Spruce Biosciences, Inc. (NASDAQ:SPRB) Receives $3.90 Consensus Target Price from Brokerages

Spruce Biosciences, Inc. (NASDAQ:SPRB) has earned a consensus rating of “Hold” from the nine analysts that are presently covering the company, MarketBeat Ratings reports. Nine research analysts have rated the stock with a hold rating. The average 12-month target price among brokerages that have covered the stock in the last year is $3.90.

SPRB has been the topic of several recent analyst reports. JMP Securities restated a “market perform” rating and set a $3.00 price objective on shares of Spruce Biosciences in a research note on Wednesday, December 11th. Citizens Jmp lowered shares of Spruce Biosciences from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $1.50 price objective (down from $2.00) on shares of Spruce Biosciences in a research report on Wednesday, December 11th. HC Wainwright reiterated a “neutral” rating on shares of Spruce Biosciences in a research note on Monday, December 16th. Finally, Guggenheim restated a “neutral” rating on shares of Spruce Biosciences in a research note on Thursday, December 12th.

Institutional Investors Weigh In On Spruce Biosciences

A hedge fund recently raised its stake in Spruce Biosciences stock. Renaissance Technologies LLC increased its stake in Spruce Biosciences, Inc. (NASDAQ:SPRB) by 35.1% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 366,100 shares of the company’s stock after purchasing an additional 95,100 shares during the quarter. Renaissance Technologies LLC owned about 0.89% of Spruce Biosciences worth $190,000 at the end of the most recent quarter. Institutional investors own 91.71% of the company’s stock.

Spruce Biosciences Trading Up 1.0 %

SPRB opened at $0.38 on Monday. The firm has a market capitalization of $15.59 million, a PE ratio of -0.40 and a beta of 2.38. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.36 and a quick ratio of 5.36. Spruce Biosciences has a fifty-two week low of $0.34 and a fifty-two week high of $5.95. The company’s 50-day moving average is $0.44 and its 200 day moving average is $0.48.

Spruce Biosciences (NASDAQ:SPRB) last issued its quarterly earnings data on Monday, November 11th. The company reported ($0.21) EPS for the quarter, topping the consensus estimate of ($0.27) by $0.06. The firm had revenue of $0.60 million during the quarter, compared to the consensus estimate of $1.80 million. Spruce Biosciences had a negative return on equity of 62.10% and a negative net margin of 555.23%. As a group, research analysts predict that Spruce Biosciences will post -1 earnings per share for the current fiscal 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.