Spruce Biosciences, Inc. (NASDAQ:SPRB) Given Average Recommendation of “Hold” by Analysts

Spruce Biosciences, Inc. (NASDAQ:SPRB) has earned an average rating of “Hold” from the eight research firms that are presently covering the firm, Marketbeat reports. Six research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $5.00.

SPRB has been the topic of several recent research reports. HC Wainwright restated a “neutral” rating on shares of Spruce Biosciences in a research note on Monday, August 19th. Royal Bank of Canada restated a “sector perform” rating and issued a $2.00 price target on shares of Spruce Biosciences in a research note on Tuesday, August 13th.

Institutional Trading of Spruce Biosciences

Institutional investors have recently added to or reduced their stakes in the business. AWM Investment Company Inc. purchased a new stake in Spruce Biosciences during the 1st quarter valued at $157,000. Renaissance Technologies LLC boosted its stake in Spruce Biosciences by 35.1% during the 2nd quarter. Renaissance Technologies LLC now owns 366,100 shares of the company’s stock valued at $190,000 after purchasing an additional 95,100 shares during the last quarter. Almitas Capital LLC purchased a new stake in Spruce Biosciences during the 2nd quarter valued at $205,000. Finally, Acadian Asset Management LLC purchased a new stake in Spruce Biosciences during the 1st quarter valued at $289,000. 91.71% of the stock is currently owned by hedge funds and other institutional investors.

Spruce Biosciences Stock Up 1.0 %

Shares of NASDAQ:SPRB opened at $0.54 on Wednesday. Spruce Biosciences has a 52-week low of $0.41 and a 52-week high of $5.95. The firm has a market capitalization of $22.31 million, a P/E ratio of -0.52 and a beta of 2.36. The stock has a 50 day moving average price of $0.48 and a 200-day moving average price of $0.57. The company has a debt-to-equity ratio of 0.02, a quick ratio of 5.17 and a current ratio of 5.17.

Spruce Biosciences (NASDAQ:SPRB) last posted its quarterly earnings results on Monday, August 12th. The company reported ($0.22) earnings per share for the quarter, topping the consensus estimate of ($0.32) by $0.10. The company had revenue of $1.61 million for the quarter, compared to the consensus estimate of $1.55 million. Spruce Biosciences had a negative return on equity of 59.94% and a negative net margin of 450.38%. As a group, equities research analysts anticipate that Spruce Biosciences will post -1.12 EPS for the current fiscal year.

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.