BofA/Merrill Lynch Downgrades Spero Therapeutics (SPRO) to Underperform

BofA/Merrill Lynch analyst Jason Gerberry downgraded Spero Therapeutics (NASDAQ: SPRO) from Neutral to Underperform with a price target of $9.00 (from $19.00).

The analyst list three reasons for the downgrade:

1. SPR994 for the treatment of complicated urinary tract infections as more nich drug than prior analyst team,
2. 55% probability-of-success reflecting the fact prior Phase 2 has limited read-through to '994's registration study due to protocol difference,
3. early-stage antibiotic potentiator program is intriguing but unlikely to unlock meaningful value until program is validated in larger studies.

For an analyst ratings summary and ratings history on Spero Therapeutics click here. For more ratings news on Spero Therapeutics click here.

Shares of Spero Therapeutics closed at $9.76 yesterday.

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