Brokerages Set Spruce Biosciences, Inc. (NASDAQ:SPRB) Target Price at $5.00

Shares of Spruce Biosciences, Inc. (NASDAQ:SPRB) have been given an average recommendation of “Hold” by the eight research firms that are covering the stock, Marketbeat reports. Six equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $5.00.

SPRB has been the topic of a number of recent research reports. Royal Bank of Canada restated a “sector perform” rating and issued a $2.00 target price on shares of Spruce Biosciences in a report on Tuesday. HC Wainwright restated a “neutral” rating on shares of Spruce Biosciences in a research report on Monday, August 19th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SPRB. AWM Investment Company Inc. purchased a new stake in shares of Spruce Biosciences during the 1st quarter valued at about $157,000. Renaissance Technologies LLC boosted its stake in Spruce Biosciences by 35.1% during 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 during the last quarter. Almitas Capital LLC acquired a new position in Spruce Biosciences in the second quarter worth about $205,000. Finally, Acadian Asset Management LLC acquired a new stake in Spruce Biosciences during the first quarter valued at approximately $289,000. 91.71% of the stock is owned by institutional investors and hedge funds.

Spruce Biosciences Trading Down 1.3 %

Shares of Spruce Biosciences stock opened at $0.53 on Wednesday. Spruce Biosciences has a 1 year low of $0.41 and a 1 year high of $5.95. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.17 and a quick ratio of 5.17. The business has a 50 day moving average price of $0.49 and a 200 day moving average price of $0.56. The company has a market capitalization of $21.72 million, a P/E ratio of -0.51 and a beta of 2.36.

Spruce Biosciences (NASDAQ:SPRB) last released its quarterly earnings results on Monday, November 11th. The company reported ($0.21) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.06. Spruce Biosciences had a negative return on equity of 59.94% and a negative net margin of 450.38%. The company had revenue of $0.60 million during the quarter, compared to analysts’ expectations of $1.80 million. Sell-side analysts anticipate that Spruce Biosciences will post -1.12 EPS 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.