low of $0.51 and a 52-week high of $3.22. The firm has a market capitalization of $107.49 million, a PE ratio of -1.95 and a beta of 1.39.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised Spero Therapeutics to a "hold" rating in a research report on Saturday, June 21st. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $5.00.

Institutional Investors Weigh In On Spero Therapeutics

An institutional investor recently bought a new position in Spero Therapeutics stock. XTX Topco Ltd bought a new position in Spero Therapeutics, Inc. (NASDAQ:SPRO - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 34,551 shares of the company's stock, valued at approximately $100,000. XTX Topco Ltd owned 0.06% of Spero Therapeutics at the end of the most recent reporting period. Hedge funds and other 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.