Equities research analysts expect Spero Therapeutics, Inc. (NASDAQ:SPRO) to report $3.25 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Spero Therapeutics’ earnings. The highest sales estimate is $4.25 million and the lowest is $2.70 million. Spero Therapeutics posted sales of $3.63 million in the same quarter last year, which suggests a negative year-over-year growth rate of 10.5%. The company is expected to report its next quarterly earnings results on Monday, March 15th.
On average, analysts expect that Spero Therapeutics will report full-year sales of $10.66 million for the current year, with estimates ranging from $10.10 million to $11.67 million. For the next financial year, analysts anticipate that the company will post sales of $13.25 million, with estimates ranging from $9.00 million to $18.75 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Spero Therapeutics.
A number of research analysts have issued reports on SPRO shares. Zacks Investment Research upgraded Spero Therapeutics from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a research note on Wednesday, January 20th. HC Wainwright lifted their target price on Spero Therapeutics from $33.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, January 22nd. Finally, Berenberg Bank began coverage on shares of Spero Therapeutics in a research report on Wednesday, December 16th. They issued a “buy” rating and a $47.00 price objective on the stock. Seven investment analysts have rated the stock with a buy rating, Spero Therapeutics presently has a consensus rating of “Buy” and an average price target of $30.00.
Spero Therapeutics stock traded down $0.99 during trading on Tuesday, hitting $18.73. 284,294 shares of the company were exchanged, compared to its average volume of 332,623. The company has a market capitalization of $509.21 million, a P/E ratio of -4.64 and a beta of 1.67. The business’s 50 day moving average is $18.57 and its 200 day moving average is $15.13. Spero Therapeutics has a 52 week low of $5.25 and a 52 week high of $23.64.
In related news, major shareholder Aquilo Capital Management, Llc sold 14,933 shares of the stock in a transaction on Wednesday, December 16th. The stock was sold at an average price of $18.62, for a total value of $278,052.46. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Cristina Larkin sold 12,000 shares of the stock in a transaction dated Wednesday, December 16th. The shares were sold at an average price of $19.00, for a total value of $228,000.00. Following the transaction, the chief operating officer now owns 13,500 shares in the company, valued at $256,500. The disclosure for this sale can be found here. Insiders have sold a total of 72,948 shares of company stock worth $1,391,249 in the last three months. Insiders own 17.43% of the company’s stock.
A number of hedge funds have recently made changes to their positions in SPRO. BlackRock Inc. grew its stake in Spero Therapeutics by 60.8% in the fourth quarter. BlackRock Inc. now owns 1,731,600 shares of the company’s stock worth $33,576,000 after purchasing an additional 654,438 shares during the period. AWM Investment Company Inc. boosted its position in shares of Spero Therapeutics by 104.6% in the third quarter. AWM Investment Company Inc. now owns 498,755 shares of the company’s stock worth $5,566,000 after purchasing an additional 255,000 shares during the period. Morgan Stanley boosted its position in shares of Spero Therapeutics by 1,082.9% during the fourth quarter. Morgan Stanley now owns 271,258 shares of the company’s stock worth $5,259,000 after acquiring an additional 248,326 shares during the last quarter. Samsara BioCapital LLC bought a new position in shares of Spero Therapeutics during the third quarter worth $1,786,000. Finally, Assenagon Asset Management S.A. purchased a new stake in Spero Therapeutics during the fourth quarter valued at $2,400,000. Hedge funds and other institutional investors own 57.61% 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. Its product candidates include tebipenem pivoxil hydrobromide (HBr), an oral carbapenem-class antibiotic to treat MDR gram-negative infections for adults; SPR206, a direct acting IV-administered agent to treat MDR Gram-negative infections in the hospital; and SPR720, an oral antibiotic for the treatment of pulmonary non-tuberculous mycobacterial disease.
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