FY2024 Earnings Forecast for Spero Therapeutics, Inc. Issued By Cantor Fitzgerald (NASDAQ:SPRO)

Spero Therapeutics, Inc. (NASDAQ:SPRO) – Equities researchers at Cantor Fitzgerald lowered their FY2024 earnings per share estimates for Spero Therapeutics in a research report issued on Tuesday, August 6th. Cantor Fitzgerald analyst L. Chen now anticipates that the company will post earnings of ($1.69) per share for the year, down from their prior estimate of ($1.19). Cantor Fitzgerald has a “Overweight” rating on the stock. The consensus estimate for Spero Therapeutics’ current full-year earnings is ($1.27) per share.

Several other research analysts have also issued reports on the company. TD Cowen upgraded Spero Therapeutics from a “hold” rating to a “buy” rating in a report on Tuesday. HC Wainwright reiterated a “buy” rating and issued a $7.00 target price on shares of Spero Therapeutics in a report on Tuesday.

Spero Therapeutics Price Performance

Shares of SPRO stock traded up $0.02 on Thursday, reaching $1.28. 62,144 shares of the company were exchanged, compared to its average volume of 220,478. The company has a 50-day moving average of $1.37 and a 200-day moving average of $1.51. The company has a market cap of $69.11 million, a price-to-earnings ratio of 2.98 and a beta of 0.63. Spero Therapeutics has a one year low of $0.99 and a one year high of $1.89.

Spero Therapeutics (NASDAQ:SPRO) last released its earnings results on Monday, August 5th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.01. The company had revenue of $10.20 million for the quarter, compared to the consensus estimate of $9.80 million. Spero Therapeutics had a net margin of 14.74% and a return on equity of 25.67%. During the same quarter in the previous year, the company earned ($0.23) EPS.

Institutional Investors Weigh In On Spero Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Renaissance Technologies LLC raised its stake in shares of Spero Therapeutics by 14.2% in the second quarter. Renaissance Technologies LLC now owns 975,952 shares of the company’s stock worth $1,269,000 after purchasing an additional 121,492 shares during the last quarter. Acadian Asset Management LLC lifted its stake in Spero Therapeutics by 40.6% during the 2nd quarter. Acadian Asset Management LLC now owns 1,071,860 shares of the company’s stock valued at $1,392,000 after acquiring an additional 309,262 shares in the last quarter. Virtu Financial LLC purchased a new position in Spero Therapeutics during the 1st quarter worth $31,000. Murchinson Ltd. grew its stake in shares of Spero Therapeutics by 1.3% in the 1st quarter. Murchinson Ltd. now owns 873,910 shares of the company’s stock worth $1,503,000 after acquiring an additional 11,210 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Spero Therapeutics by 0.6% in the first quarter. Vanguard Group Inc. now owns 1,653,432 shares of the company’s stock valued at $2,844,000 after purchasing an additional 9,675 shares during the last quarter. Institutional investors and hedge funds own 25.60% 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. 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.