Spruce Biosciences (SPRB) – Analysts’ Recent Ratings Changes

A number of research firms have changed their ratings and price targets for Spruce Biosciences (NASDAQ: SPRB):

• 12/16/2024 – Spruce Biosciences had its “neutral” rating reaffirmed by analysts at HC Wainwright.
• 12/12/2024 – Spruce Biosciences had its “neutral” rating reaffirmed by analysts at Guggenheim.
• 12/11/2024 – Spruce Biosciences had its “sector perform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $1.50 price target on the stock, down previously from $2.00.
• 12/11/2024 – Spruce Biosciences had its “market perform” rating reaffirmed by analysts at JMP Securities. They now have a $3.00 price target on the stock.
• 12/11/2024 – Spruce Biosciences had its “market perform” rating reaffirmed by analysts at Oppenheimer Holdings Inc..
• 12/11/2024 – Spruce Biosciences was downgraded by analysts at Citizens Jmp from a “strong-buy” rating to a “hold” rating.
• 11/12/2024 – Spruce Biosciences had its “sector perform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $2.00 price target on the stock.

Spruce Biosciences Stock Performance

Shares of SPRB stock opened at $0.44 on Monday. The company has a current ratio of 5.36, a quick ratio of 5.36 and a debt-to-equity ratio of 0.01. Spruce Biosciences, Inc. has a 12-month low of $0.37 and a 12-month high of $5.95. The business’s 50 day moving average is $0.50 and its two-hundred day moving average is $0.50. The company has a market capitalization of $18.07 million, a P/E ratio of -0.47 and a beta of 2.34.

Spruce Biosciences (NASDAQ:SPRB) last announced its earnings results on Monday, November 11th. The company reported ($0.21) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.06. The firm 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%. Analysts expect that Spruce Biosciences, Inc. will post -1.03 EPS for the current fiscal year.

Institutional Trading of Spruce Biosciences

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC boosted its holdings in 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. Almitas Capital LLC purchased a new position in shares of Spruce Biosciences in the second quarter valued at approximately $205,000. Finally, Acadian Asset Management LLC increased its position in shares of Spruce Biosciences by 270.9% during the second quarter. Acadian Asset Management LLC now owns 1,367,997 shares of the company’s stock worth $707,000 after purchasing an additional 999,166 shares in the last quarter. Hedge funds and other institutional investors own 91.71% of the company’s stock.

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.