Evercore ISI Downgrades Spero Therapeutics (NASDAQ:SPRO) to In-Line

Spero Therapeutics (NASDAQ:SPRO) was downgraded by stock analysts at Evercore ISI from an “outperform” rating to an “in-line” rating in a report issued on Friday, Marketbeat.com reports. They currently have a $5.00 price target on the stock. Evercore ISI’s target price would suggest a potential upside of 423.51% from the stock’s previous close.

A number of other equities research analysts have also issued reports on SPRO. HC Wainwright reaffirmed a “buy” rating and issued a $5.00 price target on shares of Spero Therapeutics in a research report on Monday, December 2nd. Cantor Fitzgerald restated an “overweight” rating on shares of Spero Therapeutics in a research note on Friday, November 15th. Finally, TD Cowen restated a “hold” rating on shares of Spero Therapeutics in a research report on Monday, November 18th.

Spero Therapeutics Price Performance

Shares of Spero Therapeutics stock opened at $0.96 on Friday. Spero Therapeutics has a 12 month low of $0.95 and a 12 month high of $1.89. The business has a 50-day moving average of $1.20 and a 200 day moving average of $1.29. The stock has a market capitalization of $52.07 million, a price-to-earnings ratio of 13.65 and a beta of 0.59.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Spero Therapeutics stock. Acadian Asset Management LLC increased its stake in shares of Spero Therapeutics, Inc. (NASDAQ:SPRO) by 40.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,071,860 shares of the company’s stock after buying an additional 309,262 shares during the period. Acadian Asset Management LLC owned about 1.99% of Spero Therapeutics worth $1,392,000 as of its most recent filing with the Securities and Exchange Commission. 25.60% of the stock is currently owned by institutional investors.

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.