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

Spruce Biosciences, Inc. (NASDAQ:SPRBGet Free Report) has received an average rating of “Hold” from the eight ratings firms that are currently covering the stock, Marketbeat reports. Six investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $5.00.

A number of brokerages have recently weighed in on SPRB. Guggenheim cut Spruce Biosciences from a “buy” rating to a “neutral” rating in a research report on Thursday, March 14th. HC Wainwright reiterated a “neutral” rating on shares of Spruce Biosciences in a research note on Wednesday, June 5th. SVB Leerink downgraded shares of Spruce Biosciences from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $9.00 to $2.00 in a report on Thursday, March 14th. Oppenheimer dropped their price objective on shares of Spruce Biosciences from $4.00 to $3.00 and set an “outperform” rating on the stock in a report on Thursday, June 13th. Finally, LADENBURG THALM/SH SH lowered shares of Spruce Biosciences from a “buy” rating to a “neutral” rating in a research note on Thursday, March 14th.

View Our Latest Research Report on SPRB

Institutional Investors Weigh In On Spruce Biosciences

Several institutional investors have recently bought and sold shares of SPRB. AWM Investment Company Inc. acquired a new position in Spruce Biosciences during the 1st quarter valued at about $157,000. Acadian Asset Management LLC acquired a new position in shares of Spruce Biosciences during the first quarter valued at approximately $289,000. Superstring Capital Management LP bought a new stake in Spruce Biosciences during the fourth quarter worth approximately $348,000. Worth Venture Partners LLC lifted its position in Spruce Biosciences by 8.8% in the third quarter. Worth Venture Partners LLC now owns 302,074 shares of the company’s stock worth $683,000 after purchasing an additional 24,450 shares during the period. Finally, AIGH Capital Management LLC boosted its stake in Spruce Biosciences by 75.4% during the 4th quarter. AIGH Capital Management LLC now owns 2,123,863 shares of the company’s stock valued at $6,223,000 after purchasing an additional 912,863 shares in the last quarter. Institutional investors and hedge funds own 91.71% of the company’s stock.

Spruce Biosciences Stock Down 2.9 %

SPRB stock opened at $0.55 on Thursday. The firm has a market cap of $22.53 million, a price-to-earnings ratio of -0.48 and a beta of 2.41. Spruce Biosciences has a 1-year low of $0.50 and a 1-year high of $5.95. The firm has a fifty day moving average price of $0.67 and a two-hundred day moving average price of $1.97. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.67 and a quick ratio of 4.67.

Spruce Biosciences (NASDAQ:SPRBGet Free Report) last announced its quarterly earnings data on Monday, May 13th. The company reported ($0.28) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.04. Spruce Biosciences had a negative net margin of 461.67% and a negative return on equity of 57.53%. The business had revenue of $2.00 million during the quarter, compared to the consensus estimate of $1.12 million. Research analysts predict that Spruce Biosciences will post -1.24 EPS for the current year.

About Spruce Biosciences

(Get Free Report

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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Analyst Recommendations for Spruce Biosciences (NASDAQ:SPRB)

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