Spruce Biosciences (NASDAQ:SPRB) Given “Neutral” Rating at HC Wainwright

HC Wainwright restated their neutral rating on shares of Spruce Biosciences (NASDAQ:SPRB) in a research report report published on Monday morning,Benzinga reports.

Other equities analysts have also recently issued research reports about the stock. Royal Bank of Canada reiterated a “sector perform” rating and issued a $1.50 target price (down previously from $2.00) on shares of Spruce Biosciences in a research report on Wednesday, December 11th. Citizens Jmp downgraded Spruce Biosciences from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 11th. Oppenheimer reiterated a “market perform” rating on shares of Spruce Biosciences in a report on Wednesday, December 11th. Guggenheim reiterated a “neutral” rating on shares of Spruce Biosciences in a report on Thursday, December 12th. Finally, JMP Securities reiterated a “market perform” rating and issued a $3.00 price target on shares of Spruce Biosciences in a research note on Wednesday, December 11th. Nine equities research analysts have rated the stock with a hold rating, According to MarketBeat, Spruce Biosciences presently has an average rating of “Hold” and an average target price of $3.90.

Spruce Biosciences Stock Up 1.4 %

SPRB opened at $0.39 on Monday. The business’s fifty day simple moving average is $0.51 and its 200 day simple moving average is $0.52. Spruce Biosciences has a 52 week low of $0.37 and a 52 week 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 stock has a market cap of $16.05 million, a PE ratio of -0.41 and a beta of 2.34.

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

Hedge Funds Weigh In On Spruce Biosciences

Several institutional investors have recently bought and sold shares of the stock. Acadian Asset Management LLC raised its stake in Spruce Biosciences by 270.9% during the second quarter. Acadian Asset Management LLC now owns 1,367,997 shares of the company’s stock valued at $707,000 after purchasing an additional 999,166 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of Spruce Biosciences by 35.1% in the 2nd quarter. Renaissance Technologies LLC now owns 366,100 shares of the company’s stock worth $190,000 after buying 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 about $205,000. 91.71% of the stock is owned by hedge funds and other institutional investors.

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.