Spero Therapeutics (NASDAQ:SPRO) Announces 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 results on Tuesday. The company reported ($0.03) earnings per share for the quarter, beating analysts' consensus estimates of ($0.38) by $0.35, Zacks reports. Spero Therapeutics had a negative net margin of 156.48% and a negative return on equity of 123.50%. The firm had revenue of $14.19 million during the quarter, compared to analysts' expectations of $11.00 million.

Spero Therapeutics Price Performance

Shares of SPRO opened at $2.36 on Wednesday. The stock has a market cap of $131.95 million, a PE ratio of -1.84 and a beta of 1.39. Spero Therapeutics has a 1-year low of $0.51 and a 1-year high of $3.22. The firm has a fifty day moving average price of $2.62 and a 200 day moving average price of $1.45.

Analysts Set New Price Targets

Separately, Wall Street Zen raised shares of Spero Therapeutics to a "hold" rating in a research report on Saturday, June 21st. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, Spero Therapeutics currently has a consensus rating of "Hold" and a consensus target price of $5.00.

Institutional Investors Weigh In On Spero Therapeutics

A hedge fund recently bought a new stake in Spero Therapeutics stock. XTX Topco Ltd bought a new stake in Spero Therapeutics, Inc. (NASDAQ:SPRO - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 34,551 shares of the company's stock, valued at approximately $100,000. XTX Topco Ltd owned about 0.06% of Spero Therapeutics as of its most recent filing with the Securities & Exchange Commission. 25.60% of the stock is currently owned by institutional investors and hedge funds.

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.