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

Spero Therapeutics (NASDAQ:SPRO) announced its earnings results on Tuesday. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.38) by $0.35, Zacks reports. The company 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 110.56% and a negative net margin of 110.35%.

Spero Therapeutics Stock Performance

Spero Therapeutics stock opened at $1.93 on Thursday. The firm’s 50-day moving average is $2.61 and its 200-day moving average is $1.46. Spero Therapeutics has a 1 year low of $0.51 and a 1 year high of $3.22. The company has a market cap of $107.91 million, a P/E ratio of -1.97 and a beta of 1.39.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Spero Therapeutics stock. Invesco Ltd. purchased a new position in Spero Therapeutics, Inc. (NASDAQ:SPRO) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 14,968 shares of the company’s stock, valued at approximately $43,000. 25.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded Spero Therapeutics to a “hold” rating in a research note on Saturday, June 21st. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $5.00.

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.