Spero Therapeutics (SPRO – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Ram Selvaraju from H.C. Wainwright remains neutral on the stock and has a $7.00 price target.
Ram Selvaraju’s Buy rating for Spero Therapeutics is based on a couple of key factors. The recent appointment of a highly experienced individual, Esther Rajavelu, as the new Chief Financial Officer and Chief Business Officer is a significant factor. With over two decades of experience in the life sciences sector, Rajavelu brings in-depth knowledge in strategy, investor relations, financing, and mergers and acquisitions in the pharmaceutical and biotech sectors. She has previously demonstrated her skills as a CFO in a similar biopharmaceutical company, where she successfully executed multiple equity financing transactions and a strategic plan to optimize internal investments.
In addition, the imminent initiation of their pivotal Phase 3 trial program for tebipenem HBr, a medication for complicated urinary tract infections, is another crucial component. The FDA has indicated that positive results from this trial, along with previously completed studies, could be sufficient for the approval of tebipenem HBr for a limited use indication. The financial backing from GlaxoSmithKline, including potential milestone and royalty payments, further increases the value proposition. These factors, in combination, make Spero Therapeutics an attractive investment according to Selvaraju.
According to TipRanks, Selvaraju is an analyst with an average return of -11.8% and a 24.15% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Bioxcel Therapeutics, Genmab, and MoonLake Immunotherapeutics.
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Spero Therapeutics (SPRO) Company Description:
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. The company was founded by Ankit A. Mahadevia and Laurence Rahme in April 2013 and is headquartered in Cambridge, MA.
Read More on SPRO:
- Spero Therapeutics appoints Rajavelu as CFO, CBO
- Spero Therapeutics Appoints Esther Rajavelu as Chief Financial Officer and Chief Business Officer
- Spero Therapeutics Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
- Spero Therapeutics management to meet with Truist
- Spero Therapeutics to Present at Cantor’s Global Healthcare 2023 Investor Conference
