BlackRock Inc. raised its holdings in Spero Therapeutics Inc (NASDAQ:SPRO) by 35.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 341,999 shares of the company’s stock after buying an additional 89,698 shares during the quarter. BlackRock Inc. owned about 2.38% of Spero Therapeutics worth $5,017,000 at the end of the most recent reporting period.
Separately, Millennium Management LLC purchased a new stake in Spero Therapeutics in the first quarter valued at about $163,000. 38.55% of the stock is owned by hedge funds and other institutional investors.
Spero Therapeutics stock opened at $8.57 on Friday. Spero Therapeutics Inc has a one year low of $7.80 and a one year high of $19.00. The stock has a market capitalization of $148.62 million and a price-to-earnings ratio of -0.48.
Spero Therapeutics (NASDAQ:SPRO) last announced its quarterly earnings data on Thursday, November 8th. The company reported ($0.60) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.64) by $0.04. The business had revenue of $0.66 million for the quarter, compared to analyst estimates of $0.66 million. Spero Therapeutics had a negative return on equity of 132.11% and a negative net margin of 1,479.91%. As a group, equities research analysts predict that Spero Therapeutics Inc will post -2.69 EPS for the current year.
A number of research firms have commented on SPRO. Zacks Investment Research upgraded Spero Therapeutics from a “hold” rating to a “buy” rating and set a $9.50 price target for the company in a research note on Friday, October 19th. Cantor Fitzgerald reiterated a “buy” rating and issued a $27.00 price target on shares of Spero Therapeutics in a research note on Tuesday, July 17th. Oppenheimer set a $30.00 price target on Spero Therapeutics and gave the company a “buy” rating in a research note on Monday, July 16th. Finally, Bank of America cut Spero Therapeutics from a “neutral” rating to an “underperform” rating and decreased their price target for the company from $19.00 to $9.00 in a research note on Tuesday, October 16th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $21.58.
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Spero Therapeutics Profile
Spero Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on identifying, developing, and commercializing novel treatments for multi-drug resistant (MDR) bacterial infections in the United States. Its product candidate includes SPR994, an oral carbapenem-class antibiotic to treat MDR gram-negative infections for adults; and SPR741, which is in Phase Ib clinical trial to treat MDR gram-negative infections in the hospital setting.
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