Brokerages Set Spruce Biosciences, Inc. (NASDAQ:SPRB) PT at $5.00

by · The Markets Daily

Shares of Spruce Biosciences, Inc. (NASDAQ:SPRB – Get Free Report) have been given a consensus rating of “Hold” by the eight brokerages that are currently covering the company, MarketBeat Ratings reports. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $5.00.

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

Get Our Latest Stock Analysis on SPRB

Institutional Investors Weigh In On Spruce Biosciences

Several institutional investors have recently bought and sold shares of the company. AWM Investment Company Inc. acquired a new position in shares of Spruce Biosciences during the first quarter valued at approximately $157,000. Renaissance Technologies LLC raised its stake in Spruce Biosciences by 35.1% in 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 acquired a new position in Spruce Biosciences in the 2nd quarter valued at $205,000. Finally, Acadian Asset Management LLC purchased a new position in Spruce Biosciences in the 1st quarter valued at $289,000. 91.71% of the stock is currently owned by institutional investors and hedge funds.

Spruce Biosciences Stock Up 11.1 %

Shares of SPRB stock opened at $0.52 on Friday. Spruce Biosciences has a twelve month low of $0.41 and a twelve month high of $5.95. The stock has a market cap of $21.36 million, a P/E ratio of -0.46 and a beta of 2.40. The stock has a 50 day moving average of $0.45 and a 200 day moving average of $0.59. The company has a current ratio of 5.17, a quick ratio of 5.17 and a debt-to-equity ratio of 0.02.

Spruce Biosciences (NASDAQ:SPRB – Get Free Report) last posted its earnings results on Monday, August 12th. The company reported ($0.22) earnings per share for the quarter, beating the consensus estimate of ($0.32) by $0.10. Spruce Biosciences had a negative net margin of 450.38% and a negative return on equity of 59.94%. The firm had revenue of $1.61 million during the quarter, compared to analyst estimates of $1.55 million. As a group, sell-side analysts expect that Spruce Biosciences will post -1.12 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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