Spruce Biosciences, Inc. (NASDAQ:SPRB) Receives $3.90 Consensus PT from Analysts

Shares of Spruce Biosciences, Inc. (NASDAQ:SPRB) have been assigned a consensus rating of “Hold” from the nine ratings firms that are covering the firm, MarketBeat reports. Nine analysts have rated the stock with a hold recommendation. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $3.90.

Several equities research analysts have issued reports on the stock. Oppenheimer restated a “market perform” rating on shares of Spruce Biosciences in a research report on Wednesday, December 11th. Guggenheim reissued a “neutral” rating on shares of Spruce Biosciences in a research report on Thursday, December 12th. HC Wainwright reaffirmed a “neutral” rating on shares of Spruce Biosciences in a research report on Monday, December 16th. Royal Bank of Canada reissued a “sector perform” rating and issued a $1.50 price objective (down previously from $2.00) on shares of Spruce Biosciences in a report on Wednesday, December 11th. Finally, JMP Securities reaffirmed a “market perform” rating and set a $3.00 target price on shares of Spruce Biosciences in a report on Wednesday, December 11th.

Hedge Funds Weigh In On Spruce Biosciences

Several institutional investors have recently modified their holdings of SPRB. Acadian Asset Management LLC raised its position in Spruce Biosciences by 270.9% in the second quarter. Acadian Asset Management LLC now owns 1,367,997 shares of the company’s stock worth $707,000 after acquiring an additional 999,166 shares during the period. Renaissance Technologies LLC increased its stake in shares of Spruce Biosciences by 35.1% during the 2nd quarter. Renaissance Technologies LLC now owns 366,100 shares of the company’s stock worth $190,000 after purchasing an additional 95,100 shares during the last quarter. Finally, Almitas Capital LLC bought a new stake in shares of Spruce Biosciences in the 2nd quarter worth approximately $205,000. 91.71% of the stock is owned by institutional investors.

Spruce Biosciences Stock Performance

SPRB stock opened at $0.44 on Thursday. Spruce Biosciences has a twelve month low of $0.37 and a twelve month high of $5.95. The company has a quick ratio of 5.36, a current ratio of 5.36 and a debt-to-equity ratio of 0.01. The company has a market cap of $18.07 million, a P/E ratio of -0.47 and a beta of 2.34. The business’s fifty day moving average is $0.50 and its 200-day moving average is $0.50.

Spruce Biosciences (NASDAQ:SPRB) last released its quarterly earnings results on Monday, November 11th. The company reported ($0.21) EPS for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.06. The company had revenue of $0.60 million for the quarter, compared to analyst estimates of $1.80 million. Spruce Biosciences had a negative return on equity of 62.10% and a negative net margin of 555.23%. Equities research analysts forecast that Spruce Biosciences will post -1.03 EPS for the current year.

Spruce Biosciences Company Profile

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.