Spruce Biosciences (NASDAQ:SPRB – Get Free Report)‘s stock had its “neutral” rating reiterated by research analysts at HC Wainwright in a report released on Monday, Benzinga reports.
SPRB has been the topic of several other reports. Oppenheimer cut their target price on shares of Spruce Biosciences from $4.00 to $3.00 and set an “outperform” rating on the stock in a research note on Thursday, June 13th. Royal Bank of Canada reissued a “sector perform” rating and set a $2.00 price objective on shares of Spruce Biosciences in a research report on Tuesday, August 13th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $5.00.
Get Our Latest Stock Analysis on SPRB
Spruce Biosciences Stock Performance
Spruce Biosciences (NASDAQ:SPRB – Get Free Report) last issued its earnings results on Monday, August 12th. The company reported ($0.22) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.10. Spruce Biosciences had a negative return on equity of 59.94% and a negative net margin of 450.38%. The business had revenue of $1.61 million during the quarter, compared to the consensus estimate of $1.55 million. As a group, analysts anticipate that Spruce Biosciences will post -1.24 EPS for the current year.
Institutional Investors Weigh In On Spruce Biosciences
A number of institutional investors and hedge funds have recently made changes to their positions in the business. AWM Investment Company Inc. bought a new stake in Spruce Biosciences during the 1st quarter worth approximately $157,000. Renaissance Technologies LLC boosted its position in shares of Spruce Biosciences by 35.1% during the second quarter. Renaissance Technologies LLC now owns 366,100 shares of the company’s stock valued at $190,000 after buying an additional 95,100 shares during the last quarter. Almitas Capital LLC bought a new stake in Spruce Biosciences during the second quarter worth $205,000. Acadian Asset Management LLC purchased a new stake in Spruce Biosciences in the 1st quarter valued at $289,000. Finally, Superstring Capital Management LP bought a new position in Spruce Biosciences during the 4th quarter valued at $348,000. Institutional investors and hedge funds own 91.71% of the company’s stock.
About Spruce Biosciences
Spruce Biosciences, Inc, a biopharmaceutical company, focuses on developing and commercializing novel therapies for rare endocrine disorders. The company engages in developing tildacerfont, a non-steroidal therapy to enhance disease control and reduce steroid burden for patients suffering from congenital adrenal hyperplasia (CAH), which is in Phase 2b clinical trial; and to evaluate glucocorticoid reduction in adult patients with classic CAH that is Phase 2b clinical trial.
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