Spero Therapeutics Inc (SPRO) Received its Third Buy in a Row

After Cantor Fitzgerald and Cowen & Co. gave Spero Therapeutics Inc (NASDAQ: SPRO) a Buy rating last month, the company received another Buy, this time from H.C. Wainwright. Analyst Ed Arce maintained a Buy rating on Spero Therapeutics Inc today and set a price target of $27. The company’s shares opened today at $12.52.

Arce observed:

“916-3963, POS Risk-adj value Full value SPR994 (oral carbapenem) – cUTI 62% $22.43 $36.47 Shares outstanding 17,524 S/O as of SPR741 (IV potentiator) – MDR Gram (-) $3.42 $3.42 Current share price $12.69 Discount rate 14.5% SPR720 (oral treatment) – NTM $1.43 $1.43.”

According to TipRanks.com, Arce is a 4-star analyst with an average return of 10.5% and a 39.2% success rate. Arce covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals Inc, Arcturus Therapeutics Ltd, and Melinta Therapeutics Inc.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Spero Therapeutics Inc with a $27 average price target, which is an 115.7% upside from current levels. In a report issued on May 9, Cantor Fitzgerald also maintained a Buy rating on the stock with a $27 price target.

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Based on Spero Therapeutics Inc’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $10.6 million. In comparison, last year the company had a GAAP net loss of $10.64 million.

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Spero Therapeutics, Inc. is a clinical-stage biopharmaceutical company which focuses on identifying, developing, and commercializing novel treatments for multi-drug resistant, or MDR, bacterial infections. Its pipeline product candidates include SPR994, SPR741, and SPR206.