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

Spruce Biosciences, Inc. (NASDAQ:SPRB) has been assigned a consensus rating of “Hold” from the nine research firms that are currently covering the stock, MarketBeat reports. Nine equities research analysts have rated the stock with a hold recommendation. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $3.90.

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

Institutional Trading of Spruce Biosciences

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Almitas Capital LLC bought a new position in Spruce Biosciences in the second quarter valued at $205,000. Renaissance Technologies LLC grew 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 valued at $190,000 after acquiring an additional 95,100 shares in the last quarter. Finally, Acadian Asset Management LLC increased its position in shares of Spruce Biosciences by 270.9% in the second quarter. Acadian Asset Management LLC now owns 1,367,997 shares of the company’s stock valued at $707,000 after acquiring an additional 999,166 shares during the last quarter. 91.71% of the stock is currently owned by institutional investors and hedge funds.

Spruce Biosciences Stock Performance

Shares of SPRB stock opened at $0.40 on Thursday. The stock has a market cap of $16.34 million, a PE ratio of -0.42 and a beta of 2.34. The stock has a 50-day moving average of $0.50 and a 200-day moving average of $0.50. 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 one year low of $0.37 and a one year high of $5.95.

Spruce Biosciences (NASDAQ:SPRB) last issued its earnings results on Monday, November 11th. The company reported ($0.21) EPS for the quarter, beating 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 net margin of 555.23% and a negative return on equity of 62.10%. As a group, sell-side analysts expect that Spruce Biosciences will post -1.03 earnings per share 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.